Rental property tax guide [2019 Edition]

by Team Stessa, posted in Guides, Legal & Taxes

The first part of effective tax strategy and planning is understanding that when you file your tax returns each year, you’re simply reporting the results (income, losses, etc.) of your activities from the prior year. Once the year ends, while there are a few things that can be done, most of your results are already set in stone and you will pay tax based on those results.

That means you need to be taking a proactive approach to taxes with a plan to implement strategies and take action throughout the year to deliver the best results come tax filing season.

That’s why Stessa, in partnership with the Real Estate CPA, is excited to announce the Rental Property Tax Guide (2019 edition). This resource was drafted alongside Brandon Hall, CEO of The Real Estate CPA, who works with real estate investors, syndicates, and private equity funds to optimize their tax positions and streamline their accounting and business functions.

This comprehensive 45 page guide is designed to give real estate investors tax strategies they can implement now to take advantage of tax incentives already available. It offers rental owners valuable tips on how to:

  • Maximize deductions
  • Optimize for new tax law
  • Understand and implement best practices

The guide covers important topics like date placed in service, the difference between capital improvements and repairs and maintenance, and how to understand and minimize depreciation recapture. Other topics Stessa and The Real Estate CPA cover in this comprehensive guide include:

  • A more precise and nuanced understanding of your 2018 tax filing
  • The basics of recordkeeping, home offices, HELOC interest, and more
  • Entity basics such as Single and Multi Member LLC’s
  • How to effectively claim travel
  • Cost segregation studies and the 100% bonus depreciation
  • Passive losses and activity limits
  • The Real Estate Professional status
  • The capital gains tax
  • Net Investment Income Tax (NIIT)
  • Mitigating tax upon sale with 1031 exchanges and opportunity funds
  • Key tax issues for short-term rentals
  • Clarification on the new 20% pass-through deduction

And much more! The ultimate Rental Property Tax Guide will give you the background you need to effectively manage your tax strategies throughout the year, and ultimately help you take advantage of incentives you may not have considered.