CPA Reference For Cost Seg Study

[Larry Fullard]

Hello! I'm looking for a reference for a competent CPA who is familiar with Cost Seg studys and how they can be implemented to offset business and personal W2 income. Me and my wife have 4 small "STR" Airbnbs and personally make a little over 300k, we've been told its possible to depreciate a significant portion of the value of assets in the first or couple of years. As such this could carry over to our personal income and lessen our tax burden. Is anyone familiar if this is still the case, and if so are there any references for a CPA or firm that can help accomplish this. We are not a big company only a few rentals so a CPA that doesn't mind working with the little guy is preferred.

[Basit Siddiqi]

You should first have a conversation with a CPA to see if the increased depreciation from a cost segregation study will benefit you.
It seems like it will based on what you wrote but its better to have that conversation before you spend money on a study that may not help.

The CPA may also have some recommendations of cost segregation study companies for you to use.

Then once the report is received, you want to make sure that he / she knows how to read the report and apply it to your tax return.