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1 November 2024 | 0 replies
Section 179 of the Internal Revenue Code allows businesses to deduct the full purchase price of qualifying equipment and software up to an annual limit.In 2024, for example, taxpayers can expense up to $1,220,000 of qualified assets.This election can apply to many types of tangible personal property, such as machinery, equipment, and off-the-shelf software, which are used predominantly in your business.Limits on Section 179 ExpensingAs attractive as Section 179 may seem, there are limits.For tax year 2024, the maximum investment limit is set at $3,050,000.If your business places more than this amount in service, the amount you can expense is reduced dollar-for-dollar over this threshold.In addition to the dollar and investment limits, the amount of your Section 179 deduction cannot exceed your taxable business income for the year.This means that even if your business invests heavily in qualified property, the deduction could be limited by the business’s profitability.Also, not all property qualifies for Section 179.Real property, like buildings and structural components, generally does not qualify unless it is "qualified improvement property."
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4 November 2024 | 12 replies
Just type "LLC asset protection insurance" in this forum's search box, and you will see dozens of threads on this topic.
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31 October 2024 | 12 replies
A challenge we’re all facing is balancing profitability with the higher cost of borrowing.What type of loan programs are you offering right now, and how flexible are you with structuring deals that involve short-term flips or long-term buy-and-hold strategies?
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2 November 2024 | 22 replies
Just typing this up made me think maybe we can sell them the entire business.
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31 October 2024 | 5 replies
This is the same type of pitch other gurus are using.
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2 November 2024 | 8 replies
Is that standard practice to have to do this, or am I missing a trick or a different loan type similar to a HELOC?
2 November 2024 | 8 replies
If the tenant makes sense, the rent is there, and it all works for the particular property, I'll go with S8.But I'm not the type to turn down a well qualified cash paying tenant simply because I only want S8.
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1 November 2024 | 2 replies
It took 9 months from front to back with was too much time, but the wait was worth it.What made you interested in investing in this type of deal?
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30 October 2024 | 15 replies
I'm assuming it will be a DCSR type loan.
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31 October 2024 | 0 replies
What made you interested in investing in this type of deal?