
13 November 2024 | 2 replies
(Bonus points if you are from Canada too!)

13 November 2024 | 2 replies
Imagine you bought a property for $2M.The land (excluding any structures) is valued at $400K.Since land is not depreciable in the eyes of the IRS, we subtract the land value from your purchase price to get your depreciable basis.Your depreciable basis is simply where a cost seg engineer starts from when allocating your eligible assets into either 5, 7, or 15 year property.In the scenario above, your starting basis would be $1.6M since your basis = your purchase price - the land value.Having an accurate land value is essential to getting your depreciation/bonus depreciation calculations right.This is the starting point for any cost seg study that you do.

12 November 2024 | 4 replies
Neighborhoods on the shores of Lake Travis, in Round Rock and in Driftwood are among the hottest housing markets in the Austin area.

12 November 2024 | 4 replies
We will see if/when bonus depreciation goes back to 100%.

12 November 2024 | 7 replies
An uptick may be due to the decrease in bonus depreciation by 20% in the new year.

15 November 2024 | 17 replies
Transfer money between business and personal infrequently and in round numbers.- Once it looks like you are going to clear $50k for the year - after everything is deducted!

15 November 2024 | 10 replies
I pay them a very nice bonus at the end of the year, so realistically it's probably more like $35/hr, so my labor cost for the job would be around $7,000.

17 November 2024 | 5 replies
Well I knew I could subdivide or I knew the density bonus's applied etc etc.

14 November 2024 | 10 replies
Quote from @Melanie Baldridge: Newton's law of tax: What goes down must come up.Everyone enjoys the sweet benefits of bonus depreciation, but what happens when you sell?

14 November 2024 | 21 replies
I think that it is a bonus to have your own domain email, however, I think it is fine to have your name @gmail.com.