Nick Ghirardo

[noscroll @noscroll]

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[Nick Ghirardo @NickGhirardo]

@SmithMatthewC Yes. Same boat and yes. The other two don’t come close when it comes to Excel in particular. Claude is next level.

[Nick Ghirardo @NickGhirardo]

@rledbetterCPA Please keep writing. The profession generally, and I personally, need it. Every post is must-read. Full of insights that I don’t see anywhere else.

[Nick Ghirardo @NickGhirardo]

@ankurnagpal GUIDE

[Ankur Nagpal @ankurnagpal]

This is the most valuable resource I have ever created

I wrote a brand new, extremely detailed Notion guide on every single strategy to save money on taxes

The best of my content in a single place

Want a free copy?

- Like / RT this post
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[Nick Ghirardo @NickGhirardo]

@jasononfirms @ThetaSigma52 1040

[Jason Staats⚡ @jasononfirms]

We put together a (new) 50-minute masterclass on how to optimize your 1040 tax prep process

5 members of my team spent 2 weeks on this one. It may be the most complete 1040 workflow resource on the web.

It's broken down into 11 steps:

1. Engage
2. Schedule
3. Intake
4. Workpaper Prep
5. Request
6. Input
7. Self-Review
8. First Review
9. Partner Review
10. Billing
11. Delivery

For each step we cover:

• The ways firms do (or don't) do it
• The leading tech to enable it
• Whether AI can automate it
• And how to deskill it

Important: you'll be shocked to see how firms use wildly different levels of expertise to get the same work out the door, so deskilling is a big talking point throughout the video.

I'll DM you the private link, no email addy required:
1. Reply with "1040"
2. Retweet

Let's get those 1040s out the door like never before 🤜🤛

[Nick Ghirardo @NickGhirardo]

@redwood_ryan_a @joeybaum13 @mhprvpmvp This and/or can be used to offset other passive income in the current year. So, if they have highly depreciated assets generating positive taxable income, then the bonus depreciation on the new property can help shield the passive taxable income from the others.

[Nick Ghirardo @NickGhirardo]

@Jmrothenberg Jeff - been enjoying your STR content and following your journey.

I am trying to stay current with AI as well. I’d recommend following @emollick closely and this list: https://t.co/8DlVVvyRBE

[Nick Ghirardo @NickGhirardo]

@YieldOnCostSTR @imrichardfertig Can even get this without REPS!

The beauty of the STR.

[Nick Ghirardo @NickGhirardo]

@DallasAptGP Only used Fireflies AI so far, but it’s incredible. $29/mo for a business account but a gamechanger for meetings and team trainings.

[Nick Ghirardo @NickGhirardo]

@ignatiuscpa @TannerClark10 @CPATaxTeam I agree with Tanner and Ignatius. Rotating the cleaners might do the trick but would want to document the time by cleaner in a time log - at least reasonable estimates. I’d also ask when they terminated the PM. May need to substantiate that no employee there exceeded 100 hours.

[Nick Ghirardo @NickGhirardo]

@CXCarroll @CRELeasingLawTX @rohindhar @S___Elliott @Stuart_Adams Unless you 1031…

[Nick Ghirardo @NickGhirardo]

@rohindhar CPA’s too!

[Nick Ghirardo @NickGhirardo]

@CRELeasingLawTX @S___Elliott @rohindhar @Stuart_Adams That is true for most real estate.

For STR you can offset against active income (W2) if average stay is less than 7 days, and if you can show material participation - more than 100 hours on it and no one has more than you for the year. Hard with cleaners but not impossible.

[Nick Ghirardo @NickGhirardo]

@rohindhar Agreed.

Why not allow us to respond to “Do you recommend this guest to other hosts?” without forcing a public review?

If a guest gets too many no’s (maybe 1!), then they can’t instant book and their recommended % (yeses/total stays) is shown to the prospect host.

🤔

[Nick Ghirardo @NickGhirardo]

@YieldOnCostSTR @rohindhar A purpose-built STR community in a QOZ surrounding the Dharnival known as Roh-chella… 🤔 🤔 You may just have something there.

[Nick Ghirardo @NickGhirardo]

@Superhuman @buildingMadrid Is this one of the features in beta, or is this something anyone can access? I would love to try it!

[Nick Ghirardo @NickGhirardo]

@rohindhar @prewittchris Sure thing!

Reading this right from the IRS made me much more comfortable about employing the strategy.

https://t.co/2hK1sxE1xa

Sections 2-9, 2-11, 2-13, 4-12

[Nick Ghirardo @NickGhirardo]

@rohindhar @prewittchris Yes, Chris is spot-on. The IRS has an Audit Technique Guide making it clear what needs to be done and documented.

Showing that you (+spouse) have more hours than your cleaner for the year is a challenge for many. A close late in the year makes this easier to overcome.