I would not buy a new vehicle just to get a write off - Only if you planned to get a new car anyway(I.E. if your old car is worn out).A lot of people are focused on deducitons but not focused on the income coming in / out.Best of luck!

We have been a quality fencing company for 5 years part-time, and just announced this year we are going full-time with it. Looking to learn anything and everything about the commercial world to hopefully one day be ab...

Really your reply is the kind of thing that has made Bigger Pockets so valuable for people like me with more limited access to a broad range of more experienced professionals.

I'm going off the understanding that you still need to spend 500+ hours in the business to achieve material participation (please correct me if I'm wrong). 

Airbnb hosts have the ability to make a difference. Airbnb.org, the nonprofit arm of airbnb.com, offers hosts options to assist with emergency housing in times of crisis, such as the 2025 Los Angeles wildfires. Hosts ...

I will be able to log the 50% time of business use.

In the latter case, I would still use QB to enter info provided by the 3P servicer and to maintain my general ledger for the lending business.

Quote from @Francisco Solano: I suggest you ask a business attorney in your state for this basic template.

I am looking to purchase a residential or commercial multi family in the Sherman/Dennison TX area. I am also open to partnering on a transaction.  Can anyone suggest and agent or property manager that can help me with...

Business loans typically won't let you purchase a property if you read the fine print.