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16 February 2025 | 0 replies
My accountant's office called me the other day and let me know that I could amend my 2022 tax return and claim losses due to Hurricane Ian to a primary residence property and a investment property.
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20 February 2025 | 23 replies
A bit about my situation and motivation for getting into real estate investing...I have a full-time, high paying W2 job as a specialist physician that I generally enjoy but would like to be able to supplement my income over the next 8-10 years if/when payments decline in medicine.
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7 February 2025 | 14 replies
and we carry insurance to protect from those situations but unfortunately there are horror stories and tragedies that happen in medicine.
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18 February 2025 | 5 replies
There are two requirements to claim REP status1) 750 Hours2) You spend more time on real estate than other activities such as your W-2 Job or BusinessYou want to work with a tax professional who will be able to advise you on what hours count and what hours do not count.Furthermore, the CPA may have a nice worksheet that you can use to help you document your hours.Best of luck!
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19 February 2025 | 42 replies
Not only do they not repay funds, they claim we owe them additional funding for renovations that never actually happen.
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26 February 2025 | 12 replies
A judgment creditor from a lawsuit against your spouse cannot automatically claim your separate property, but any community assets could be at risk.
20 February 2025 | 5 replies
For all multi-family properties we always handle the lawn care as there are common areas so we can't expect the tenants to care for it.When sending the security deposit claim we state the additional cost that is owed for damages even if the entire security deposit is claimed for other damages.
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24 February 2025 | 3 replies
However, safe harbor is not required to claim QBI; you can still qualify under general trade or business principles.
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26 February 2025 | 12 replies
Since you claimed accelerated depreciation through cost segregation, a sale without a 1031 exchange would trigger recapture tax on the depreciation taken.
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14 February 2025 | 1 reply
We provided an itemized list of work done and the price while returning the security deposit.Tenant is claiming that everything was wear and tear and is demanding receipts and proof of damage.As per my knowledge landlord is not needed to provide receipts in Arizona.