I'll admit I had to be patient but the CPA I'm working with did end up saving me way more than what I paid and was really fun to work with someone that geeked out over taxes and planning.

@Kim LeduffOn Tuesday May 14th we're hosting a meetup in LA which will feature a guest speaker, CPA Edward Markaryan, who will be going over Tax Strategies for Short Term Rental owners.

@Grace SantosOn Tuesday May 14th we're hosting a meetup in LA which will feature a guest speaker, CPA Edward Markaryan, who will be going over Tax Strategies for Short Term Rental owners.

@J Shoe I will start by saying consult with a personal attorney and CPA (and have them work together.)Typically people buy in an LLC just to keep their name off the record and for asset protection and operation agreements.As a sole investor a lot of people will buy in their personal name so they can more easily obtain quality financing, and then move the asset into the LLC.A lot of people of California use trusts (DSTs) to hold the asset, so they are not contributing to the problem of over taxation in CA, as CA has a franchise filing fee of $800 every year for each LLC.Just some things to think about, but find the professionals that can tailor a system for you personally.Cheers

Evolve has taking over tax reporting and payments as os 11/1/21 and as of today 11/29/21 have not communicated anything about this to me. 

This is typically the excess of deductible expenses over taxable income.Report the NOL on Your Tax Return: On your 2023 tax return, you will need to report the NOL on Schedule 1 (Form 1040), Line 22, "Other income."

So, debating "do I need a CPA" or, in your case, "do I need a Realtor" is kind of pointless.As a person who has spent an expansive number of hours in a law library, pouring over chapter upon chapter of various laws and statutes, as well far more hours than the average bear also pouring over tax codes.... 

You've been forking over taxes based on that, so it seems fair game.

If you're ready fine, but there will be deals next year too if you're too over taxed with commitments.  

Even taking the tax hit doesn't seem too terrible, but we would prefer to roll things over tax free and hopefully keep growing what we're doing.