Understanding Tax Issues With Short-Term Rental Properties
In his latest piece in Forbes, Dave McGuire discusses how the rapid growth of the short-term rental market is creating an avenue for some investors to generate significant wealth and income. Unfortunately, the tax rules concerning these investments can be extremely complicated.
Dave breaks down some of the tax saving opportunities with income-generating properties and tax issues investors need to know about.
David McGuire is a leading expert on cost segregation, fixed assets and depreciation law and a co-founder of McGuire Sponsel. McGuire continues to grow McGuire Sponsel’s national presence in cost segregation and depreciation.
He is the primary resource for alliance firms in regards to 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 resource.