Understanding the IRS Section 179 Election to Expense Depreciable Assets is crucial to making the most of your tax strategy.This provision allows taxpayers to expense certain qualifying assets upfront instead of depreciating them over a period of years.However, there are several factors to consider when using this tax tool.Let’s break down how it works:What Is Section 179?

I did qualify I quit my job last month to focus more on real estate investing, and I want a GC license so I can contract my own builds.

I am a little frustrated at how maybe people suggest syndication because most syndication requires you to be a accredited investor, which not everyone qualifies for, especially younger investors.

I often get first looks for my clients on properties from developers, listing brokers, and individual property owners because they know I qualify my clients and I am there through the whole process.

Having not yet verified his income, he would well qualify.

It took me filing an extension and going through 3 more bookkeepers before I found one who was qualified and wanted to work with me.

This can be a game-changer, especially in neighborhoods like the South Loop or near revitalizing areas like Pilsen, where property values are expected to rise.Improvement Exchanges: Recent IRS rulings allow you to use exchange proceeds to make improvements on a replacement property while still qualifying for 1031 deferral benefits.

Your best bet is to ensure that there are no material modifications that would in any way harm or even moderately delay the ability to rent it out and qualify as a normal SFR (one lease, one family) or sell on the market to an owner-occupant

For individuals that qualify for this, they can use their rental property losses to offset their active income.

As you build a track record of successful flips/rehabs, you'll typically qualify for better terms, like higher leverage/reduced down payments.