STR CPA

[Ian39727]

Hi everyone! 

We have a few rental properties in Oregon and want to find a new CPA that has STR experience and is able to provide further tax recommendations. As we live full-time in MI, our local tax professional is not as well versed in the tax loopholes that come with STR's.

Does any host out there currently use a CPA with a STR speciality? 

Thanks! 

[Mike-And-Jane0]

@Ian39727 I wouldn't get involved in tax loopholes. Loopholes have a nasty habit of closing and, as the taxpayer, you would be liable

[Kia272]

@Ian39727 I say this all of the time on this forum: Any qualified and competent CPA is more than able to do taxes for an STR. There is nothing particularly complex or difficult about it. And there are no "loopholes."

Gross profit (minus expenses) = Net rental income on your Schedule E. Depreciation of the property, etc. figures in. CPAs have software that calculates all of this. All you need to do is provide accurate numbers. A standalone property will be slightly different than a home-share property. 

Not rocket science. 

[Rebecca]

Hey there @Ian39727, 

How did you get on? I'm tagging in @Lisa673, @Lisa-M61 and @Miguel1423 who are in MI area who might be able to support you with finding a CPA that specialises in STR's. 

Hope this helps. 

[Ian39727]

Thanks Rebecca! And to help clarify, we are not seeking loopholes in taxes. We are just seeking an experienced tax professional who can help advise and maxime our STR tax benefits. Would love to connect with anyone who may be able to help. 

[Rebecca]

That's okay @Ian39727, did you manage to find an experienced tax pro to help in the end? 

[Ian39727]

Not yet! 

[Jeff2884]

Hey Ian - I partner up with a ton of CPAs around Michigan, I'm sure I can ping a few who have expertise on this if you're still in need. Where abouts in Michigan roughly?

[Ian39727]

Thanks Jeff! I live in Southeast Michigan in utica. Please send any CPA's you recommend! 

[Miguel1423]

Thank you for tagging me, Rebecca.   I am sorry, though.  My rentals are in Mexico, and I don't know anyone familiar with Oregon law.  

I wish I could help.  

[Rebecca]

Oh, I'm so sorry to tag you in @Miguel1423, but thank you for taking the time to reply! 😊