All Forum Posts by: Austin White

Thanks @Melissa Nash! Yes, I'd love to take a peak at that pdf if you don't mind sharing. I'll reach out to you directly. We have a portfolio of 10 properties so I whole heartedly agree with all your points, but this was the first year filing with STRs on the books so trying to get our ducks in a row! Thanks for the reply. 

 Thanks @Julio Gonzalez. Just reached out to connect. Would certainly appreciate any recommendations. Thanks

@Michael Baum yes, there is reason to not believe her because she doesn't have much experience with handling short term rentals. I am in the process of reaching out to other tax advisors now but wanted to get the feedback from the community as well. 

Does anyone run into the challenge of Alternative Minimum Tax? If so, how do you handle? For the example of a physician who gets a $250k deduction through bonus depreciation, it sounds like the AMT would still require them to pay a higher amount of taxes correct?

Community - My wife and I are high-income earners, each with salaries greater than $150,000 per year. We file separately for a student loan strategy. We purchased, renovated, and placed our first short term rental in service at the end of 2022. We were able to bonus depreciate $40,000 through a cost segregation study which I planned to use to offset some of my tax federal taxes of $40,000. When it came time for filing, my CPA told me that I would not be able to use the bonus depreciation because of the Alternative Minimum Tax (AMT). All I've heard is how beneficial this loophole is for high W-2 earners but how is that the case with the AMT impact? The examples I regularly hear are for physicians, tech workers, etc. who certainly make well more than what we make so how are those individuals not impacted by the AMT? I haven't heard it discussed on any podcasts or forums. Any help or guidance would be greatly appreciated. Thanks in advance!

Community - My wife and I are high-income earners, each with salaries greater than $150,000 per year. We file separately for a student loan strategy. We purchased, renovated, and placed our first short term rental in service at the end of 2022. We were able to bonus depreciate $40,000 through a cost segregation study which I planned to use to offset some of my tax federal taxes of $40,000. When it came time for filing, my CPA told me that I would not be able to use the bonus depreciation because of the Alternative Minimum Tax (AMT). All I've heard is how beneficial this loophole is for high W-2 earners but how is that the case with the AMT impact? The examples I regularly hear are for physicians, tech workers, etc. who certainly make well more than what we make so how are those individuals not impacted by the AMT? I haven't heard it discussed on any podcasts or forums. Any help or guidance would be greatly appreciated. Thanks in advance!

Hi community, I'm in search of an investor savvy appraiser in Pennsylvania (Allentown, Poconos area). Please let me know if you know of anyone I can reach out to. Thanks in advance!

Hi community, I'm in search of an investor savvy appraiser in Pennsylvania (Allentown, Poconos area). Please let me know if you know of anyone I can reach out to. Thanks in advance! 

@Adam Schneider thanks - thought I had but it was late. Property is in Fayetteville, NC

BP community, I need your help. The property in question is in North Carolina.

I purchased a foreclosed property from the courthouse back in April this year. Unfortunately, the previous owner refuses to leave. We initially offered cash for keys with no luck. Then, my property manager formally notified him that he was being evicted. We then waited the required 30 day period. Today was our court date and the magistrate said that the eviction process for a tenant (with a lease in place) is not the same as with a previous owner so he closed the case. He notified my PM that I required an attorney to file a criminal claim against the individual. I'm tying to figure our exactly what the next steps should be. Do I absolutely need to get an attorney involved to file a suit or can I have the Sheriff file a report of trespassing? The property is legally and lawfully in my name.

Any help/insight is greatly appreciated. Thanks