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12 February 2025 | 2 replies
Thanks I am not a CPA or tax expert.
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17 January 2025 | 1 reply
And must be pretty significant unreported income if it would have caused $45k in state tax liability.You advised your client to wait past the expiration of state statute.
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18 February 2025 | 7 replies
Once you close on your property:- You need to get a Phila tax IDhttps://www.phila.gov/services/payments-assistance-taxes/tax...- Then you need to register for a commercial activity licensehttps://www.phila.gov/services/permits-violations-licenses/g...- Once you have a commerical activity license you can finally get your rental licensehttps://www.phila.gov/services/permits-violations-licenses/g...All of the above will be done using the eClipse online portal systemIf your property is built before 1978:The system will kick back your application and you will not be able to get a rental license until you get a Lead Safe test.This is when you will hire a licensed 3rd party to come out and doing a lead test for you.
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31 January 2025 | 2 replies
Thankfully, we caught it during the plan review stage, and with a stamped structural design, they got the kitchen of their dreams—without jeopardizing safety or facing surprise delays.Here’s what to think about when renovating:Structural Changes: Even moving a wall can have ripple effects on the stability of your home.HVAC Systems: New layouts might need adjusted airflow or ductwork.Plumbing and Electrical: Moving sinks, showers, or outlets requires careful rerouting to comply with building codes.Before starting demolition or submitting permits, have your plans reviewed by a licensed engineer or architect to avoid costly surprises.
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18 February 2025 | 8 replies
Lower Property Taxes and a booming STR market.
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21 January 2025 | 7 replies
For the LTR outside CA, forming an LLC in the state where the property is located can reduce administrative costs and avoid double franchise taxes in California.
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20 February 2025 | 1 reply
I have begun my tax lien journey.
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21 February 2025 | 2 replies
Did I mention there is no property tax in Croatia ;) When you buy abroad, it’s not just a property that you are buying...you are buying into a lifestyle.
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3 February 2025 | 5 replies
Connecting with experienced investors or joining local real estate groups can provide valuable insights and help you avoid costly mistakes.
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21 January 2025 | 4 replies
If the permanent financing will allow you to recover most of your initial investment and the fair market rent covers the principal, interest taxes, and insurance with cash left over, you have a BRRRR.