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22 January 2025 | 8 replies
@Jacob HavlovickBigger 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.
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31 January 2025 | 7 replies
My CPA was unsure... do you issue 1090-NEC for the difference between 1099-K and 1099-MISC or do you double up the income (i.e. 1099-NEC for gross rents from PM, 1099-K of the net owner distribution on 1099-K, then owner reports double income and puts a line item expense for the 1099-K since 1099-MISC covers gross rents).You need a new accountant lolPM issues 1099-MISC, not NEC for rental income paid to property owners.You would still issue the rental income paid to the owners regardless of the payment method.The Property Owners should add an expense line item on Schedule C stating that income reported twice on Form 1099 to offset any duplicated amount.
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2 February 2025 | 10 replies
It's just going to cost you quite a bit of money to have your accountant prep all of them.
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25 January 2025 | 12 replies
@Rebecca GonaBigger Pockets is a great place to find a tax accountant that specializes in short-term rentals.
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3 February 2025 | 4 replies
You have to account for ALL expenses.Let's pretend you can rent it for $3,000.
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3 February 2025 | 5 replies
Assuming you sold the home at the end of 5 yearsYour NET ROI would be:0% appreciation: 10.93%1% appreciation: 12.13%2% appreciation: 13.33%3% appreciation: 14.53%This ROI calculation takes into account taxes, insurance, selling costs, repairs (calculated at $3500) through out the lease.
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30 January 2025 | 0 replies
.- Institutional Capital & Private Equity: By moving from hard money to institutional financing, you can secure larger credit lines with better terms.
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6 February 2025 | 2 replies
Short term (12 months), low loan to value with borrowers who have strong credit and significant assets.
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6 February 2025 | 17 replies
@Iris Olivas Most local banks/credit unions can do this deal with lower fees and potentially rates than brokers.
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4 January 2025 | 9 replies
Or how to put the unpaid rent on their credit score