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23 March 2018 | 11 replies
Start at the tub and work towards the door....that way you aren't trying to work with a thin piece near the tubBefore I snap in the piece, I would probably put a big bead of silicone down on the joint between the tub and floor and then put the plank down so the silicone gets a good seal to the plank..... then later put another bead on "top" of the plank to tub joint
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27 March 2018 | 1 reply
Normally improvements and repairs get added to the basis of the house aslong as you did not deduct them on your return when they were a rental property.Allowing you to deduct the expense and add the basis is double dipping.Please make sure to have all your receipts in a row when you do sell it.Utilities, HOA fees, home insurance do not appear to be added to basis.I also bought another property in 2017 with the intent to rent, but I had to fix up the place in 2017.
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28 March 2018 | 5 replies
The more money you make, the higher your next dollar will be taxed(the federal tax rate is capped at 37% in 2018).If you are reporting income on your rental business - it would be added to your other income(W-2) and you would have an overall higher effective tax rate.
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30 March 2018 | 4 replies
You paid $11,000 in state taxes, deducted $10,000 in 2018, and received a 1099-G for $1,000 (which will be added to your income next year).
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23 November 2018 | 7 replies
(but make it a sub-account of the property so that the expenses to fix up the property will be added to the total cost of the property in the fixed asset account of QuickBooks).
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1 April 2018 | 2 replies
They would be adding the kitchen after closing.Any input would be appreciated.
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2 April 2018 | 4 replies
In general, I would suggest repairing the rented unit when it is rented now because once you move in to renovate, yes the improvements are added to the basis, but repairs are not ( there is one exception) Although there is a rule that when you are improving the personal residence and there are minor repairs done with the improvements, those repairs can be added to the basis, but you would benefit more doing the repair now while it is rented to get a tax deduction right away rather than adding to the basis.
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4 April 2018 | 0 replies
I know that I need to do more networking events to gain more buyers but is there any other solutions that anyone can think to where you don’t have to go through the headache as much of people beading around the bush and not actually being serious about investing.Thank youIan
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9 April 2018 | 2 replies
2) which expenses, if any, from the refinances(3 times) I've done after initial purchase and before the latest refinance in 2012 can be added to the cost basis adjustment?
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22 February 2018 | 3 replies
.), and new appliances. my estimates: 4-5kAll my estimated include parts and labor (certified and insured electrician, plumbers, painters, ... etc)Bed bugs/Pest control cost should also be added, I think.Whole apartment is about 900 square feet.