by Dave McGuireMarch 29, 2022

Depreciation considerations of short-term rental ownership

In his latest piece in Accounting Today, Dave McGuire discusses the recent demand for short-term rentals and how investors are increasingly attracted to these properties to generate passive income. Moving forward, investors and their CPAs need to be aware of the depreciation rules that apply to the short-term rental market.

The good news is depreciation allows many of these investors to realize significant tax savings. Completing cost segregation or other strategies to maximize these deductions can increase these savings even further. However, taxpayers will first need to determine if they will be able to utilize these deductions.

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David McGuire is a leading expert on cost segregation, fixed assets and depreciation law and a co-founder of McGuire Sponsel.

McGuire is an expert on for how tax law affects depreciation. His knowledge in determining asset costs and classifications has held up against IRS scrutiny and has built the firm into a trusted industry partner.