Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Short-Term & Vacation Rental Discussions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 2 years ago,

User Stats

2
Posts
1
Votes
Nathan Robinson
  • Realtor
  • Houston, TX
1
Votes |
2
Posts

Purchasing Short Term Rental to offset W2 income advice (TX)

Nathan Robinson
  • Realtor
  • Houston, TX
Posted

Hi folks, 

I'm looking for ways to offset the taxes that I will owe on W2 income. I came across the short term rental designation that allows for asset depreciation to offset W2 income. This combined with the 100% bonus depreciation for 2022. I want to reach out to a CPA to see if this is something I could realistically pursue before EOY this year. Anyone here have a CPA in Texas who has helped others work through this? I'm okay with running a STR and the work involved I just don't want to screw up. The questions I have are how much this would reduce my AGI, if this is the right strategy for my situation and if I have enough time to pursue this before the end of the year or not?

Thanks!

Loading replies...