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19 February 2025 | 6 replies
Any tax knowledge of if people doing this strategy are able to take the losses from the cost seg study (on the ADU) to offset their W2 income?
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29 January 2025 | 10 replies
Quote from @Fred Scott: Sunrise Capital Investors - Mobile Home Park Investment FundI've seen a few posts about them here but none of them actually talks about what the actual annual returns have been.They are advertising heavily for passive tax deductions which is fine but what are the actual returns over a period of (say) five or ten years?
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16 February 2025 | 7 replies
With you being qualified for an FHA loan on your next home that you're purchasing, will you be using the rental income from your departing residence to offset the mortgage payment on that property?
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21 February 2025 | 10 replies
@Nate WilliamsWith one income, two kids, and limited cash flow, minimizing risk is key.
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14 February 2025 | 8 replies
A FICO score requirement of 650 or higher, along with at least three years of consistent income that's 3X the monthly rent, are also a good ideas.
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12 February 2025 | 12 replies
You will report worldwide income on your federal and Kansas tax returns.You will also include the MO activity on your KS return.Your MO return will only include the acitivity within that state, which in this case, is the rental property.In the future, if you have income in MO(either through the sale of the property or through rental income), you will pay tax to MO but KS will give you a credit for any taxes you pay to MO.best of luck
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7 February 2025 | 5 replies
Based on 27.5 yr straight line depreciation, that's about $1,700 of missed annual depreciation; $25,000 over 15 years - and at an ordinary tax rate of say 30% tax could amount to $7,500 off my current tax bill.
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17 February 2025 | 5 replies
Sadly, the "home office" deduction is one of the IRS pet peeves meaning that you are more likely to be audited for this deduction when it is on your personal income tax return.
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23 February 2025 | 8 replies
I've met some very highly specialized experts in low income tax credits, corporate accounting and tax, as well as tax resolution.
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20 February 2025 | 114 replies
This post is the high income earner's equivalent of "I went from 0 to 60 doors in 18 months!!"