
19 January 2025 | 9 replies
It would/could be only 15% capital gains tax and yes you could/would deduct all selling costs including commissions and transfer taxes.

21 January 2025 | 7 replies
Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

20 January 2025 | 11 replies
For your $240K new-build townhouse, a cost seg may make sense if the tax savings outweigh the study cost (~$3K–$6K), especially since you plan to hold it for 10+ years and can benefit from immediate bonus depreciation.For the $380K older townhouse, cost seg with look-back depreciation could provide significant one-time deductions for missed depreciation over the past six years.

13 January 2025 | 7 replies
Bigger Pockets is a great place to find a real estate tax accountant.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

14 January 2025 | 7 replies
Startup costs paid out of pocket should be recorded as capital contributions and may be deductible as startup expenses or amortized.

14 January 2025 | 1 reply
Just deduct security deposit and move on.

15 January 2025 | 5 replies
This also makes it eligible for bonus depreciation (60% in 2024) or Section 179 deductions if criteria are met.However, if the RV is permanently affixed to the campground site and functions as part of the real estate, it may fall under residential property classification and depreciate over 27.5 years.

15 January 2025 | 6 replies
I have landlord insurance with deductible $2500. the house has continuous flooring, meaning the entire house has same LVP.

3 January 2025 | 11 replies
I can deduct the interest, but it gets added it B and C vs A?

10 January 2025 | 16 replies
But, if you’re traveling to check out a property you already own, that could be deductible.