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Updated over 3 years ago on . Most recent reply

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41
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Ryan Elam
  • Denver, CO
10
Votes |
41
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Looking for CPA - STR Tax Strategy

Ryan Elam
  • Denver, CO
Posted

Hi there, 

I'm a new STR investor and am looking for a CPA who is an STR tax expert.

In particular, I am looking to deduct 20-25% my STR purchase price. 

  • Ryan Elam
  • Most Popular Reply

    User Stats

    525
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    Aaron Zimmerman
    #1 Investor Mindset Contributor
    • Accountant
    • Chicago, IL
    266
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    525
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    Aaron Zimmerman
    #1 Investor Mindset Contributor
    • Accountant
    • Chicago, IL
    Replied

    You would probably need to do a cost segregation and keep track of furniture and fixtures (to furnish the airbnb). Depending on level of income/REP status, you may be able to deduct some, all, or none, of the potentially accelerated depreciation. I'd recommend talking to a few CPAs on here and seeing who you resonate with and determining if it's worth it to do a cost seg. 

    Typically, you can get larger year 1 write offs due to bonus depreciation of the items mentioned above. 

    • Aaron Zimmerman
    business profile image
    Brick House CPAs

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