Additionally, cost segregation and bonus depreciation can accelerate tax benefits.Because filing as single taxpayers limits certain deductions, planning in advance ensures you maximize benefits while avoiding complications.

Since the rent roll was too low, she had to secure financing through a private lender that based the loan on market rent rather than the current rent.

Yes, as S-Corp owners receiving W-2 wages, employee deferrals to a Solo 401(k) are subject to FICA taxes (Social Security & Medicare).

Quote from @Chris Shon:We started an LLC last year and are about to file our first return for 2024.

But if you can secure one with solid terms, it could be a great way to access capital while keeping the rental.If you believe in 28277’s continued appreciation (and I do), I’d lean towards holding the rental, increasing rents through strategic upgrades, and leveraging equity via a HELOC or cash-out refinance if the terms make sense.

The tenant was seeking $14k for security deposit and furniture that was left in the property.

Since the BK must be disclosed in any securities offering, you would not be able to be a partner in a syndicator/sponsor type deal9.

A friend and I created one recently:https://drive.google.com/file/...It was meant to compare costs between different lenders, but you can use it to just see costs from one lender as well.

Buyers and investors who position themselves early will have the advantage over those waiting on the sidelines.For those looking to secure financing or explore investment opportunities, now is the time to build relationships, line up funding sources, and identify target properties before competition increases

You have to complete Schedule E if you have rentals.You should check if the turbo tax premier version allows the filing of Schedule E.With that said, using a software like Turbo Tax will assume you to understand what is deductible.If you work with a tax professional, you are more likely to have an accurate return.