SHORT-TERM RENTAL REAL ESTATE TAX ADVISORY TAMPA
We can help you create a strategy if you're looking to offset high W2 income, RSU income, Business income, etc., with a short-term rental real estate strategy. We can help you explore, plan, strategize, and execute to maintain compliance and limit your tax exposure.
Contact us today to speak with a Tampa Accountant at Taxes Tampa to answer all of your individual and business tax questions via our free tax consultation!
Pricing starts at $750
Step 1 - Explore
Pre-compliance for Short-Term Rental Real Estate Strategizing
We help you look at:
-
Review of current and past tax returns (ideally, we'd like to review 2 years in the past and forecast 1-2 years in the present and future)
-
Estimated ROI of the short-term rental strategy based on earnings history and other factors (i.e. timing of business losses, bonuses, etc.)
-
Feasibility of what meeting the 100 or 500 hours compliance would look like (Examples of what you'd need to do as being a landlord is not for everyone)
-
Education on common tax traps for those claiming the short-term rental status (i.e. IRS: Rental property basics (Publication 527) & IRS: Participation & loss rules (Publication 925)
-
Real-world examples of other clients like yourself, their journey, how they structured their STR, Etc.
The more information you have BEFORE you jump into STR's, the better.
Contact us today for experienced and highly skilled Tampa Accountants who will take a 360-degree look at your entire financial and tax situation, and its details and advise you on the best STR structure for your facts and circumstances. As the top accounting firm in Tampa, we are well-versed in all businesses large and small!
Contact us today to meet with a Tampa Accountant at Taxes Tampa who can answer all of your individual tax questions via a free tax consultation!
Step 2 - Planning / Purchasing the Short-Term Rental
We will walk with you and also help you decide on :
-
Running a Benefit Analysis for the property and choosing a cost segregation partner (ideally, you want a minimum of 2- 3 quotes, as they all vary)
-
We do partner with 2 Cost Segregation firms currently that have assisted dozens of clients : (a) Cost Seg Authority and (b) Engineered Tax Services.
-
Making sure you're with the right lending partner (we have some in Tampa that specialize in STR's, but again you want 2-3 quotes and options on the table)
-
Making sure you're comfortable being the property manager, i.e. getting yourself ready on the right platforms, due diligence on FMV of rental rates, etc.
Contact us today to meet with a Tampa Accountant at Taxes Tampa who can answer all of your individual tax questions via a free tax consultation!
Step 3 - Managing the Short-Term Rental
We can help you create a template to :
-
Create a template to track your material participation hours
-
Create a template to log personal use hours
-
Create a template for property accounting (income/expenses)
-
Walking you through the 101s of expenses/deductions/credits with regard to short-term rentals
-
Answering all questions about compliance/expenses/etc. pre-tax season
-
End of year review call to ensure all tax planning protocols have been implemented
Contact us today to schedule a free tax consultation with a Tampa Tax Accountant at Taxes Tampa to review our tax services and your business tax questions! We are the #1 Accountant dedicated to providing you with the best tax services in Tampa.
Why you should hire a Tampa Accountant for your Short-Term Rental Tax Planning
We specialize in helping short-term rental investors understand which tax opportunities fit their income, property, and goals. From evaluating a purchase to reviewing material participation, depreciation, and cost segregation opportunities, we turn complex rules into clear action steps. You’ll receive proactive guidance on potential deductions, documentation, and planning decisions—so you can move forward with a strategy tailored to you.
We believe that working with a Tampa Tax Expert helps drive better financial outcomes. And when it comes to tax planning and breaks, one mistake can cost you. We have the expertise needed to help you file your returns while minimizing your tax liability through careful planning.
Buying or already operating an STR? Let’s build your tax plan.
Other Resources
Other items to consider as you navigate short-term rentals!
-
Possible trust & estate planning i.e. Should an LLC own the STR? Should a trust own the STR?
-
Worth repeating - you need a third party to do the cost segregation report, as it does get submitted to the IRS via Form 3115. So please take your time picking the right provider.
-
Always, always, always Document. Who, what, when, where, why. Log of business hours/log of personal use hours. Audit-proof yourself early.
-
Avoid DIY'ing. There is a reason we recommend a lender, cost seg professional and possible attorney when navigating all of this. It is not advised or even compliant to have 1 person perform all of these functions. Don't risk losing the validity of your strategy because you don't want to pay the cost of proper compliance. Do it right the first time and you'll avoid a million headaches later down the line.
Still have questions? Visit our FAQ's page to review frequently asked tax questions for individuals and businesses! Our Tampa Tax Accountants can't wait to meet you and learn more about your personal and business goals.
