All Forum Posts by: Spencer Dixon

So much wonderful information here. Thank you for all the responses. 

UPDATE*

I reached out to locally CPA and they claim they can handle preparing my taxes in addition to handling a bonus depreciation. With that said they are quoting me $250/hour to consult in tax planning services in addition to the tax preparation fees. 

MY QUESTION(s):

Do I have to get a cost segregation in order to determine the bonus depreciation amount for the home I'm purchasing?

I've really enjoyed doing my own taxes and doing them through turbotax. Is it possible to do the above stated method through turbotax or do I HAVE TO use a CPA or other tax professional? (Sorry all the tax professionals that responded, I know you are better at this than your average consumer)

Is there a way to ballpark how much bonus depreciation I may even be able to use as a tax loss to offset income? Trying to get a sense if it's even worth exploring this on a smaller scale like I'm talking about.

I've already lined up a property to purchase in 2025 for roughly $450,000. I am a full time real estate professional and my spouse as a state employee W2 paid job. I plan to keep this property for the long run and am considering options for bonus depreciation.

I'm familiar with concept and benefits of bonus depreciation but I'm not sure where the current law stands and the bill that was floating around congress. Any insight on this front?

Is there anything I can do in the run up until the purchase to be prepared for doing a bonus depreciation or cost segregation report etc....?

Thanks

Do you have a favorite company to build out a website for a real estate company? Company will include brokerage services and property management. Pretty simple website used primarily for the landing page and connecting to warm leads. Squarespace and Wix were the ones recommended so far but haven't gotten specific reviews.

I'm trying to figure out best way to have as little money come out of my pocket as possible. Here is the deal:

I am in a rent to own situation for an investment property.  (I'm also a real estate agent)

In 1 year from now I have option to buy the property for the existing loan ($376,000 in one year) plus $45,000 directly to the seller. I will need to get a loan on the property and given it's an investment (will not owner occupy) I'll need 80% down. I'm fairly confident the home would appraise for $470,000 - $490,000 in October 2025. 

Options? Make purchase price $475,000, lender gives me $380,000. Seller would only need additional $41,000 leaving space of $54,000 between my offer price and what seller gets. I will be paying ALL closing costs, can the seller just give me an incentive for that $54,000 or is that in some way fraud for inflating a price?  This would only leave me with $41,000 to bring to closing + closing fees

Just make purchase price $421,000 loan would only be $336,000. I would then need to bring $85,000 + closing fees to closing which seems like the worst case scenario 

Is there an option I'm missing???

Current loan on property is not assumable.