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28 August 2024 | 22 replies
Given the complexity and potential tax-saving opportunities in real estate, it's wise to consider hiring a CPA with expertise in this field.Many clients who work with non-specialists find that their non-real estate preparers lack the specific knowledge to help them minimize taxes through strategies like depreciation, the de minimis safe harbor, partial asset dispositions, 1031 exchanges, navigating real estate professional status, the short-term rental loophole, and more.If you are looking to qualify as a real estate professional, use the short-term rental strategy, or complete a 1031 exchange, I would without a doubt recommend working with a real estate CPA.
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28 August 2024 | 4 replies
All in One is great and probably the best for a highly qualified borrower.
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24 August 2024 | 4 replies
About 90% of the time they fail to meet HUD guidelines.HUD guidelines require that to qualify as an Emotional Support Animal, the prospective resident must have a letter from a licensed health professional, licensed in your state, in which the health professional acknowledges they have a relationship with the client that was more than just one session.
27 August 2024 | 4 replies
If you are not planning on living there too, you would only be able to offer a gift to that person and you would likely not qualify as an eligible gift donor unless you are closely blood related.
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27 August 2024 | 10 replies
@Hardy Davis As long as you've lived in the property for two out of the previous five years, you could qualify for the 121 exclusion.
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28 August 2024 | 3 replies
You must use the services of an unrelated 3rd party called the qualified intermediary.
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28 August 2024 | 1 reply
They should also educate sellers’ brokers on their fiduciary duty to their sellers to vet buyers who don’t want representation and show houses to the qualified ones.
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29 August 2024 | 2 replies
And this is from a broker often representing a very well qualified and interested buyer of their property.
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28 August 2024 | 4 replies
Find a qualified agent willing to work only on a flat fee to write up the contract and other legal requirements.
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27 August 2024 | 0 replies
Bonus Depreciation Under current tax law, 100% bonus depreciation is available for qualifying property—whether new or used—acquired after September 27, 2017.