
24 September 2024 | 2 replies
The way the SEPP works is that you take the current account value and set a schedule of withdrawals to drain the account over a set period of time.If you find a way to make the numbers work, you might want to setup a specific and separate IRA for that purpose.

27 September 2024 | 13 replies
Maybe put some of that into a money market account or the stock market, so if an HVAC does go out in 2 months you can pull out $4-8k to replace it (depending on size, location, etc).

24 September 2024 | 17 replies
It's great for separating accounts.

27 September 2024 | 11 replies
You are simply just going to be paying your accountant to file 3 tax files for 1 property.

27 September 2024 | 66 replies
Also, in my view, FWIW, the savings account, for high income earners, is just not great.

24 September 2024 | 1 reply
Since you are an active service member the IRS will allow you to have lived in the property for two out of the previous ten years of owning it. you'd just want to verify with your accountant that you qualify for these extensions.Since you converted the property to investment, you may also take advantage of doing a 1031 exchange when you sell.

25 September 2024 | 17 replies
Make minimum payments on your student loans, put the rest in to a savings account.

24 September 2024 | 0 replies
Assets identified in this study include:Building systems: water heater, electrical distribution, HVAC, plumbinPermanent Fixtures: windows, doors, bathroom fixturesStructural Components: Roof construction, drywall, wood framingInterior Construction: Wood flooring, stairs, ceramic tileThis engineering-based cost segregation study included the following methodology:Physical Inspection through a site visitDocumentation review including architectural plans, accounting records and construction documentsA cost analysis which utilizes engineering principles in order to allocate costs to their applicable asset classificationsCalculation of the depreciation schedule using MACRSAs a reminder, bonus depreciation started to phase out in 2023.

24 September 2024 | 5 replies
They create the team and a plan, acquire, due diligence, take care of loan products (If needed), oversee construction/renovation, hire property manager (or run in house management,) take care of accounting/taxes/K1s, deal with closing or refinancing.An LP (limited partner) just puts in the funds (after hopefully vetting the GP and team) and keeps fingers crossed while earning mailbox money.

19 September 2024 | 3 replies
Hello everyoneJust signed up to pro account.