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21 May 2024 | 58 replies
The material is interesting, there is no upsell, and you do get a fancy certificate by email.
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21 May 2024 | 138 replies
@Bernard Reisz To clarify on your comment regarding rental property ownership and income not qualifying for a Solo 401k, is this the case even if you qualify for "material participation" in your properties?
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21 May 2024 | 41 replies
Your mortgage payments may be fixed, but your taxes and utilities will increase, your maintenance material costs and labor rates for repairs have gone up, and your property is wearing out (appliances, flooring, water heaters, furnaces, roof, etc. all have a lifespan and will eventually need replaced).
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19 May 2024 | 11 replies
If you have given the contracdtor a deposit and that deposit has been used to purchase materials, & those materials are in your property I would;1.
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19 May 2024 | 25 replies
I am no CPA (and you should consult with one) but how do you plan to meet the IRS material participation rule with a $400K W2 job.
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21 May 2024 | 33 replies
As an example, we were doing a charity project for a home owner that costs us $30 in materials but $210 in licensing and permits.
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16 May 2024 | 22 replies
I did a simple Google search.Read this:What Is Material Participation?
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16 May 2024 | 4 replies
As my avg rental period is <8 days, and I have <14 days personal use at the property and believe I can meet the material participation test, this should be a non-passive activity.Specific Questions on Material Participation:1) Do hours logged for material participation in 2022 include time prior to placing the property in service (i.e. first half of 2022)?
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19 May 2024 | 20 replies
That is fine as a start, but only as a start.I emailed one of these companies to point out that none of their Youtube material cover the sale of our properties.
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18 May 2024 | 6 replies
If you own the land outright, you can get a construction loan for labor and materials.