While I was listening the above book you recommended, I noticed a “cost segregation”, I am wondering if anyone applied this strategy to your rental property? My understanding is that to defend IRS audit, the cost segregation has to be done by account professional with proper documentation.
For my few residential rental property (counted by one hand) in a small town, I used a tax software with a simple 27.5 year depreciation. If you do “cost segregation”, you would have a little more deduction than simple depreciation. Question is, is it worth to hire a tax professional or account to do a “cost segregation” documentation?
Thanks for sharing.
