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MireGroup CPAs

We are passionate about helping small businesses succeed. We use innovative technology and tools al We are small business advisors.

We love working w/our clients on an ongoing collaborative basis to help them reach their goals.

10/28/2026

Everybody wants the short-term rental loophole.

But there are a few things that can really trip you up if you don’t follow the rules.

I asked for video suggestions recently and somebody said, "give us the common pitfalls with short-term rentals."

Great question. Because the pitch on social media sounds amazing, right?

Buy a beach condo. Rent it out a few nights at a time. Do a cost segregation study. Wipe out your W-2 income.

Here’s how the math works.

Say you buy a $1,000,000 condo. It rents for $60K a year. After interest, HOA dues, and every other expense, you net about $20K.

Regular depreciation runs about $25K a year. Small paper loss.

Now add a cost seg study. An engineering firm walks the property and pulls out the flooring, light fixtures, appliances. Stuff that qualifies for bonus depreciation. Typically 20 to 30% of the property. Call it 25%.

That’s $250,000 of deductions in year one.

Your $20K profit just became a $230,000 loss on paper.

That’s what everybody’s talking about when they say the short-term rental loophole.

But there are two traps.

Trap #1: Material participation.

Renting 7 days or less on average gets you out of the passive bucket. That’s only half the test. You also have to materially participate in the activity. Personally. With proof.

Got a property manager handling everything? That gets hard fast.

Miss this and you’ve done nothing. The loss only offsets passive income. Your W-2 stays untouched.

Trap #2: Depreciation recapture.

Take that $250K deduction and your basis in the condo drops to $750K.

Sell it a couple years later for $900K. Less than you paid for it.

You still have a $150,000 gain.

How? You already enjoyed $250K of that cost as deductions. When you sell, it comes right back as income. And properties normally appreciate.

I’ll leave you with this.

If someone is pushing you to do a cost seg on a short-term rental and they haven’t asked how you’re documenting your average stay or your hours, be careful. That’s an aggressive position. Tough to defend in an audit.

The best real estate advisors I know won’t even take you on as a client without contemporaneous records. Logs kept as you go, all year long.

Short-term rentals can be a great play. Go in with your eyes open.

Document everything. Know your exit before you buy.

10/27/2026

We love to talk about proactive accounting, but the proof is in the client experience.

Awesome to see these recent Google reviews and I'm proud of our team and the results we're committed to achieving for our clients.

10/22/2026

Here's a rundown of what we covered in the latest newsletter. Get the full details here: https://www.mire.group/blog/a-230k-loss-on-a-property-that-made-money

10/20/2026

Important distinction around short-term rentals here

10/16/2026

Great leaders don't set out to be a leader, they set out to make a difference. It's never about the role. It's always about the goal.

Happy Boss's Day to

We are thankful for your servant leadership and all you do to encourage, challenge, inspire and make us better each day.

You

10/15/2026

If you picked up side income this year, read this before April.

Consulting. A lawn service. Driving for Uber. It all counts.

When you work for someone, Social Security and Medicare come out of your check at 7.65%. Your employer quietly matches it. You never see that half.

When you work for yourself, you pay both sides. That's roughly 15% off the top before income tax even enters the picture.

Nobody is withholding any of it for you.

That's why side income produces so many surprise tax bills. The rate was always there. You just never saw the whole thing.

My rule of thumb: set aside about 30% of what you make on the side. Fifteen for self-employment tax, fifteen for income tax. In a higher bracket, closer to 40%.

And if the side income is real money, you may owe quarterly estimates. The next one is due January 15th.

If you want to know what you'll actually owe, we'd love to help.

10/15/2026

Help us wish a very happy birthday to our family and food-loving team member, Macy!

Macy is extremely organized, dependable and loyal. She serves our clients well and is willing to jump in to help any team member succeed.

She's a true team player and we are thankful to have her on our team.

Happy Birthday, Macy! Make it count!

10/14/2026

Are my distributions tax deductible?

I get this one a lot. The answer is no.

A distribution comes out of profits. It comes out of equity. That's a balance sheet transaction, in the same family as paying down a loan.

What you can deduct is salary on a W-2, or guaranteed payments on a K-1 if you're in a partnership.

It works the other direction too. When you put money into your business, that contribution isn't taxable income.

And if your distributions are showing up on your P&L, that's a bookkeeping issue worth fixing. Someone is trying to turn your profit and loss statement into a cash flow statement. Two different reports doing two different jobs.

10/13/2026

Three things I've found in small business books over my career.

None of them are exciting. All of them cost real money.

Health insurance for someone who doesn't work there anymore. I've seen this a ton. An employee leaves or gets terminated, nobody updates the records, and the premium keeps getting paid.

Sales tax. You sell to a customer in a Louisiana parish and don't charge the right rate, so you eat it. Or a filing gets missed and now there are penalties and interest.

Subscriptions. Dues and software nobody uses anymore, or two tools doing the same job.

None of these would ever flag on a tax return. They just drain the bank account, month after month, until somebody looks.

That's what proactive accounting is for. Someone looking at your numbers every month and asking, do we still need this? Is this right?

Small stuff. It adds up.

If you'd like a second set of eyes on yours, we'd love to help.

10/12/2026

You buy something for $4. You sell it for $9.

Do you know those two numbers for everything you sell?

Most owners read their P&L top to bottom and stop there. Revenue, cost of goods sold, gross profit, expenses, net income.

The more useful read is sorting your costs by how they behave.

What it costs to make your product.

What moves when you sell more, like a sales commission.

What you owe every month no matter what, like rent, software, and payroll.
Once you can see that split, you can start projecting. You can say, if I make this much operating income, I break even.

That's also why your accountant puts things like selling a piece of equipment below the line. It's real income. It just doesn't recur, and mixing it in makes your numbers harder to plan from.

If you want help sorting yours, we'd love to help.

Address

1003 S. Hugh Wallis Road Building C
Lafayette, LA
70508

Opening Hours

Monday	8am - 5pm
Tuesday	8am - 5pm
Wednesday	8am - 5pm
Thursday	8am - 5pm
Friday	8am - 5pm

Website

http://www.mire.group/

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