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Tax Strategies for STR with Amanda Han and Matt McFarland
Avery hosts real estate tax experts Amanda Han and Matt McFarland, who discuss tax advantages for short-term rental investors, demystifying key deductions and tax-saving strategies.
Avery: Hey guys, welcome back to the show! I’m really excited about today’s episode. We have some of the brightest minds, if not the brightest, in the real estate tax space—Matt McFarland and Amanda Han from Keystone CPAs. How’s it going, y’all?
Amanda: Hello! Good morning, Avery. We’re so excited to be here. I’m super excited, and I hear you’re a huge fan of BiggerPockets, which makes us feel right at home!
Avery: I sure am! I still don’t truly understand a lot of the tax advantages and loopholes when it comes to short-term rentals, which is why I’m really happy to have you both here. There’s a lot of people just like me who want to understand all of this stuff.
Matt: Absolutely! Well, for those who don’t know, my name is Matt, and this is Amanda. We’re with Keystone CPAs. Our firm focuses on helping real estate investors nationwide save taxes using real estate investments. We’re real estate investors ourselves, so we get to see the numbers behind the deals, and it really helps improve our own investing as well.
Avery: That’s fantastic. I’m really excited to demystify some things today and talk about the benefits of real estate investing for short-term rentals. Let’s jump into it! What are the tax benefits of short-term rentals?
Amanda: Well, short-term rentals are really no different than long-term rentals when it comes to deductions. All your real estate expenses—like going to a BiggerPockets conference—are tax-deductible if they help improve your rental property.
Matt: That’s right, Avery! Anything that’s related to improving your rental is tax-deductible. Whether you have a legal entity or just started your first rental, all of those expenses count.
Avery: It sounds like short-term rentals also have higher cash flow compared to long-term rentals. How do we find ways to offset that?
Amanda: You want to capture every tax deduction you can, like meals, travel, auto expenses, and conferences related to your rental.