Troy Smith
CPA tax advice.
9 January 2025 | 11 replies
Depending on how you use the property, you may benefit from a cost segregation study and bonus depreciation once the property is in service.
Shakthi Kamal
Is a min of 2% rent to price ratio needed for positive cashflow in today's market?
6 January 2025 | 2 replies
In playing with the numbers a bit, I'm seeing a trend of atleast 2% rent to price and (ideally) < 7% mortgage rate needed to achieve a decent cash on cash rate.
Melanie Baldridge
My opinion: 401K VS RE
25 December 2024 | 4 replies
The ability to do cost segregation and bonus depreciation3.
Melanie Baldridge
Did you know this about Gas Stations?
14 January 2025 | 2 replies
The tax advantages of buying/holding gas stations are pretty great.Many of the components of gas stations including pumps, tanks, external parking areas, and other equipment are classified as either 5 or 15 year property so you can bonus depreciate a lot of it (minus the land value) and get significant deductions in year 1.With the 2025 bonus depreciation rate at 40%, a $1 million gas station acquisition could still lead to $100K+ in year 1 deductions depending on the specifics of your deal.
Nicholas Haubner
4-family to 5-family with owner occupied unit
4 January 2025 | 5 replies
If I were you keeping the property as 4 units and renting out bonus unit under the radar may be your best option especially if you plan to refi or do HELOC while occupying.
Cherie Carr
Track Driving for Dollars?
10 January 2025 | 2 replies
I really would like an app or site that allows you to compile a list of properties with notes on the spot, and bonus points if it pulls up any info on the property as well.
Karen Guzik
Is it ok to use the lease agreement that comes with the book bonus?
6 January 2025 | 0 replies
Just want to make sure it's ok to use the lease agreement since it says all rights reserved to bigger pockets. TIA
Steven Hsu
CPA in Dallas, TX
3 January 2025 | 5 replies
@Steven HsuBigger Pockets is a great place to find a real estate tax accountant.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.
Julio Gonzalez
Asset Classifications for Cost Segregation
7 January 2025 | 6 replies
Window AC units can indeed be treated as tangible personal property with a 5-yr life and be bonus-depreciated or deducted under Section 179.
Todd David Crouch
Self Employed or W2??
12 January 2025 | 4 replies
Bonus, Overtime, and Commission income all typically need a 2 year average either at the same job or in the same line of work.