WCG CPAs & Advisors can help launch your venture, and provide tax prep, tax planning and reduction strategies, accounting services and routine business consultation.
WCG CPAs & Advisors makes tax return preparation a snap with easy to use checklists and smooth tax return delivery including ongoing tax planning and reduction strategies. We are your advocate!
WCG CPAs & Advisors provides a ton of resources including blog posts, and our LLC S Corp and Rental Property books for your education and tax reduction strategies.
Property managers carry the heaviest load. Owners call you for everything from broken dishwashers to STR loophole questions, which is flattering until it becomes a distraction. A tax partner who absorbs the technical stuff keeps you from becoming a part-time IRS whisperer.
WCG strengthens the full 360° owner experience. When tenants, PMs, CPAs, and strategy all align, owners stay calmer, happier, and way less likely to fire off midnight emails about material participation theory.
Tax questions shouldn’t hijack your busy season. Material participation tests, cost seg timing, Schedule E vs C… none of those belong in the same sentence as guest turnover schedules or contractor no-shows.
A trusted CPA handoff elevates your professionalism. “Ask your CPA” sounds like a punt; “Let me bring in our trusted real estate CPA team at WCG” makes you look like you have a bench as deep as the Packers.
The Rental Expert Pod takes complexity off your plate. Our REP team, a small group of real estate experts, lives and breathes rentals, so you don’t have to memorize whether a kayak is de minimis or what QIP actually stands for (and how it is often overlooked as a lovely tax deduction).
A strong CPA partnership drives owner retention and growth. Owners who understand their tax footprint reinvest more, stay longer, and view you as part of a premium, well-coordinated support system — which means more units and fewer headaches.
Property Managers Deserve a Real Estate-Minded Tax Partner
Property managers already wear more hats than anyone gives them credit for. You are the operations center, the logistics hub, the crisis-response unit, the guest concierge, the renovations coordinator, and the owner’s emotional support line — all rolled into one. When guests arrive early, when the dishwasher quits, when the linens go missing, or when a storm knocks out half the power on a Saturday night, owners don’t call their real estate CPA. They call you. And you handle it. Every time.
But here’s the challenge: rental property owners also turn to their property manager for tax and financial questions — and they do so because you are their most trusted rental property professional. You’re in the trenches with them. You understand their short-term rental better than anyone. Which means you inevitably get questions like, “I just did a cost seg study. Should I take 100% bonus depreciation this year?” or “Is this a Schedule E or Schedule C thing?” or everyone’s favorite, “Do I need to track my cleaner’s hours for material participation and the STR loophole?”
Those questions shouldn’t be on your plate, yet they always seem to find their way there. Next thing you know, your owner is asking what wine pairs with their Cheerios in the morning. Geez.
That’s where WCG comes in. WCG CPAs & Advisors is a real estate–focused CPA firm (including a dedicated rental expert team, see below) that works alongside property managers as an additional trusted professional — someone you can redirect owners to with confidence and without feeling like you’re punting the responsibility. Together, we strengthen the 360° owner experience: satisfied tenants → smooth property management operations → proactive tax preparation and planning → confident wealth-building. When all four components align, owners stay engaged, supported, and loyal to your management services.
The 360° Experience: Why Owner Satisfaction Is a Team Sport
A rental property is not simply a unit or an address — it’s an ecosystem. As mentioned, there is an interdependence between tenant experience, property management, tax compliance, and long-term investment strategy. If any link fails, the owner’s overall experience declines. An exceptional tenant experience can be overshadowed by a confusing tax situation. Great property management can lose its shine if the owner feels uninformed about tax strategy. And even a flawless CPA cannot salvage the relationship if the owner feels frustrated with day-to-day operations. Everything matters because everything is connected.
WCG fits into this ecosystem as the financial steward — the partner who helps owners understand their tax footprint, make informed decisions, and avoid unnecessary surprises. This brings stability to the owner relationship, clarity to the financial side, and support to the property manager who is often stuck in the middle of financial conversations they never intended to navigate. When property managers and WCG operate in sync and lean on each other, owners gain a complete support structure. They experience less confusion, fewer mixed messages, and much more confidence.
