All Forum Posts by: Kevin Johnson

Has there been any movement on reinstating 100% Bonus Deprecation for the 2023 tax year? Any insight on if/when that will still happen? 

Quote from @Lisa Graesser:

I have 4 homes in a golf cart community and each house has a golf cart included with the rental. I have a separate golf cart waiver and golf cart insurance.

Hey Lisa, I’m in the process of purchasing a golf cart for our beach rental in NC and I’m having trouble placing the insurance. Also, we are looking to have a waiver as well. Would love to connect and pick your brain. Thank you! 

@Vanessa Van Muyden Hey look on the bright side, you’ve just increased your property tax deduction for 2022 taxes! 

Originally posted by @Bonnie Griffin Kaake:

Hi Brian, If you don't already know, as a short-term rental you must depreciate this property over 39 years like a business rather than a residential rental. You can also do and engineering-based cost segregation study, the IRS' preferred methodology, and get a lot of that depreciation up front. This would likely give you $12k to $20k in after-tax cash-flow right away. 

Bonnie isn’t that only the case if you are considered a “real estate professional”? If this is passive income i.e. schedule E, this should be depreciated over 27 1/2 years. No? 

@Brandon Goldsmith thanks for the reply, any suggestions on where to start when looking for these deals? Who to connect with? 

Hey BP! Looking to connect with ppl in the Columbus, OH area for BRRRR opportunities that I want to invest in. I'm originally from OH, but live in Baltimore, MD now where I have a few rental properties. I have family in Columbus that live in the Old Towne East/Franklin Park area and I feel this is a great area for looking into BRRRRs. Again, looking for ppl to connect with, help find deals, contractors, lenders, etc. thanks!

I’m on my 3rd house hack and this is the first time I’ve had this situation happen. I have a college student (age 19) interested in renting a room in my newest house hack. I will be living here with two other ppl (all over the age of 21). The question is, am I opening myself up to a liability by having an underage person renting/living with me when it comes to alcohol consumption? i.e. having friends over and there being alcohol, knowing that one of my roommates is not of drinking age. What do I do?