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22 April 2024 | 0 replies
Finding a professional that understands how to help you minimize your tax liability while also remaining compliant can make a big difference.Let’s first start with the basics of understanding commercial property tax regulations.
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25 April 2024 | 9 replies
There is no regulation that mandates a set seasoning period.
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25 April 2024 | 93 replies
Not that regular rentals are getting any easier, but there is not a massive push to shut them down via regulations.
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25 April 2024 | 209 replies
Large and small builders depending on the states are already fighting other regulations, so this easies their bottom line even more.
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24 April 2024 | 13 replies
I don't think it's a condo as many have STR regulations and HOA issues.
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25 April 2024 | 14 replies
A lot of vacation towns will have houses zoned for commercial use, which will most likely protect you from any regulation issues if they want to say its a commercial use since you will already have the zoning for it.
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24 April 2024 | 27 replies
On the other hand, STRs present higher income potential, flexibility in pricing, and potential tax advantages, but require active management, adherence to regulations, and may entail unpredictable income.
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23 April 2024 | 6 replies
Accounting firms typically have nothing to do with this process unless somehow the title company subcontracted the preparation of the 8288 to them (which really isn’t necessary as it doesn’t require tax expertise, only familiarity with the FIRPTA procedures in general, which any title co who’s worked with a sale by a foreign person would likely know).This is indeed a weird situation and it definitely is unsupported by any authority in the code and regulations to send the withholding tax amount to an accounting firm acting as a middle man for the IRS unless they somehow expressly made an agreement to do so.Good luck with that
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23 April 2024 | 10 replies
If regulations in your market allow it, a combination of MTR/STR strategy often works since there can be a lot of similarities.
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24 April 2024 | 25 replies
There is one that is regulation single piece slate size for pickup.