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8 April 2024 | 8 replies
Larger investors (20+ rentals, multiple partnerships, starting syndications, foreign income) can definitely benefit from larger CPA firms with a higher price tag.
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10 April 2024 | 11 replies
@Jon Kim, I'm reading up on the bonus depreciation as we speak, but I'll refrain from giving any advice as I'm not a CPA.
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10 April 2024 | 4 replies
Talk to a CPA for sure.
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9 April 2024 | 10 replies
this is what my cpa said, "Your income above the limit which is less than 150K in order to take rental losses which again are limited" In your case, you are carrying forward the losses towards 2023 taxes as shown on page 5/95 of the return and as far as the income limit form 8582 page 83/95 has a detailed breakdown for you
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9 April 2024 | 7 replies
Check with your CPA.
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9 April 2024 | 3 replies
In addition, I would discuss what your thinking and what your attorneys advise with your CPA to make sure you have a complete picture of everything involved and how it will effect your bottom line.
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9 April 2024 | 3 replies
Maybe a CPA can confirm.
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9 April 2024 | 11 replies
Not a CPA but typically start paying taxes once your basis is reached.
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8 April 2024 | 1 reply
I have seen local CPA's claim they can help offset high W2's with short term rentals here in LA.
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8 April 2024 | 6 replies
The longer it was rented out can’t hurt either since it’s supposed to be an exchange of one investment property for another investment property Your probably going to need a 1031 expert like @Dave Foster or a CPA to weigh in if you don’t have one.