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29 September 2024 | 13 replies
And it's cut down my time spent bookkeeping by a huge amount, since I'm no longer searching Quickbooks forums via google for obscure workarounds specific to real estate.
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24 September 2024 | 0 replies
The tax advantages of buying/holding gas stations are pretty great.Many of the components of gas stations including pumps, tanks, external parking areas, and other equipment are classified as either 5 or 15 year property so you can bonus depreciate a lot of it (minus the land value) and get significant deductions in year 1.With the current bonus depreciation rate at 60%, a $1 million gas station acquisition could still lead to $100K+ in year 1 deductions depending on the specifics of your deal.
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26 September 2024 | 11 replies
"Over the last four tightening cycles, the time between the first hike and first cut averaged 2.2 years, and never exceeded 3.2 years" - credits for www.pensford.com
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25 September 2024 | 6 replies
With the recent rate cut by the Fed, most banks are not offering this rate.
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24 September 2024 | 0 replies
Assets identified in this study include:Building systems: water heater, electrical distribution, HVAC, plumbinPermanent Fixtures: windows, doors, bathroom fixturesStructural Components: Roof construction, drywall, wood framingInterior Construction: Wood flooring, stairs, ceramic tileThis engineering-based cost segregation study included the following methodology:Physical Inspection through a site visitDocumentation review including architectural plans, accounting records and construction documentsA cost analysis which utilizes engineering principles in order to allocate costs to their applicable asset classificationsCalculation of the depreciation schedule using MACRSAs a reminder, bonus depreciation started to phase out in 2023.
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24 September 2024 | 2 replies
Those numbers do not seem correct, unless you are using terms like loan amount of $104,000 is the unpaid principal balance (which is the amount that accrues interest), and the $270,000 is the total payoff.There are two components to a mortgage statement - the first is the reinstatement amount - this is the amount to bring the loan current.
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27 September 2024 | 15 replies
It was worth every penny because now I’m properly organized and it significantly cut down the amount of time it took my accountant to prepare my taxes.
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2 October 2024 | 48 replies
Why would you cut yourself off from a large segment of people.
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26 September 2024 | 10 replies
But I would recommend cutting out the middle men.