I'm looking for an experienced and reliable CPA in Jacksonville, Florida who knows real estate investing finance well.

Be sure to use a CPA each year to prepare your taxes for you.

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Not a CPA or accountant, just an uneducated opinion.

Additionally, consider listing on other platforms like Zillow or Facebook Marketplace for more visibility.This post does not create a CPA-Client relationship.

Bookkeeping, CPA, 1099 issuance & follow up.

Smith, CPA

It allows a substantial portion of the asset's cost to be deducted in the first year of service.In 2023, the bonus depreciation rate is 80%.In 2024, it decreases to 60%.In 2025, the rate further reduces to 40%.COST SEGREGATION:Cost segregation involves dividing a property into its individual components for tax purposes.Some parts age faster, like carpets or paint.Your CPA can use this info to more accurately depreciate elements of your property leading to potential tax savings.BASIS:Your basis is the initial price that you paid for your property, including any expenses or improvements.Knowing your basis is crucial for tax purposes, as it's used to evaluate depreciation & determine the capital gains or losses if/when your property sells.LAND VALUE:This is how much your land is worth without any buildings or improvements.Land doesn't get old like buildings, so you can't depreciate it.

(My assumption is it may be tough to prove enough material participation if using someone local to manage.)Two things worth noting:1- I'll be discussing with my CPA in-depth soon, but would like to hear other's experiences on this.2 - The main reasons I'm looking to STR's is the tax benefits (Cost-Seg) & appreciation that comes with buying in these areas opposed to the mid-west where I look for long-term rentals..

My CPA put that as loss in my tax return and carried it over.Next year they sold the property for a gain of 32K.