Let's look at your example of a roofer, assuming he owns the company.He has to pay for employees- they still get paid, even if they are not giving 100% effort.He has to pay his workers to go back for warranty work - effectively paying them to do the same job twice.He has to pay for equipment, even when it's not being used 100% of the time.- but the company he bought it from still gets paid.He has to pay for advertising, whether it works or not.- but the advertising company still gets paid.He has to pay for accounting services, payroll services, tax services, legal services, etc.- they all get paid whether he makes money or not.So, what's your point?

In your case, changing the property from a rental to your primary residence constitutes a change in use.The depreciation recapture will be calculated based on the fair market value of the building at the time of conversion, not including the land value.Since you're tearing down the existing structure, the entire amount of depreciation taken over the past two years will likely be recaptured, as the building's value at conversion will effectively be zero.The recaptured amount will be taxed as ordinary income, up to a maximum rate of 25% for residential rental property (Section 1250 property).

Here is a comprehensive guide to help out-of-town parents navigate the process effectively.1.

There are many ways to remove a tenant, but it requires knowing what motivates them.

Real estate investing can be an effective way to build long-term wealth, and among the various strategies, one has gained significant popularity over the years: BRRRR.

This is effectively legislation to open up the market to new prospects. 

It's hard enough trying to interpret the big picture, the less info they provide the less effective we are.Newbies; help us help you 

I've been informed that completing the course alone may not be sufficient to pass the exam, so I’m seeking advice on how to prepare effectively once I complete it.Currently, my only other resources include a YouTube video, five practice exams, and a textbook.If you have any additional suggestions—whether online or in-person, paid or free—that could help me effectively prepare for the exam, I would greatly appreciate them.

Can the new HB 182 law be used to eject the prior owners of a property that the bank foreclosed on and did not remove from the house after the foreclose?

By focusing on effective time management, clear communication, building your network, and implementing a solid marketing strategy, you’ll be better prepared to navigate the ups and downs of the real estate industry.