Tax Preparation
STR Tax Preparation
STR tax returns prepared by a specialist who understands the strategy
What's Included
Specialist-prepared returns
- Federal individual income tax return (Form 1040 with all applicable schedules)
- Schedule E / Form 8825 or Schedule C reporting for STR activity
- Depreciation schedule management including cost segregation integration
- Preparation of estimated tax payment vouchers for the following tax year
- Review and electronic filing upon client approval
Pricing
Transparent pricing
| Individual return (1040) with STR activity Single property | $1,500–$2,500 |
| Each additional STR property Added to the individual return | +$1,000 |
| Entity return (1065 or 1120-S) Per entity | $1,500–$2,500 |
| Additional state return Per state beyond the first | +$250–$500 |
A specific fee is quoted in the engagement letter based on your complexity. Payment is due in full at engagement signing.
Why It Matters
STR returns require specialized knowledge
Short-term rental returns involve provisions that require focused expertise to apply correctly.
Guarantee
Built to withstand scrutiny
When Wakefield Tax both builds your strategy and prepares your return, you're fully covered.
Examination Support
When Wakefield Tax builds your strategy through the STR Tax Blueprint and prepares your return, we stand behind every position. If the STR portion of your return is examined by the IRS, you receive 10 hours of audit representation at no additional cost.
The audit guarantee applies when Wakefield Tax both builds the strategy (Blueprint) and prepares the return.
Engagement Scope
What's included and what's not
What's Included
- Federal individual income tax return (Form 1040 with all applicable schedules)
- Schedule E / Form 8825 or Schedule C reporting for STR activity
- Depreciation schedule management including cost segregation integration
- Preparation of estimated tax payment vouchers for the following tax year
- Review and electronic filing upon client approval
Not Included
- Tax strategy or advisory guidance (available through the STR Tax Advisory)
- Cost segregation study coordination (included in the Blueprint)
- Entity formation or legal advice
- Bookkeeping or transaction categorization (available as a separate service)
- Audit representation (available as a project-based engagement)
For year-round strategic oversight alongside return preparation, consider adding the STR Tax Advisory.
Worth Considering
Consider the Advisory
The Advisory provides year-round strategic oversight (quarterly reviews, material participation monitoring, mid-year projections, and year-end planning) that complements tax return preparation. For STR owners who want ongoing professional guidance beyond annual filing, the combination provides comprehensive support.
Learn About the AdvisoryFrequently asked questions
STR returns require specialized knowledge of non-passive activity classification, cost segregation depreciation schedules, material participation documentation, multi-state filing obligations, and entity-level return coordination. STR returns involve specialized provisions that require focused expertise to apply correctly.
Individual return (Form 1040) with STR activity for one property: $1,500–$2,500. Each additional STR property on the individual return: +$1,000. Entity returns (Form 1065 or 1120-S): $1,500–$2,500 per entity. Additional state returns: +$250–$500 per state. A specific fee is quoted in the engagement letter based on your complexity.
Returns are typically delivered within 15–20 business days from receipt of all required documents, subject to filing season volume and complexity. During peak filing season (March through April 15), delivery timelines may be extended. If an extension is necessary, it is filed at no additional charge.
The Advisory provides year-round strategic oversight (quarterly reviews, material participation monitoring, mid-year projections, and year-end planning) that complements tax return preparation. For STR owners who want ongoing professional guidance beyond annual filing, the combination provides comprehensive support.
Get your STR taxes prepared correctly
Specialist-prepared returns for short-term rental owners, delivered in 15–20 business days.
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