Are Your Real Estate Tax Deductions Actually Legal?

Are Your Real Estate Tax Deductions Actually Legal? CPAs break down what viral videos get wrong. In this live panel, Greg Seay CPA, Simon and Stuart explain real estate tax deductions, real estate professional status, and the short term rental loophole in plain English, including material participation rules, how rental losses work, excess loss limits, and why putting rentals in an S-Corp backfires. You'll learn: • Why LLC formation alone doesn't save taxes • 100-hr / 500-hr material participation tests • REP status: 750 hrs + more than any other job • STR loophole: 7-day average stay rule • When cost segregation and bonus depreciation actually make sense If you own rentals, short-term rentals, or want real estate tax strategies that survive an audit, watch this first. Educational purposes only, not tax advice. Talk to your CPA for your situation. Chapters: 00:00 Don't trust viral tax advice 02:17 Panel intros 06:07 LLC myths debunked 11:30 Material participation explained 12:24 Real estate professional status 14:10 Short-term rental strategy 22:22 S-Corp tipping point 27:49 Cost segregation rules