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13 January 2025 | 16 replies
.: The applicant needs a social security number or an individual tax ID number (ITIN).
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12 January 2025 | 8 replies
It's essential to do your due diligence and perhaps consider investing in more established or upcoming neighborhoods.Property Taxes: New Mexico's property taxes are relatively low in comparison to other states.
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30 December 2024 | 6 replies
Baselane has the added advantage of synching with your Schedule E you'll use at tax time to file your taxes.
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11 January 2025 | 7 replies
The 1031 exchange will indefinitely defer all tax on profit and all depreciation recapture.
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15 January 2025 | 15 replies
This is an example of private lending which is different than the IRA owning real estate and does not trigger UDFI/UBIT tax.
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31 December 2024 | 12 replies
So, when Trump changes to no tax on tips I feel inclined to change my rental income structure.50% reduction in rent.Previous 50% made up from a mandatory nontaxable tip.
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6 January 2025 | 3 replies
New tenant must go through complete vetting, sign the lease, pay security deposit and rent, and move in, prior to the referring tenant getting their $100.
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4 January 2025 | 11 replies
Ok, if it's still sounding do-able, the next issue is that section 179 can't be used to create a business loss, so it would only reduce your taxes for the year if your rentals are operating as a taxable gain (but rentals are often at a tax loss thanks to depreciation).
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11 January 2025 | 7 replies
My tax professional is stating that I would need an appraisal to show the lot/structure are valued at $400k if I try to claim $200k as a donation.
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13 January 2025 | 5 replies
If you provide any kind of substantial services like catering, car service, etc you will change you tax situation and no longer can file under Schedule E.