Please keep me honest. Do I need a specialized RE tax planner? Context: have 2 SFH as LTR and intending to acquire a STR. HHI is ~$285K. Think there’s got to be some benefit in leveraging a solid tax pro to minimize taxes but getting quotes ranging $350-$1000/ session with some packaging year round advise for $5K (which seems excessive but I’m not sure). Wife and I plan to retain our W2’s. Any experienced folks willing to opine? Current CPA is adequate but unsure if we need specialization.

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I may be able to recommend someone to you, but I need to see if he’s currently accepting new clients. What state do you live in? And what state(s) are your properties in?

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Would love info too, in Michigan

One or two consulting sessions could easily set you up for thousands of dollars of savings over the coming years.

I’d do one session specifically on STR tax strategy (and bookkeeping) because there are a lot of specific tax advantages to short term rentals, but you here’s also a lot more effort and documentation that is required. Then a separate session for your long term rentals

chime

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