Bruce M.
Large RV or Boat - Tax incentives, Tax strategies
13 January 2025 | 7 replies
I could perhaps use Section 179 for the solar overall, as solar would be necessary, although not ordinary to conduct R & D.
Garrett Brown
This ONE Change Can Boost Your Airbnb Ranking
24 January 2025 | 25 replies
For example, one client in Chicago wasn’t getting traction until we updated their listing with a twilight shot of their patio featuring string lights and a fire pit.
Wiley Hood
Are DIY cost segregations a good idea?
12 January 2025 | 28 replies
Remember, if you decide to sell in a few years, any bonus depreciation comes back as ordinary income.
Angus Brooks
Tax Implications for Refinancing a Property in an LLC and Distributing Funds
16 January 2025 | 12 replies
It can potentially be deductible as an ordinary or rental expense, an itemized deduction or simply non-deductible.
Seidy Lasker
Wash Sale Rules for Options
2 January 2025 | 1 reply
Day traders are not exempt unless they elect mark-to-market (MTM) accounting, which eliminates wash sale tracking but taxes gains as ordinary income.To manage taxes, track trades closely, avoid overlapping purchases, or consider MTM election if trading actively.
James R.
I really dislike Airbnb. Anyone else?
26 January 2025 | 21 replies
In 2022, we had guests with dogs that scratched the floors (repeated scratching of the floor that they do, when they want to go outside) in front of the patio doors.
Carolina Solorzano
Anyone investing in STR in Niagara Falls?
14 January 2025 | 17 replies
Pics show like it's just an ordinary house - well taken care of like 731 Pine Ave.
Isadore Nelson
Help Non-Paying Tenant Transition Into Section 8 Eligibility?
3 January 2025 | 14 replies
The Landlord will verify that the rental is empty of all personal belongings and trash and that there is no damage beyond ordinary wear and tear.
Paloma Wodehouse
High Priced First Buy
8 January 2025 | 9 replies
Be mindful of short-term capital gains tax, as profits from flips held for less than a year are taxed as ordinary income, and frequent flipping may result in self-employment taxes.While profits from flips do not qualify for 1031 exchanges (since flips are considered inventory, not investment properties), you can minimize your tax burden by deducting allowable expenses like renovation costs, loan interest, and holding expenses.If you're considering diversifying into rentals, explore opportunities to benefit from long-term tax advantages such as depreciation and lower long-term capital gains rates.
Phillip Austin
Nightmare Tenant - This is why you need a property manager!
24 December 2024 | 7 replies
Both screen doors upstairs do not function correctly.Plumbing problems-The garbage disposal in the kitchen was not cleaned, is smelly and the rubber is flipped outwards.The bathroom sink in the smaller bedroom does not drain correctly despite us using an entire bottle of drain cleaner on it.Common areas that are not kept clean or have garbage-There was no attempt to clear the patio of years of accumulated debris and filth.