Who do you use for cpa for short term rentals?

[Sapient-Properties0]

In need of a cpa who specializes in str, I am in the kentucky and indiana area currently.

[Bhumika · Accepted solution]

Hi @Sapient-Properties0 ,

Have you managed to get any leads for reliable CPAs who can help you?

I am sharing a link for you to explore Local Host Clubs where you can ask Hosts from your region for some trusted recommendations: https://community.withairbnb.com/t5/Local-Host-Clubs/ct-p/en_clubs. 

Keep us posted if you get any leads!

[Kia272]

@Sapient-Properties0  There are no special skills required by a CPA to do your taxes if you have a STR. Absolutely none. Any qualified CPA will do. It's definitely not rocket science. 

The same formula applies: Income minus expenses equals your net profit or loss. Easy peasy. 

All you have to do is supply the figures. 

[Kelsey302]

There are a lot of tax loop holes related to short term rentals though so having a CPA who specializes in short term rentals is definitely desirable.

[Ian39727]

Hi Kelsey! Do you use a CPA with a STR speciality? We have a few rental properties in Oregon and want to find a new CPA. As we live in MI, our current tax pro is not well versed in the tax loopholes with STR's. Thanks! 

[Stacey508]

@Kelsey302 Yes, there are loopholes...looking for a real estate cpa myself.  

[David12711]

That and you have to gross up the Airbnb host fees.  In other words most airbnb hosts give their revenues net of the airbnb fees. Airbnb gives the figures at the end of the year. 

I recommend Airbnb hosts track their revenues and expenses using QBO ledger which is $10 a month.  For an extra fee you can direct deposit to the cleaners their monies.