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7 January 2025 | 4 replies
Very good point.In the case of Arizona, I have been unable to locate any state law / code that suggests Arizona may have additional regulations.
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7 January 2025 | 3 replies
Additionally, not all transaction types support Locations, meaning you'll have to create journal entries to correct them—requiring a solid understanding of debits and credits, which can be time-consuming and error-prone.Instead, I recommend biting the bullet and upgrading to QuickBooks Online Plus for each entity.
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6 January 2025 | 2 replies
I'm unsure if you would be able to combine both loans given that the HELOC is tied to a different property than the one you got traditional financing on.A work around is if you are able to purchase the new property with the HELOC at a significant enough discount, bring the property value up via renovations or additions, then refinance the property, pulling out enough money to repay the HELOC.
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8 January 2025 | 6 replies
In addition to other tax strategies like a cost segregation study on the fully rented out house.
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13 January 2025 | 31 replies
House hack until you have kids.
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3 January 2025 | 4 replies
There will likely be a partnership return required where you flipped a house with a partner and lost $120,000.If you sold the other property within the same partnership, it will also be reported on that partnership return.The net result to you is that you will receive a K-1 showing your income / loss which you then use to report on your individual return.If you made no money within the same year, you likely pay no additional taxes / get no additional refund.Best of luck.
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2 January 2025 | 2 replies
Outdoor storage, moving services, additional parking.
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8 January 2025 | 13 replies
Pay attention to the duration.DM me if you want additional thoughts.Jeff
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10 January 2025 | 14 replies
I'm an agent in addition to being an investor.
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10 January 2025 | 28 replies
In addition your 17 so I am assuming your still at home.