Rental Property Taxes in North Miami: Deductions & Depreciation Explained
Own a duplex in Keystone or a short-term rental near Sunny Isles? The tax code was written for landlords — here's how to use it.
Depreciation: the silent superpower
Residential rentals depreciate over 27.5 years. A $400K North Miami duplex generates ~$14,500/year in non-cash deductions.
Repairs vs improvements
Repairs deduct fully in year one. Improvements capitalize and depreciate. Painting = repair. New roof = improvement.
Short-term rentals (STR) rules
Under 7-day average stays = active business, subject to self-employment tax but eligible for cost segregation and 100% bonus depreciation on many components.
Miami-Dade tourist tax
Short-term rentals must register with Miami-Dade Tax Collector and collect 6% Tourist Development Tax on top of Florida's 7% sales tax.
Cost segregation for larger properties
For properties over $500K, a cost seg study accelerates 20–35% of the basis into 5, 7, and 15-year classes — huge first-year deductions.