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21 August 2024 | 18 replies
You will need to collect mail there and have your license note that address as well as living there to check that box.
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20 August 2024 | 14 replies
Your efforts are counted as one "individual," so both of you collectively need to meet these thresholds to qualify for material participation and potential tax benefits for your STR.
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20 August 2024 | 8 replies
Collectively between our personal residence mortgage and rental mortgage we are at a 50% LTV ratio.
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20 August 2024 | 50 replies
But, you can also collect for repairs, because those are also considered "permanent improvements."
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17 August 2024 | 2 replies
Since you're in Atlanta, you’ll need to file both federal and Georgia state corporate taxes.Deadlines:Federal: Typically due by April 15 (if your fiscal year ends in December).Georgia State: Usually aligns with the federal deadline.Penalties:Federal: Late filing can result in a 5% penalty per month on unpaid taxes, up to 25%.State: Georgia also charges penalties and interest for late filings and payments.Filing Options:Federal: You can file using the IRS e-file system or tax software like TurboTax Business.Georgia State: You can file online at the Georgia Department of Revenue’s website.If you’re pressed for time, file for an extension to avoid penalties!
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17 August 2024 | 13 replies
this is a toughie. hard money specifically is equity-driven, meaning they'll likely want 40%+ down to even entertain the deal. additionally, land without improvements is often very inexpensive (relative to land with improvements), usually pushing below a threshold which makes sense for a hard money lender. if you're not intending to build right away, then i think you'll have the best luck with private money instead of hard money. usually higher leverages than hard money, and more negotiable terms.if you are intending to build on it pretty right away, a ground-up construction loan could work, but those will typically require some ground-up construction experience (on title on other ground-up deals), or an extensive portfolio of heavy rehabs/ rentals/ strong liquidity. those will give you acquisition monies (to buy the land) and build monies (to build the improvements).
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18 August 2024 | 5 replies
If there is rot and its a more extensive of a job than merely replacing the window that will drive cost as well so you should seek a line item budget from the installers.
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18 August 2024 | 16 replies
It's a collection of the best flipping info from the site.See you around the site!
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20 August 2024 | 9 replies
This will result in the CRA collecting <=10% taxes on repatriation of retained earnings.Here is an overview on repatriation of investment income to Canada (from the U.S.A. in the example tables).
21 August 2024 | 182 replies
The $55 tax that is paid every year on a 15 year old car probably cost $40 to collect when you figure fully loaded overhead.