It allows a substantial portion of the asset's cost to be deducted in the first year of service.In 2023, the bonus depreciation rate is 80%.In 2024, it decreases to 60%.In 2025, the rate further reduces to 40%.COST SEGREGATION:Cost segregation involves dividing a property into its individual components for tax purposes.Some parts age faster, like carpets or paint.Your CPA can use this info to more accurately depreciate elements of your property leading to potential tax savings.BASIS:Your basis is the initial price that you paid for your property, including any expenses or improvements.Knowing your basis is crucial for tax purposes, as it's used to evaluate depreciation & determine the capital gains or losses if/when your property sells.LAND VALUE:This is how much your land is worth without any buildings or improvements.Land doesn't get old like buildings, so you can't depreciate it.

., size, egress windows, heating).Contact Cuyahoga County Records: Reach out to the Cuyahoga County Fiscal Office or the local assessor’s office.

Likely you will need to do electrical heat pumps given new building codes.

Along with the condo fees come the amenities (gym, pickleball, boat docks, tennis, putting green, heated pool, etc.).  

We have 240v, but being up in the NW it takes longer to heat up.

For instance, if three of my properties are generating significant cash flow and performing well, they can offset any issues that may arise with another property, such as a heating system failure.

Here's a https://www.irs.gov/businesses/cost-segregation-audit-technique-guide-chapter-4-principal-elements-of-a-quality-cost-segregation-study-and-report to the IRS website noting specific items that are included in the cost segregation study report.

I've been listening to BP for years now and just now getting involved in the community element.

And the fireplace can circulate heat on both the first and second stories.

And the fireplace can circulate heat on both the first and second stories.