3 Things I would never do as a real estate CPA

As a real estate CPA who worked with investors nationwide, here are the 3 things I would never do as an investor:

1. Never put my rentals into Corporations. When you put rentals into Corporations, you could be limiting your ability to use rental tax benefits.
2. Never skip out on depreciation. Not only is depreciation a tax benefit offered by the law, but it is also a requirement that you claim it. If a tax advisor tells you to skip out on taking depreciation, run the other way!
3. Never form too many legal entities. No matter what anyone tells you, legal entities are not required for tax deductions. Don't spend a ton of money on unnecessary entities, from the ones that are needed for your specific situation.