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15 January 2025 | 5 replies
Hi! I have a short term rental property. It's a 5th wheel located at a campground. It does not get moved. Will the RV be depreciated at 5 years or 27.5 years? I am unable to find anything giving me a for sure answer. ...
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28 January 2025 | 6 replies
Intangible assets like goodwill or tangible personal property (e.g., equipment) are excluded from 1031 treatment and are taxed separately—goodwill is typically taxed as a capital gain, while equipment may be subject to depreciation recapture taxed as ordinary income.To minimize taxes on the sale of the business, consider strategies such as Opportunity Zone investments, which defer gains until 2026 if proceeds are reinvested in a Qualified Opportunity Fund (QOF), or structuring the sale as an installment agreement to spread taxable income over multiple years.
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16 January 2025 | 7 replies
@David R Pustelnik recommend you first focus on raising the rent for the first time in 10 years.By the way, how much have your property taxes and home insurance gone up since this tenant moved in?
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19 January 2025 | 147 replies
“I’m literally the nation’s leading expert in tax liens and tax deeds,” he boasts in one installment.
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2 February 2025 | 10 replies
Forming an LLC for your rental property can offer liability protection, but no real tax benefit.
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5 February 2025 | 15 replies
Not likely.Maybe some of the tenant acquired their own washers and are using them for cleaning but your dryer for drying.Get a security camera and mount it in the area and post signs saying the same.
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30 January 2025 | 10 replies
Approximately 6-8 weeks ago my attorney stated he was unable to get the delinquent tax 'owner' nor the squatters served in this matter.
17 January 2025 | 2 replies
We were not able to recover any yard damages due to other damages they had left that needed repair, which empted out their security deposit.
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27 January 2025 | 6 replies
Consult your local CPA to calculate accurately and minimize your tax liability.