Getting tax credits for short-term and long-term rentals

[Justin2052]

Cost Segregation is a strategic tax savings tool that allows companies and individuals who have constructed, purchased, expanded, or remodeled real estate to increase their cash flow by accelerating depreciation deductions and deferring their federal and state income taxes.

If you own or lease real estate, Cost Segregation could benefit you.  A study is typically feasible for buildings purchased, constructed or renovated in the past 10 years.  An average Cost Segregation Study offers approximately $150,000 in additional depreciation per $1 million in purchase or construction cost.

However, you would need a specialized CPA to help you with this.