TOP Tax & Entity Strategies for Short-Term Rentals | Clint Coons Q&A

Clint Coons Esq. | Real Estate Asset Protection

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In this Livestream, I will discuss the top tax & entity strategies for short-term rentals.
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ABOUT CLINT COONS
Clint Coons, Esq. is one of the founding partners of Anderson Law Group, Clint has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
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Опубликовано:

16 окт 2024

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Комментарии : 27

@ChrisMolenaar 2 года назад

This is nice to know about #realestate!👊🤗

@pharaohblack1784 11 месяцев назад

THIS IS GOLD !!!!!!!!!!!!!!!!!!!!! THANK YOU !!!!!!!!!!!!!!!

@organizer14 Год назад

What if property had fire and insurance pay part of cost, what insurance refuse to pay is the costs deductible?

@xingtongwen8717 3 месяца назад

Hi Clint, thx for the informative session. For high earners in CA, is this implementing STR and convert it into LTR the following year a repeatable strategy on yearly basis? Do you have examples who get audited and IRS consider it as tax shelter? Thx

@ClintCoons 3 месяца назад

I do not have any information on audit rates.

@peterchirico2153 Год назад

Hi Clint I just recently found you guys and noticed this video on STR's. My wife and I owned a Licensed BnB in Hawaii for 5 and 1/2 years and about a year ago moved back to CA. We plan on relocating in one year to FL and would love to start a BnB there. Anyway I'm struggling to understand the concepts here to save money on Taxes. The BnB we had in HI was in the same house that we lived in and we did all of the work ourselves. I am familiar with the mortgage interest deductions that gave us a dollar for dollar right off of our income but what you are talking about here seems totally different. Are the tax savings concepts talked about here in addition to any mortgage interest deductions ?

@ClintCoons Год назад

Yours is a different situation because you live in the property. This only applies to non-owner occupied STRs

@TheRulersBack1 Год назад

Can you use this strategy for owner occupied SFH or multifamily? Or does it have to be an investment property in order to operate it as a STR to qualify for REPS?

@ClintCoons Год назад

It must be an investment property.

@dwbdwb01 6 месяцев назад

What state is best for a C corp? I’m thinking about the compliance with the state regarding the number of directors on record and other issues like least number of stockholders etc thank you

@ClintCoons 6 месяцев назад

If all of your properties are in one state, and you are self managing, then I would set it up in the same state. If your properties are spread amongst several states then possibly WY with foreign registrations if you are self managing.

@entnous53 Год назад

If you have 2 Airbnb properties that took 2 years to remodel, then put them into service in 2023, can you do the cost seg study and bonus depreciation in 2022, or is it only in the year they were put into service?

@ClintCoons Год назад

The year the properties are placed into service.

@donpot6675 2 года назад

Mr. Clint! Are you familiar with equity stripping and recording promisary notes and liens against your assets towards your wyoming LLC for lawsuit protection? And of course being able to remove them at anytime. Rather than setting up an LLC for each property? This structure being under a trust to avoid probate

@ClintCoons 2 года назад

Yes and I have a video on friendly liens that covers this topic. This is just a smoke screen and will not actually protect you in the event of a lawsuit.

@TheThennowforever Год назад

I'm definitely signing up

@organizer14 Год назад

Can the unused losses be carried over? For how many years.

@ClintCoons Год назад

yes - indefinite

@chriss207 2 года назад

Hi Clint Thanks so much for this amazing video!!! Question for you. I sold a property in California this year ,didn't 1031 it unfortunately:( Im looking at a very large Cap gain and depreciation recapture bill over 100k Ive heard of a lazy 1031 strategy can you please explain it .Also if I purchased a STR by year end and used this strategy would it help me Or if if I purchased a-property for LTR could I bonus depreciate it and right off the losses against my cap gains, dep recapture.?Thanks so much

@ClintCoons 2 года назад

Chris if you buy a replacement property and turn it into a STR before the end of the year and put in 100 hours with an average rental period of 7 days or less, you can take advantage of Cost Seg. I would look at this strategy to reduce your tax bill.

@chriss207 2 года назад

@@ClintCoons Hi Clint Thanks for your last response does my time preparing , renovating ,buying furniture go towards my 100 hrs?

@ashrosebud2452 2 года назад

Hi Clint, I acquired a property this year 2022 that is under renovation with an intent to launch as an STR, but due to construction timeline will not go into service until 2023. If I understand correctly, because the acquisition date is 2022 the property should qualify for 100% accelerated depreciation, is that correct?

@ClintCoons 2 года назад

Correct

@ellivalentine2466 2 года назад

WA state here

@sajedamomin7719 2 года назад

Is there any way, we can buy 2 SFH and list both as STR and with that qualify for STR tax loophole by doing 100 hours and more than anyone else?

@ClintCoons 2 года назад

Yes if you meet all of the requirements.

@Anthonydaxis 2 года назад

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