From a tax perspective, the LLC will be a pass-through entity (if a single-member LLC, it remains disregarded for tax purposes), meaning you can still report income on your personal return (Schedule E).

Here’s a breakdown of some of the information you may need to provide for a cost segregation study.For existing buildings:List of equipment on the propertyProperty settlement stateAny appraisals or purchase/lease agreements Property maps or blueprintsSchedules, change orders or documents for future renovation plansSupporting documents for calculating real property book valuePrevious purchase price allocations that separated assets into their appropriate allocation and valuePast site inspections and photographsDocumentation that proves or records deterioration of assetsFor new construction:Contracts or contract paymentsLand and property sizeBlueprints of projectList of equipment involved or purchasedList of projected costs including costs for land developmentApplicable site inspectionsConstruction schedules and payment requestsPhotographs of completed assets or work in progressCost segregation specialists typically have an organized plan for the collection and analysis of the information provided.

But here's the thing - the interest is SCHEDULED, but hasn't been CHARGED TO YOU YET.

You’ll each get a Schedule K-1 showing your share of the income.- You both report your share on your personal tax returns and pay taxes based on your own tax rates.3.

You also need a schedule of real estate meaning you have to have signed on these loans in the past. 

Tax-wise, rental income flows through to your personal return in either case, but transferring the title later could affect depreciation schedules and property tax assessments.

Method of choice was looking for potential properties online using redfin then when I had run simple numbers I would drive by each property and its neighborhood and if it was worth pursuing, I would schedule to see the property through the selling agent.

If you pay the $250 and they say it's all perfectly glued and installed schedule 80 then you're going to have confidence without worry.

Assets identified in this study include:Standard windows and doorsInterior ceilings and wallsBasic plumbing and electrical systemsBuilding structural elements and roofingBasic HVAC componentsWater heatersFire protectionThis 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.

We accepted a pre list offer of $236000.00 with us paying the closing and are scheduled to close mid March.