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11 July 2019 | 48 replies
If you decided to move into the house, it would constitute a change in use which would still trigger capital gains taxes so given your circumstances that is not a solution either.
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15 April 2019 | 9 replies
As to what constitutes "doing business" - each state has different rules.
10 August 2015 | 12 replies
#1 To be a good wholesaler in NYC you really need to understand the financials and what constitutes a good deal
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11 August 2023 | 15 replies
What constitutes ideal revenue between LTRs vs MTRs.
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17 November 2021 | 122 replies
Here is an excerpt from the instructions for Form 5695 (the form you would need to fill out to claim the tax credit) which pertains to included costs: No costs relating to a solar panel or other property installed as a roof (or portion thereof) will fail to qualify solely because the property constitutes a structural component of the structure on which it is installed.What it looks like that sentence is saying to me is: a roof that is built to be able to hold a solar array counts as a structural component, and therefore counts as a cost of the project.
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25 February 2021 | 13 replies
Specifically, it was unclear whether owning rental real estate would qualify as a trade or business for purposes of the new rule and therefore it was unclear whether your average investor would qualify for the exclusion.Today, as part of the finalized regulations on Sec 199A, there is a new safe harbor that can be used to determine what constitutes a trade or business for purposes of 199A.
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6 May 2018 | 27 replies
If it is another girl I am not sure if it still constitutes qualifying for the exclusion based off the house just being two small for a family of 6.
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22 November 2018 | 91 replies
.§1.446-1, General rule for methods of accounting(c)Permissible methods(1)In generalSubject to the provisions of paragraphs (a) and (b) of this section, a taxpayer may compute his taxable income under any of the following methods of accounting:(i)Cash receipts and disbursements methodGenerally, under the cash receipts and disbursements method in the computation of taxable income, all items which constitute gross income (whether in the form of cash, property, or services) are to be included for the taxable year in which actually or constructively received.
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26 February 2019 | 6 replies
Account ClosedThere is no hard and fast guidance on what constitutes regular and repeated with respect to flipping in an IRA.
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28 October 2019 | 88 replies
My attorney reached out to me in the middle of this related to something else and here is what he said - this does not constitute legal advice (my disclaimer, would also be his):If prior to the expiration of the inspection contingency you submit a written addendum/amendment to reduce the price, if the Seller rejects, you still have the ability to perform, so long as you the buyer meet the terms of the original purchase agreement.