Episode description
Episode description
Tax Secrets Every STR Investor Must Know in 2024! CPA Anne Gannon shares expert insights on maximizing profits and minimizing taxes for short-term rental investments.
Discover:
- How to evaluate properties for STR potential
- Tax-saving strategies like cost segregation
- The importance of understanding your financials
- Tips for long-term success in real estate investing
Anne Gannon, author of "Real Estate Accelerator," reveals why successful STR investors focus on both short-term gains and long-term appreciation. Learn how to avoid common pitfalls and set realistic expectations in today's market.
Connect with Anne: https://www.thelargogroup.com/
Key takeaways:
- Know your market and rental patterns
- Understand the tax implications of STR investments
- Stay educated and adapt to market changes
- Focus on both immediate returns and long-term growth
Don't miss this valuable advice for both new and experienced real estate investors looking to optimize their STR strategy in 2024 and beyond.
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Remember: "Accounting is the rulebook. We have to understand it if we're going to play the game." - Anne Gannon
#lodgingtaxes #vrbotaxes #whatiscostsegregation #shorttermrentaltax #cpa
CHAPTERS:
00:00 - Intro
00:23 - Real Estate Accelerator Book Overview
02:40 - Successful Short Term Rentals Strategies
06:05 - Evaluating Short Term Rental Properties
08:16 - Tax Benefits of Short Term Rentals
13:35 - Getting Started with Bookkeeping
16:35 - Choosing the Right CPA
18:44 - Bookkeeping for Market Adaptation
22:17 - Common Myths in Real Estate Investing
23:01 - Recommended Book for Investors
23:18 - Time-Saving Tips for Investors
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