22 April 2024 | 6 replies
I posted a question in another category regarding this, also.
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22 April 2024 | 10 replies
This lists all income and expenses per category.
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22 April 2024 | 2 replies
No need to necessarily add value to the property with a rehab that can be a bonus if an opportunity presents itself.
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22 April 2024 | 0 replies
The three most common approaches include:Cost approach: An estimate of the replacement cost less depreciationIncome approach: Calculation of estimated potential rental incomeSales approach: Uses comps of recent transactions on similar propertiesBe sure you are leveraging the tax incentives availableIdentify any applicable tax incentives available for commercial properties - historic tax credits in certain areas, opportunity zones, environmental sustainability, etc.Understand available tax deductions, credits, and rebates - Tax deductions decrease the taxable value of a property, tax credits directly reduce your tax liability dollar for dollar and tax rebates are a refund of taxes paid under certain conditions.Utilize a cost segregation study - Cost segregation allows you to reclassify assets into categories with shorter useful lives, therefore accelerating depreciation and creating tax savings.Leverage energy incentives and deductions - Look into the Section 179D deduction and how you can save on tax by meeting certain standards to make your property more environmentally friendly.Best practices for commercial real estate owners and monitoring their property tax regulations:Plan proactivelyWork with a professional to receive guidance on complex regulationsUtilize specialized software tools to drive efficiency and compliance.What questions do you have regarding property tax valuations?
21 April 2024 | 3 replies
I will be house hacking my primary home and I am wondering that are the implications on Solar tax credit and bonus depreciation?
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21 April 2024 | 6 replies
Do I qualify to take advantage of bonus depreciation?
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22 April 2024 | 12 replies
If you don't have a VISA, U.S. bank account, credit, etc....then we will put you in the ITIN category and still obtain up to 75% LTV on the purchase.
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22 April 2024 | 39 replies
Some of the main variables in my projection models include: expenses (broken down into various categories like personal expenses, capex, debt service, vacancy, etc.), income, cashflow, debt, DTI, equity, property appreciation, rent appreciation, mortgage paydown & amortization, rate of net worth growth, cost of living increases, hours worked per week, cash on hand, etc, etc.
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24 April 2024 | 49 replies
Talk to a CPA, but there are things like capturing bonus appreciation.
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21 April 2024 | 8 replies
You need to pass "material participation" test and personal use test, but that's for your future tax professional to explain.Yes, bonus depreciation is possible, but only on the current value of the personal property and land improvements.