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28 August 2024 | 22 replies
Given the complexity and potential tax-saving opportunities in real estate, it's wise to consider hiring a CPA with expertise in this field.Many clients who work with non-specialists find that their non-real estate preparers lack the specific knowledge to help them minimize taxes through strategies like depreciation, the de minimis safe harbor, partial asset dispositions, 1031 exchanges, navigating real estate professional status, the short-term rental loophole, and more.If you are looking to qualify as a real estate professional, use the short-term rental strategy, or complete a 1031 exchange, I would without a doubt recommend working with a real estate CPA.
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29 August 2024 | 5 replies
As Trustee your dad has a fiduciary duty to all the beneficiaries and has to look out for their best interests.I think both of you might want to get some professional advice about your particular situation before moving forward.
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28 August 2024 | 5 replies
Even then some things don't always fit and you have to come up with a work around.Hire a separate landscaper to finish it all up for better curb appeal**all in all was very happy with outcome & quality** Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
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28 August 2024 | 3 replies
For people in the Brooklyn area, do you have any cement/concrete professional that you'd recommend?
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28 August 2024 | 1 reply
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
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28 August 2024 | 11 replies
It’s advisable to consult with a tax professional or real estate attorney to ensure the arrangement meets both your needs and complies with tax laws.In a seller financing deal, once you start making payments, any equity you build in the property does indeed go to you, not the seller.
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28 August 2024 | 5 replies
I don't want to say I have knowledge like a professional but I have been learning about real estate for two years now and was considering getting my license I had taken those courses but some things happened and I ended up not getting it right now I want to start with wholesaling real estate for other personal reasons to get a head start on experience.
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29 August 2024 | 13 replies
If your income isn't in a certain range or if you're not a real estate professional (amongst other items) the cost segregation might not be beneficial.
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30 August 2024 | 17 replies
Yes, property managers you can goggle and do your homework and interview to see who you want to professionally want to work with for all of your real estate needs.
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28 August 2024 | 4 replies
Talks about the changes happening in Italy, including a 26% tax on non professionally run STRs.