Can I use bonus depreciation on this property to offset my W-2 income taxes?

Book losses through bonus depreciation.4.

My question is if we buy something now and do cost seg and have bonus depreciation.... can we offset  that $100K of capital gains?

It involves using Section 179 or bonus depreciation, and I would not DIY this project, as distinction between repairs and capital improvements is one of the most confusing areas of the tax law.And no, you do not need a cost segregation study to deduct these components of your rehab - if you have itemized invoices and receipts.Myth 8: for a valid 1031 exchange, I must exchange STR for another STRNo, you don't.

Yes, I know bonus depreciation is 60% for 2024.My questions:1) Does this sound valid, or are there many more complicated steps for this to work?

If so, you are in GREAT HANDS, and the amount of free support to setup and self-manage your property is a priceless bonus. 

If I purchase an investment property with an LLC can I still take advantage of the STR bonus depreciation?  

Fortunately they don't have to--for people who purchase the book directly from BP here, they get free bonus content and one component of that is a list of 72 questions to ask a sponsor.Someone will read this and think I'm just trying to sell books--not the case. 

Just a heads-up—bonus depreciation can be claimed up to 60% for 2024, and it will drop down to 40% in 2025, so that’s something to keep in mind as you evaluate your options.I’m not endorsing any particular company, and I don’t receive referral fees for recommending the one I used.

He put it the market and the real estate agent advised him to add a closet to what had actually been a bonus addition to the two bedroom one bath house. 12 years old at the time my father asked me to give it a try.