What about a CPA on board who handles the taxes?

Working with a CPA on your tax strategy will definitely help ensure you’re getting the benefits you’re after.Good luck with the closing!

I have a CPA I work with who I’m sure will sort all of it out, just didn’t want to do something if it would cause a huge tax headache later.Do you know if you convert a STR to a LTR after a cost seg, will it cause a large repayment of taxes (I’m doing the cost segs to lower my W2 tax rate).

This post does not create a CPA-Client relationship.

*This post does not create a CPA-client relationship.

And if you're investing in a syndication that typically produces K-1's late in the tax season (such as a GP fund) this can make things very tight and/or cause extra tax bills from having to do estimates extra tax work with your CPA.  

First off, I’d suggest connecting with a CPA who specializes in real estate and understands the specifics of Cleveland and Ohio state taxes.

I know I should consult a CPA or attorney but wanted to get input as some may have been through this.

You might potentially be able to deduct the travel costs from CA to MA/NH/RI once you acquire the property.You may want to work with a CPA who helps working with new investors to have a walk-through of what is deductible.

He provides the CPA with Buildium Balance sheet and Income statement reports and any supplemental information like Hud statements if we have done purchases or sales during the year.