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13 December 2024 | 4 replies
Your development deal will look much like a flip in the eyes of the IRS since it is 6-9 months as well you'll have the short-term side of taxes, not the capital gains taxing on it.
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13 December 2024 | 9 replies
Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.
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14 December 2024 | 13 replies
would be interesting to hear how "bottom-of-the-barrel" these questions can get lol(I can also hop on the phone sometime and chat throw if you prefer and are open to that)Getting neighbor signatures could be fantastic!
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16 December 2024 | 35 replies
To debunk it, we're going straight to the source — the IRS.The IRS says to keep records for your business tax deductions indicating:What you boughtWhen you bought itHow much you spentAnd guess what?
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11 January 2025 | 420 replies
I will use my situation and interest rates as I do have a home loan and a HELOCLoan AMT $100kmortage ir = 4%HELOC ir = 5.5%Duration 3 yearsFirst Scenario:$100k mortgage 4% interest.
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12 December 2024 | 5 replies
Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.
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11 December 2024 | 7 replies
.: Hi All,Is there any way to structure a private lending arrangement so that income is considered passive (by IRS standards) and can offset accumulated schedule E losses?
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15 December 2024 | 12 replies
Either1) your startup takes off and you can distribute profit fast enough to pay off your debts, or2) you find another source of $100,000 a year (which barely even starts to pay down the $300k, but might provide a better chance for a better loan), or3) you BK and possibly lose the rental houses to creditors (hopefully not, but we don’t know how they are held), or 4) you sell the houses, take the tax hit, work with the IRS on a payment plan whose interest will be much lower than your CCs, and focus on the startup.
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11 December 2024 | 16 replies
For short-term rentals (STR), the IRS requires you to prorate NORMAL depreciation based on the time the property is available for rent, not when you purchased it.