Short-Term Rental Taxes

Overcome tax complexity to run a profitable short-term rental (STR) operation.

Realize the Full Tax Benefits of Your STR Portfolio

While demand for short-term rentals has never been higher, short-term rental taxes have never been more complicated. If you’ve built a strong portfolio of properties and want to make sure your operation is as profitable as possible, we can help. We offer comprehensive, customized tax planning strategies and prepare property management reports that provide insights into the performance of your properties.

Short-Term Rental Tax Services

STR Income Classification

Classification of short-term rental income as passive or business income determines which deductions you can claim. The correct classification is based on the services provided, length of stays, and other factors. Misclassification can lead to penalties and back taxes owed.

STR Passive Loss Rules

The application of complicated passive loss rules to short-term rentals depends on your rental operation. If you don’t know how passive loss works, you could accrue carryovers without reducing your tax liability. Tax planning is needed to realize the benefits of passive loss.

STR Depreciation

Depreciation reduces your taxable income and overall tax liability. But did you know depreciation applies to more than the physical home? Did you know it can offset passive losses and reduce capital gains taxes if you sell? We’ll explain the rules and limitations of depreciation.

State and Local Laws for STRs

States and even local municipalities continue to introduce new regulations and modify tax structures and rates for short-term rental properties. Some benefit property owners. Others don’t. We’ll notify you of changes and account for them in your tax strategies.

Partner with Us

To be successful with short-term rentals, you need the right properties, but you also need a reliable tax strategy. Let us help you take full advantage of the tax benefits of your short-term rental portfolio.