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11 November 2024 | 2 replies
Specifically in SC, though, I would check two things - 1) see if the ATI exemption applies and actually quote the taxes for that particular property on the county tax estimator tool, and 2) get a ballpark quote from your insurance partner on the particular property.
13 November 2024 | 5 replies
I would take a copy of the plat map or GIS tax map with property id and sit down with them.
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4 November 2024 | 1 reply
Historical data shows housing prices have averaged 4.84% growth during election years since 1987, but the specific policies of each candidate could significantly influence future market dynamics.Vice President Harris will likely focus on supply-side solutions, representing a continuation of Biden administration policies, emphasizes affordable housing expansion through several key initiatives:1.
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13 November 2024 | 10 replies
While the IRS does not mandate a physical site visit, the IRS cost segregation audit technique guide (ATG) does suggest conducting “field inspections.”It’s important to note that the ATG is not an official IRS document.It serves as a guide and cannot be used, cited, or relied upon as an authoritative source.However, the recommendations in the ATG are worth considering.According to the guide: “A field inspection is recommended to document the physical details of the building, type of construction, materials used for construction, the assets contained in the building, the size and types of building systems, and any land improvements that were included in the purchase of the property and the condition of that property at the time of purchase.”So while the IRS does not require a site visit for cost segregation studies, following the guidance from the cost segregation audit technique guide can be beneficial.There's this thing called Hierarchy of Tax Authority that CPAs and Tax Attorney's reference.Let's not get too carried away with comments like, It serves as a guide and cannot be used, cited, or relied upon as an authoritative source....
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12 November 2024 | 17 replies
Tax ConsiderationsSTR income is taxed higher than LTR, but deductible expenses (e.g., repairs, furnishings) can offset this.
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12 November 2024 | 10 replies
Is $300 per month net post tax cash flow considered decent?
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12 November 2024 | 0 replies
Low income neighborhood; save on taxes How did you find this deal and how did you negotiate it?
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12 November 2024 | 4 replies
https://www.biggerpockets.com/forums/51-tax-legal-issues-con...
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11 November 2024 | 6 replies
@Brody VeilleuxYes you can absolutely still get tax benefits!
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13 November 2024 | 8 replies
If he get's 500k cash, he's paying 50k in taxes at close.