The result is simple: owners who feel supported at every angle stay longer, invest more, and view both the property manager and the real estate CPA as integral to their success.
Rental Property Tips, Tricks, And Hacks
Each tip, trick or hack has just a few words describing the move. We are following the mini skirt rule- short enough to keep it interesting, but long enough to cover the topic. Most of these are expanded in various sections of our rental book.
What Owners Commonly Ask (and How WCG Helps You Answer)
Below are the most common questions owners ask — with clarity on how WCG steps in.
A. “How do I classify this rental? Schedule E or Schedule C?”
Short-term rental classification causes endless confusion. Owners mix up the rules constantly, especially when average stays vary or when services are provided. You don’t need to interpret code sections — just flag the question and we determine the correct tax treatment.
Spoiler: unless you or the owner are providing hotel-like services (daily linens, concierge, airport transportation), short-term rentals are reported on Schedule E.
B. “What’s this STR loophole thing?”
Owners hear “short-term rental loophole” and assume it’s a magic tax deduction button. They rarely understand material participation requirements, hour logs, or average-stay thresholds. Property managers often know the high-level rules and feel compelled to answer — but shouldn’t have to. Redirect them to WCG; we walk owners through the details and strategy.
C. “Can I materially participate if I hire a property manager?”
One of the biggest misconceptions among new owners. Many worry that hiring a PM disqualifies them from participation. WCG clarifies that a property manager does not prevent material participation — in many cases, the opposite is true. A PM augments owner involvement rather than replaces it. Sure, we need to track everyone’s time — yours, cleaners, contractors, the owner’s — but once owners understand the rules, they quickly see that professional management is not a barrier.
D. “Is my hot tub deductible? Water heater? Kayak? Patio set?”
Owners love asking this one. Property managers handle the operational side — installation, coordination, vendors — while WCG determines the correct tax treatment.
Spoiler: hot tubs depend on installation and rental type; water heaters are generally de minimis or routine maintenance safe harbor; kayaks and patio sets are typically de minimis.
E. “Is that a repair or an improvement?”
A deceptively simple question with real tax implications. Property managers document the transaction; WCG classifies it correctly. You don’t need to debate capitalization thresholds or Qualified Improvement Property (QIP).
F. “Should I consider a cost segregation study?”
Owners hear about accelerated depreciation from friends or TikTok gurus. PMs should never weigh in on this. WCG assesses whether cost segregation makes sense based on property type, expected income swings, material participation, and long-term plans. Sometimes waiting a year is more strategic — especially if income will be higher later.
In short: property managers look smarter, feel lighter, and reduce risk when WCG handles technical tax questions.
Short-Term Rental Loophole
Learn more about the benefits, challenges and pitfalls of the short-term rental loophole.
Marriage: STR Meets Bonus
Read our blog post titled The Perfect Tax Marriage: Short-Term Rentals Meet Bonus Depreciation
Here is WCG’s Simplified Rental Operations worksheet (what we call the “SRO”). Like most spreadsheets, they are only meaningful to the spreadsheet designer, so we are happy to walk you or your owner through it.
Here are some considerations when property managers are looking to partner with a rental property CPA firm-
1. Dedicated Point of Contact — Powered by the Rental Expert Pod (REP)
WCG’s Rental Expert Pod (REP) is the firm’s dedicated team of real estate CPAs and rental-property tax specialists. Instead of relying on one “rental person” or a generalist who occasionally handles real estate, the REP delivers deep, consistent expertise across acquisition costs, STRs, LTRs, cost segregation, material participation, REPS, operational expense deductions, depreciation methods, and all the fun things in between.
The REP partners with each client’s primary tax return preparation Pod (led by a partner or tax manager with 5–6 Podmates), ensuring every owner receives guidance from specialists who handle rental complexity all day, every day. It’s far more effective to hyper-train a focused team of rental experts than forty generalists trying to remember how to categorize a garage conversion or a mid-year STR-to-LTR shift.
This small-team model creates consistent outcomes, smarter planning, and better owner experiences — and it gives property managers a predictable, reliable tax partner. The REP participates not only in tax preparation but also in advisory and strategy meetings, helping owners understand their options and make confident decisions.
