![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/469361/small_1669759268-avatar-ggpilz.jpg?twic=v1/output=image&v=2)
24 September 2024 | 14 replies
Make sure you do it in writing and give them the proper notice.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/3114723/small_1725655576-avatar-anthonys991.jpg?twic=v1/output=image&v=2)
18 September 2024 | 9 replies
I know that I can write my travel, supplies, and food expenses off of my taxes while on that trip.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/3094141/small_1722984066-avatar-niab16.jpg?twic=v1/output=image&v=2)
25 September 2024 | 8 replies
Anything in writing or recorded is much harder to dispute.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/3119902/small_1726512403-avatar-recostseg.jpg?twic=v1/output=image&v=2)
23 September 2024 | 6 replies
Bonus depreciation is just a special part of the US tax code.It allows you to take accelerated depreciation on portions of your property depending on when an asset is put into service.At the time of this writing, you can write off a huge portion (60% in 2024) of many qualified components that have a useful lifespan of 15 years or less.That means a certain percentage of things like landscaping, sidewalks, latches, appliances, fences, certain flooring, etc is depreciable in year 1.The bonus depreciation rate percentage changes yearly depending on the administration and the tax code.For years 2015 through 2017 first-year depreciation for all the items on a 15-year schedule or less was set to 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019 and then 0% in 2020.But then Trump got elected, and he enacted the Tax Cuts and Jobs Act.That moved the bonus depreciation percentage to 100% from 2017 to 2022.In 2023 it went down to 80% and it’s currently at 60%.Depending on who gets elected again, 100% may be back on the table.Only time will tell.We know that the US government wants to incentivize more development and ownership of RE.They want Americans to continue to build and maintain our physical world.That’s why real estate is one of the most tax-advantaged assets in the US.Depreciation and bonus depreciation for RE are very positive and will likely continue in the years ahead.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/3123021/small_1726985515-avatar-hyunp2.jpg?twic=v1/output=image&v=2)
24 September 2024 | 3 replies
I'm writing on behalf of my partner, not me.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/3123714/small_1727115420-avatar-ericb1116.jpg?twic=v1/output=image&v=2)
23 September 2024 | 2 replies
If someone thinks they can write a 2nd lease with that tenant for the same property for another11 months and still non-renew them at the end of their 2nd term, they are mistaken according to the above referenced law firm.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1954866/small_1635024042-avatar-melissaf77.jpg?twic=v1/output=image&v=2)
24 September 2024 | 9 replies
The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/1307401/small_1621511188-avatar-evanl50.jpg?twic=v1/output=image&v=2)
24 September 2024 | 8 replies
They should be familiar with both real estate as well as writing notes/mortgages.
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/994326/small_1621507043-avatar-mateuszs1.jpg?twic=v1/output=image&v=2)
23 September 2024 | 1 reply
The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
![](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/3088952/small_1722368736-avatar-feliciaw64.jpg?twic=v1/output=image&v=2)
26 September 2024 | 32 replies
But the depreciation would be about 6k a year so your 2k would be tax free plus you could write off another 4k in depreciation.