All Forum Posts by: Andre M.

I feel reluctant to post on here, but I feel I should as a service to others, especially since some people are rushing to defend her.  

Natalie seems like a nice person.  And she refunded me my money, so there was no fraud or "scam."  But I was initially told my taxes would be filed at the end of April 2022.  Then May. Then July and then August.  Then when I asked for a refund when these deadlines kept getting missed, she "guaranteed" she would be done in time (October 15). Then a few days before the October deadline, I got an email (which apparently many people got) saying she was sorry but would not be done in time.  Again, she gave me a refund. Now Nick Aiola is doing my taxes for 2022.  He seems very professional.

Thanks so much guys. I need to get the LLC only on the policy it seems. I appreciate your help!

Hello!

I have 3 STRs in my personal name and I am switching them to LLCs. I know there is debate on whether or not one should go the LLC route, but I have committed to this and set up LLCs. When getting insurance is it a problem to have your personal name on the policy as "additionally insured"...? Or do I just want the LLC on the policy?

I will likely have to ask a lawyer, but I know I am not the first on here to go through this, so I am looking for what you guys with LLCs have already done!

Thanks!

Not sure why the Smokys folks are acting like I bashed Ryan Bakke. I think he’s great too, so if somehow my post appeared to be about him, then my bad. 

My point is that every real estate cpa is super expensive now. They are a hot commodity and there is a market for that niche, especially with STRs. It’s a major cost that people need to be aware of if they go down this route.

Hey guys

As most of you know by now, there is a STR loophole that lets STR owners get huge tax savings via bonus depreciation.

Keep in mind that most accountants are not familiar with this. The ones who are find themselves in high demand, and they charge based on that demand. It is getting tough to find one who charges less than $2,500 for advice (yearly retainer fee essentially). Then you still have to pay them to file your taxes. 

For example: Ryan Bakke is a pioneer on this and he’s up to charging $5k just to let you in his door on the issue. It’s great for him, and that is the market. Others are similar. I went with someone not quite as expensive.  This is not a criticism of him or mine!  But you will have to budget more than you realize to take advantage of cost segregation studies while utilizing the STT loophole. 

 That does not sound like it deserved a 2.  Pretty bad from you, especially knowing you were screwing them.  

50% low season sounds kind of high

I live in New Orleans. It will be fine come conference time.  Electricity will be back in the entire city in a couple of days. I am also a physician...Covid cases are plummeting. Just like with the first wave of covid, new orleans was hit extremely hard then it died down while it spiked everywhere else.  Same thing is happening now.  If the conference were within the next 2 weeks, I would be mildly concerned...in a month? NOLA will be back to baseline. and that time of year is the best time of year in new orleans.

I think you’re too late on BR and Gatlinburg. Not sure about the others though :)