2. Quick-turn answers for owner questions
No more back-and-forth between owners, PMs, and unresponsive CPAs. WCG answers quickly so PMs aren’t stuck playing tax ping-pong.
These one-pagers help PMs look organized and resourceful — and let them move on to the next fire.
4. Owner education without overwhelming anyone
WCG explains complex topics clearly and directly, so education never falls onto the PM’s to-do list.
5. A smooth, professional handoff process
PM makes a simple introduction.
WCG hosts the discovery call and handles onboarding.
PM is instantly out of the tax weeds. Yay!
Let’s Elevate the Owner Experience Together
The rental property ecosystem works best when everyone performs their highest-value role. Property managers bring operational excellence, guest satisfaction, and day-to-day leadership. WCG brings tax strategy, compliance, and long-term clarity. Together, we create the seamless 360° owner experience that keeps investors happy, confident, and committed to growing their portfolios.
If you are a property manager looking to elevate your owner experience, reduce stress on your team, strengthen your service offering, and build a deeper support system for owners, WCG is ready to partner with you.
Advanced Tax Strategies
Many of these aggressive tax strategies hinge on fine legal distinctions: how much you participate, who takes the risk, and whether there’s a reasonable expectation of profit.
I just got a rental, what do I do? Purchasing a rental property is certainly challenging, but operating one to build wealth and find tax efficiency is equally challenging. This is our second book. Our first book, Taxpayer’s Comprehensive Guide to LLCs and S Corps, was first published in 2014 and was well-received by small business owners and tax professionals, so we thought a book on rental properties and real estate investments would be equally helpful. So, here we are with our second iteration, or the 2025 edition. We update it frequently throughout the year (last update was October 6, 2025).
Our rental property book starts with entity structures and moves into asset management such as acquisition, cost segregation, rental safe harbors, repairs versus improvements, accelerated depreciation, partial asset disposition, and 1031 like-kind exchange. From there we discuss various rental considerations like passive activity losses, short-term rental loophole, real estate professional status, and material participation including what time counts, and what time doesn’t count.
Finally, the good stuff! Rental property tax deductions such as travel, meals, automobiles, interest tracing, home office and common expenses. Fun!
It is available in paperback for $19.95 from Amazon and as an eBook for Kindle for 15.95. Our book is also available for purchase as a PDF from ClickBank for $12.95.
We Are Real Estate CPAs
WCG has a team of real estate CPAs ready to assist you with your rental property and real estate investments. Very few tax professionals and CPA firms specialize in real estate to provide you solid consultation, tax planning including tax reduction strategies, and tax return preparation. We are experts in-
This book is written with the general rental property in mind. Too many resources tell you the general rule but don’t bother to back it up with Internal Revenue Code, Treasury Regulations and Tax Court cases. Our book lays it all out, explains the madness, adds some humor and various conundrums. Example? Water heaters and hot tubs- crazy stuff to consider.
Enjoy! And please send us all comments, hang-ups and static. This book is as much yours as it is ours, except the tiny royalty part- that’s ours. Stop by and we’ll buy you a beer with the pennies.
How To Purchase Our Rental Property Book
If you buy our 480-page book and think that we didn’t help you understand rental property tax laws, let us know. We never want you to feel like you wasted your money. If you are ready to add some insightful reading into your day, click on one of the preferred formats. Amazon is processed by Amazon, and the PDF is safely processed by ClickBank who will email you the PDF as an attachment.
Why do my owners ask me tax questions instead of their CPA?
Because we duck their calls and you don’t. Ok, kidding! You’re the person they trust most and the only one who answers the phone on weekends. We help redirect those questions so they stop landing on your doorstep.
Will bringing in WCG make me look less knowledgeable?
Nope. It actually makes you look more connected and professional — like you have a specialist you keep on speed dial for the tricky stuff. “Grandpa, what’s a rolodex?”
Does hiring a property manager stop an owner from materially participating?
Not at all. Massive misconception. Owners can still meet material participation tests, and your involvement can actually help clarify hours and workflows rather than block them. WCG is a big fan of using property managers and slotting the owner in as necessary material participation.
