Melanie Baldridge
"Does the IRS require site visits for cost segregation studies?"
13 November 2024 | 10 replies
I just had to provide list of equipment bathrooms parking and hvac etc etc.. and pictures to back it up.land to building ratio So I helped her through it and it worked out great for us.
Collin Schwartz
Trading W-2 for Self Management- 0-92 Units in 16 months!
1 December 2024 | 377 replies
I had a good-paying job at a Silicon Valley equipment manufacturer.
Brandon Weis
Exercise Equipment: Function vs Aesthetic
2 November 2024 | 9 replies
I'm asking specifically because I am thinking about throwing a treadmill or elliptical machine in the living room if the person wants to exercise a little while they're there.The unit isn't huge (around 1k sq feet) and it will probably look tacky, but I was wondering if other people have found value in providing some simple exercise equipment, even if it seems out of place.
Brandon Brock
Eddie Speed Note School
7 December 2024 | 150 replies
Consider auto loans, inventory, commercial paper, annuities and even RE and equipment leases.
Paul B.
Nevada LLC and privacy
8 November 2024 | 6 replies
I called the Nevada Secretary of State office, and the phone representative confirmed that I called the right place to field questions about a Nevada LLC, yet they weren’t equipped to answer my question.Does anyone have some insight?
Julio Gonzalez
When to Capitalize vs Expense
5 November 2024 | 0 replies
A capital expenditure is money spent by a business or organization on acquiring or maintaining fixed assets, such as land, buildings, and equipment.
Dayton Bishop
How to get into investing even though I have no money to do so
8 November 2024 | 10 replies
Sure, there are limited exceptions but the investors in your shoes are not equipped to identify those limited exceptions.
Miles Williams
Happy to have Found BP!
6 November 2024 | 4 replies
Initially I really wanted to do a STR down in North Padre Texas (as it is a place I have vacationed for years and have stayed in at least 8-10 of the STR in the exact complex im looking into, I see how my STR could stand out amongst the rest since Im huge fisherman down there and that is mainly what those STR are used as, already have boat rental option setup if I go this route, list of fishing and possible guides to go with depending on style of fishing, family, fun, hardcore wade fisherman etc etc and equipment rental available for those that do not have.), the places im looking at are decent $ properties that after running through calculators etc showing 18-22% CoC after management fees etc.But after listening to BP for about a month, now thinking BRRRR possibly and doing up here in the DFW area.
Melanie Baldridge
Understanding the IRS Section 179 Election
1 November 2024 | 0 replies
Section 179 of the Internal Revenue Code allows businesses to deduct the full purchase price of qualifying equipment and software up to an annual limit.In 2024, for example, taxpayers can expense up to $1,220,000 of qualified assets.This election can apply to many types of tangible personal property, such as machinery, equipment, and off-the-shelf software, which are used predominantly in your business.Limits on Section 179 ExpensingAs attractive as Section 179 may seem, there are limits.For tax year 2024, the maximum investment limit is set at $3,050,000.If your business places more than this amount in service, the amount you can expense is reduced dollar-for-dollar over this threshold.In addition to the dollar and investment limits, the amount of your Section 179 deduction cannot exceed your taxable business income for the year.This means that even if your business invests heavily in qualified property, the deduction could be limited by the business’s profitability.Also, not all property qualifies for Section 179.Real property, like buildings and structural components, generally does not qualify unless it is "qualified improvement property."
Zachary Engen
Micromanaging my STR property manager
6 November 2024 | 18 replies
That would be like showing a BBQ battle with Bobby Flay, and you whip out baking equipment.