All Forum Posts by: Chris McCormack

No inheritance tax in CA, you also receive a step up in basis. Debt comes to you tax free

Someone who specializes in real estate, specifically real estate tax planning. Many are working remotely these days.

Happy to talk through any questions.

Happy to talk through any questions. Be sure to log time spent on property as well as all expenses. If you are STR you are in unique position for a tax loophole.

What are your views on the tax code?

Who gets the most advantages on the tax law?

What made you become a tax advisor?

Do you specialize in tax planning?

Tell me about your team of advisors.

Describe your personal business experience

Give me three examples of how to reduce the risk of an IRS audit.

Agree with @Greg M. - any expenses you incur are tax deductible 

@Michael Baum Average stay of 7 days or less is what takes you out of the material participation requirement for REPs and allows you to deduct losses. Does that make sense?

Happy to connect and provide tax insights with local investors

This could open up a tough tax situation. If you're using STR for tax benefits, you gotta stay below the average stay of 7 days. One long stay like this could unfavorably impact your average