Can I tell owners whether something is a repair or improvement?
You can document it, photograph it, describe it, and politely curse it — but WCG will classify it. That keeps you out of IRS interpretation contests.
Do I need to explain the STR loophole to owners?
Absolutely not is the easy answer, however, having a high-level “here is the general gist” approach might be helpful. However, when handing off to us, we’ll explain the basics but also add all the nuances to ensure compliance.
Should I weigh in on cost segregation questions?
Nope. Owners love asking about bonus depreciation, but we’ll handle the analysis so you’re not playing what-if and doing math in public during turnover times.
What exactly does WCG do for my owners?
We handle all the specific rental property tax questions, provide tax planning and strategy sessions, offer guidance on entity structure, and round everything off with tax return preparation.
How fast does WCG respond when I send an owner our way?
We respond to introductions within 24 hours. We know you’re juggling fifty other fires, so we keep the ball moving and the owner reassured.
Will WCG help educate my owners so I don’t have to?
Yes. We translate complex rental tax topics into owner-friendly language and provide one-pagers you can send without needing an advanced tax degree. Teaching people how to fish versus offering fish.
What’s the benefit of partnering with a rental-focused CPA?
Your owners stay happier, understand their numbers (tax consequence) better, and stop dragging you into tax theory debates — all while you look like the hero who brought in real experts.
Table Of Contents
Tax Planning Season
Tax planning season is here! Let's schedule a time to review tax reduction strategies and generate a mock tax return.
Did you want to chat about how we can help each other, and more importantly our rental property owners? Curious about how all this works? Let’s chat!
The tax advisors, business consultants and rental property experts at WCG CPAs & Advisors are not salespeople; we are not putting lipstick on a pig expecting you to love it. Our job remains being professionally detached, giving you information and letting you decide within our ethical guidelines and your risk profiles.
We see far too many crazy schemes and half-baked ideas from attorneys and wealth managers. In some cases, they are good ideas. In most cases, all the entities, layering and mixed ownership is only the illusion of precision. As Chris Rock says, just because you can drive your car with your feet doesn’t make it a good idea. In other words, let’s not automatically convert “you can” into “you must.”
Let’s chat so you can be smart about it.
We typically schedule a 20-minute complimentary quick chat with one of our Partners or our amazing Senior Tax Professionals to determine if we are a good fit for each other, and how an engagement with our team looks. Tax returns only? Business advisory? Tax strategy and planning? Rental property support?
Text WCG Offices
Need to get in touch through a quick text? We'll respond within a day.
Call Our Team
Need to speak to a tax professional now? Give us a call 719-387-9800 and we'll get you connected.
Chat With a Tax Pro
Taxes can be tricky. Chat with a WCG human now and get questions answered.
After almost 6 years with this CPA group, there is NO ONE else we would trust to do our taxes.
They've made my complicated business life simple and I'd recommend them to anyone with a slightly complicated-to-overwhelmingly complicated tax strategy!
Working with WCG was so easy, shout out to Sally Rhoades who handled my complicated tax situation this year wonderfully and was available for all my questions.
It's a wonderful and rare treat to find a company like WCG these days with their high level of service, personal approach, and deep knowledge of accounting.
WCG CPAs & Advisors can help launch your venture, and provide tax prep, tax planning and reduction strategies, accounting services and routine business consultation.
WCG CPAs & Advisors makes tax return preparation a snap with easy to use checklists and smooth tax return delivery including ongoing tax planning and reduction strategies. We are your advocate!
WCG CPAs & Advisors provides a ton of resources including blog posts, and our LLC S Corp and Rental Property books for your education and tax reduction strategies.
I just got a rental, what do I do? Purchasing a rental property is certainly challenging, but operating one to build wealth and find tax efficiency is equally challenging. This is our second book. Our first book, Taxpayer’s Comprehensive Guide to LLCs and S Corps, was first published in 2014 and was well-received by small business owners and tax professionals, so we thought a book on rental properties and real estate investments would be equally helpful. So, here we are with our second iteration, or the 2025 edition. We update it frequently throughout the year (last update was October 6, 2025).
