Kendall is a landlord’s market — single-family rentals in Kendale Lakes and The Hammocks, condos near Dadeland, short-term rentals across South Miami-Dade. We make sure the tax code works as hard as your properties do.
Real estate is the most tax-advantaged asset most Kendall families will ever own, and the most under-planned. Depreciation gets missed or miscalculated, improvements get expensed as repairs (or the reverse), short-term rental income gets reported as a passive rental when it could offset wages, properties sit in the owner’s name with no liability protection, and sales happen without anyone mentioning a 1031 exchange until the closing has passed. We work with Kendall investors from the first rental to the portfolio stage.
Every rental we handle gets a property-level Schedule E (or partnership return), correct depreciation from a defensible basis, proper treatment of repairs versus capital improvements, tracking of suspended passive losses, and the right handling of security deposits, HOA fees, insurance, and the many expenses Kendall landlords forget to deduct. If a prior preparer never set up depreciation correctly, we fix it — often with a Form 3115 that catches up the missed deductions in a single year.
Airbnb and VRBO properties are taxed differently from long-term rentals, and the difference can be enormous. With average stays of seven days or less and material participation, a short-term rental can be treated as non-passive, which means its losses — including cost-segregation depreciation — can offset W-2 and business income. We structure the ownership, document participation, and handle the Florida sales tax and Miami-Dade tourist taxes that short-term rentals owe.
A cost segregation study breaks a building into its components — flooring, cabinetry, electrical, plumbing, land improvements — and reclassifies the ones that qualify from 27.5- or 39-year depreciation to 5-, 7-, or 15-year property. Combined with bonus depreciation, that front-loads a large share of the building’s cost into the first year. For a Kendall investor with a $600,000 rental, a study can mean six figures of first-year deductions. We coordinate the engineering-based study, apply it correctly on the return, and model whether it makes sense for your situation before you pay for it — because it doesn’t always.
Often, yes, for properties purchased for roughly $300,000 or more where the owner has income to offset — especially short-term rentals or investors with real estate professional status. For a long-term rental owned by a W-2 earner with no other passive income, the deductions may be suspended, and we’ll say so before you pay for a study.
Short-term rentals with average stays of seven days or less are not treated as “rental activities” under the passive-loss rules, so if you materially participate, losses can offset wages and business income. They also owe Florida sales tax and Miami-Dade tourist taxes, which long-term rentals do not.
Usually, for liability protection — but it has to be done carefully around your mortgage (due-on-sale clauses), insurance, and Florida documentary stamp tax on the transfer. The tax treatment itself doesn’t change for a single-member LLC. We coordinate with your attorney and lender.
A 1031 has to be set up before closing, so not for that sale — but we can minimize the damage through installment reporting, offsetting losses, and timing other deductions, and plan the next sale properly.
Yes. Missed depreciation can be caught up with a change in accounting method (Form 3115) that deducts all the missed years at once on the current return. It’s one of the most valuable fixes we make for Kendall landlords.
S-Corp, partnership, LLC and C-Corp returns for Kendall businesses — prepared by a CPA, planned before year-end.
Personal returns for Kendall families — rental income, self-employment, foreign accounts, and real planning, not just data entry.
Monthly QuickBooks bookkeeping, clean-up projects, and financial statements for Kendall businesses that want real numbers.
Free 20-minute consultation. No pressure, no jargon — just clear answers about your taxes or your books.