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Results (4,427+)
Laura Kreinbring Tax Advice, long-time tax platform user depreciation basis adjustment
14 May 2024 | 10 replies
You must generally file Form 3115, Application for Change in Accounting Method, to request a change in your method of accounting for depreciation.The following are examples of a change in method of accounting for depreciation.A change from an impermissible method of determining depreciation for depreciable property if the impermissible method was used in two or more consecutively filed tax returns.A change in the treatment of an asset from nondepreciable to depreciable or vice versa.A change in the depreciation method, period of recovery, or convention of a depreciable asset.A change from not claiming to claiming the special depreciation allowance if you did not make the election to not claim any special allowance.A change from claiming a 50% special depreciation allowance to claiming a 100% special depreciation allowance for qualified property acquired and placed in service by you after September 27, 2017 (if you did not make the election under section 168(k)(10) to claim a 50% special depreciation allowance).Changes in depreciation that are not a change in method of accounting (and may only be made on an amended return) include the following.An adjustment in the useful life of a depreciable asset for which depreciation is determined under section 167.A change in use of an asset in the hands of the same taxpayer.Making a late depreciation election or revoking a timely valid depreciation election (including the election not to deduct the special depreciation allowance).
Douglas Gratz What is the new construction process? Dig lot, pour concrete, etc
14 May 2024 | 201 replies
They are extremely difficult for advanced athletes and all have deadly consequences for mistakes. 
Gabe Morrell Is Now a Bad Time to Start Out?
10 May 2024 | 19 replies
I as a REI was a contrarian. 2010,11,12 it was about a false bottom, false recovery, and that the dollar was about to go to $0, a W recovery, and the country falling apart and that one should be prepping, buying food packs NOT doing REI.     
Jonathan Greene Have you hit your investing goals so far in 2024? Why or why not? Let's talk about it
9 May 2024 | 25 replies
I am usually close to budget but this one is way over (tens of thousands, probably $40k over) and is not a flip and not being refinanced (due to where rates are versus my ~3% current rate) so the recovery has to be slow over the hold.  
Jimmy Humphrey Over Leveraged?
10 May 2024 | 116 replies
I went through the 90s where 10-15% returns were easy to come by and through the major losses in 2001& 2008, then the no growth years and now the slow recovery.
Collin Hays Smokies State of the Union
8 May 2024 | 33 replies
All the while being passive investors which professionals and athletes require.
Olu Efunwoye Cap rates in determining MF property value
6 May 2024 | 6 replies
A 200lb professional athlete is going to be more fit than an 200lb desk worker that eats fast food every meal. 
Victoria E. Past due debt for rent an damages
5 May 2024 | 6 replies
Take a look at collection agencies like Phoenix Recovery and others.
Bryce Fairburn Investing in St. Thomas USVI
5 May 2024 | 9 replies
.- the topics I search on BP appear to all be pre/mid covid, and have some recovery discussions post Irma.
Josh Mitchell Experienced Agent, Inexperienced Investor
4 May 2024 | 9 replies
It's not all rainbows & unicorns, but the city has turned the corner on recovery and those that get in now, in the right areas, should ride a solid recovery wave to wealth.Now that we've covered that, read our standard copy & paste advice about rental investing below:)Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.