Accountant that specializes in STR taxes?

[Marc Shin]

Hello. Can anyone recommend a good accountant that specializes in STR tax strategies for W2 earners?

[John Underwood]

They all have software and it just generates a Schedule E.

You could hire someone who specializes in Bonus Depreciation.

[Michael Baum]

We have a good CPA who is a real estate investor. There are a few rules and things that can save STR owners some money on taxes depending on your situation.

I had no idea what they were and he saved us a ton of dough.

He is in WA state and I can ask him if he is taking new clients if you are interested.

[Bill Hampton]

@Marc Shin

You came to the right place. I recommend finding an accountant who specializes in real estate taxation and tax planning.

You may want to consider working with your accountant remotely to expand your options.

I would also recommend looking for a accountant willing to work with you throughout the year. You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.

There are over 20 real estate accountants on this site. Reach out to a few and see who you like.

You can also ask members of your local real estate investors association for real estate accountant recommendations.

Good luck.

[Garrett Brown]

Hey Marc! Welcome to the forums. I found mine through the BiggerPockets CPA finder if you want to check the link or PM me for mine. https://www.biggerpockets.com/business/finder/tax-and-financ...

[Basit Siddiqi]

I guide clients who are looking to treat their STR as active.

Somethings to consider are whether you should get a cost segregation study done, creating a log of your hours and having an understanding of what hours count / don't count.

[Zachary Jensen]

Quote from @Marc Shin:

Hello. Can anyone recommend a good accountant that specializes in STR tax strategies for W2 earners?

 Hello Marc! As real estate-focused accountants we cannot promote our services on BP as it is against forum rules. I would suggest taking a look at folks providing value in the tax forum! 

[James R.]

Quote from @Michael Baum:

We have a good CPA who is a real estate investor. There are a few rules and things that can save STR owners some money on taxes depending on your situation.

I had no idea what they were and he saved us a ton of dough.

He is in WA state and I can ask him if he is taking new clients if you are interested.

Hello Michael.  I would be interested in getting the contact information of your accountant.  

[Malik Javed]

Quote from @Basit Siddiqi:

I guide clients who are looking to treat their STR as active.

Somethings to consider are whether you should get a cost segregation study done, creating a log of your hours and having an understanding of what hours count / don't count.

@Basit Siddiqi - good point about the cost seg. Another thing to note, certain renovation costs can be eligible for Qualified Improvement Property (QIP). QIP has a depreciable life of 15-years and is also bonus eligible.

Definitely consider speaking to a certified cost seg professional. Feel free to message me with any questions.

[Michael Baum]

Quote from @James R.:

Quote from @Michael Baum:

We have a good CPA who is a real estate investor. There are a few rules and things that can save STR owners some money on taxes depending on your situation.

I had no idea what they were and he saved us a ton of dough.

He is in WA state and I can ask him if he is taking new clients if you are interested.

Hello Michael.  I would be interested in getting the contact information of your accountant.  

Please send me a PM.

[Max Emory]

Hey @Marc Shin, I keep an updated list our REI Bookkeeping Firm recommends that I can DM over to you. Let me know if you're still and need and I'll send it over.

[Sarah Kensinger]

Anderson Business Advisors all the way!

[Landon Mizuguchi]

We're using Digb and like them.