., up to 300 sq. ft.) or actual expenses.🚗 Mileage Deduction – Standard $0.67 per mile or actual vehicle expenses.💼 Startup Costs – Deduct up to $5,000 in the first year (if total costs are under $50K).📢 Marketing Expenses – Ads, branding, and website costs are fully deductible.⚠️ IRS & BOI Penalties to Avoid:🛑 Late business tax filings = 5% penalty per month on unpaid taxes (up to 25%).🛑 BOI Reporting non-compliance = $591 per day in fines, up to $10,000 + potential jail time.Final Tip: Many business owners work with a CPA to ensure tax compliance and maximize deductions.

My question is how to I do my taxes do I add the vacant property and closing costs or should wait until next year when there’s an actual building?

I actually looked into 2-4 unit properties when I first got here, but they were tough to find, and the ones I did come across were snapped up quickly by all-cash buyers.

I completely understand almost all of the frame work and bases but just need actual advice from someone one on on.

I have several multi families on the west coast  ( one that I actually manage my self in California) and it’s just one maintenance reserve fee for all doors , and a % of the total rent usually ( 8%-10%).  

The return on your investment based on the actual capital invested. 

He (with my help) actually just did a cash out refi with a local bank at 80% LTV on 40 units that cashed him out 7 figures.Are you looking to do more of these types of projects?

It helps absorb the cost of your payment and gives you a better understanding of how REI actually works.

You actually save by not having to spend office time to go through the submission process. 

Margins getting thinner.ADRs have actually decreased significantly in my market (Denver) since 2022.