Short-Term Rental Tax Strategy 101 with Gio Bartolotta, CPA

Gio Bartolotta, CPA of GoJo Accountants joins us again to discuss short rentals tax benefits, estate planning for STRs and some other risks to account for before making an STR investment. We cover: 00:08 — About GoJo Accountants 🏢 00:30 — Taxation of Short-Term Rentals 📝 03:05 — STR vs LTR: Economic & Financial Planning 📊 07:58 — Retirement Accounts & Tax Strategy 📈 12:32 — Converting Primary Residence to STR 🏡 14:33 — Another Application of the Augusta Rule 🗓️ 16:33 — Offsetting Active Income with STR Deductions 💰 18:36 — Grouping Short-Term Rentals 🤝 21:01 — Depreciation Across Mixed Portfolios (STR & LTR) 🔄 25:45 — Mitigating STR Business Risks 🛡️ 29:58 — Tax Mitigation Strategies for STRs 💡 31:50 — Contact Information 📞 To learn more about Gio and his accounting firm checkout: https://gojoaccountants.com/   / gojoaccountants   Disclosure: Sterling Adams Wealth Management, LLC is a financial planning firm in Verona, New Jersey specializing in HENRYs (High Earner, Not Rich Yet) with 0-3 rental properties who would like to grow their portfolio. All investment advisory services are conducted under Visconti & Associates IARD# 129478. We are NOT licensed Attorneys or Certified Public Accountants and do not provide legal or tax advice. We encourage you to consult your legal or tax Professionals. Any financial representations used are for informational purposes only. Past investments results are NEVER a guarantee of future returns. Investing has many types of risks associated with it. As fiduciaries, we maintain full compliance with all licensing and regulatory agencies as required. Our compensation is derived from fees and commissions which you directly or indirectly pay. All FEES for which a client will be billed by our firm will be disclosed and in writing at the time of our client-planner engagement. #DontSueMeBro