Andy S.
Service/ESA Animal in New Jersey
9 February 2024 | 18 replies
Some cities and states have “Breed-Specific Legislation” which makes it legal to exclude certain species or breeds of animals.
Joel Oh
Write off luxury car under STRs?
7 February 2024 | 34 replies
Your tax advisor is spot on—writing off a luxury car for your short-term rental (STR) demands solid proof of business usage; slapping a logo on the side won't cut it.The IRS lays down strict guidelines: the car must be regularly and exclusively used for business, excluding occasional STR trips or grocery runs.
Soroush Akbarzadeh
Cost segregation for STR with a business partner (50/50) - material participation
7 February 2024 | 7 replies
- assuming 500hrs each, we have spent enough time this year to get to that but wondering if thats a red flag for IRS with high chance of getting audited (we travelled 7 times over the past year to work on the unit and spend at least a week each time excluding the time we spent managing the guests)- Lastly, our understanding is that each can take 50% of the final offset to our W2 assuming we prove material participation eligibility.
Rob Beardsley
How do you calculate annualized return with refinance?
7 February 2024 | 5 replies
Many sponsors will model a five and ten year exit, excluding the refinance (even if the intent is to refinance).
Emil Pinlac
Please Advise: ADU Cost Components Breakdown?
8 February 2024 | 30 replies
, etc. but we're able to get & pass through some discounts at our volume.Re: garages, @Whitney Hill is on the mark again - roughly $90K (includes construction & design and excludes permit costs) is reasonable.
Jacob Allen
Accountant Recommendation for the Upstate - Greenville, SC
7 February 2024 | 13 replies
Payments that you make normally fall into one of 3 buckets100% of the payment can be factored in somewhere on the returnPartial payment can be factored somewhere on the return0% of the payment can be factored in somewhere on the returnHouse-hacking also has considerable tax implications in the event that you want to sell this property.You can potentially defer a portion or all of the gain on the investment property with 1031 exclusion.You can potentially exclude a portion or all of the gain on the personal residence with section 121 exclusion
Caroline Gerardo
Peer Street Bankruptcy
7 February 2024 | 13 replies
In fact, I read, “... excluded from the sale were previously originated, loans and loan servicing operations.”
Mike Johnson
Seeing if we can afford a million dollar vacation rental property
6 February 2024 | 3 replies
The months of May and September do rent out but unsure if they would be at 100% occupancy (so want to exclude them from any calculation).Its hard to gauge what weekly rentals would be without a having a home but weekly estimate would be for the exact home but my estimates are:$3k - Conservative, $5k - Moderate, $7k - liberal (July and August), the month of June is probably a 25% reduction.
Stuart Udis
Loan to Cost – Not All Lenders calculate equally
6 February 2024 | 3 replies
By way of example, a lender who excludes settlement costs and requires the borrower to fund the interest reserve is vastly different than a lender who includes the settlement costs and an interest reserve that’s capitalized in the loan.
Amy Gonzalez
Investing in Mexico
6 February 2024 | 14 replies
Is really more an observation about the whole country not specifically bout investing, Mexico is a very corrupt country and I don`t believe real estate investing is excluded from that corruption.