Nate Pucel
How do you determine depreciation basis on a renovated rental?
3 January 2025 | 5 replies
But ask your CPA/accountant because I don’t know.
John Gillick
1031 leverage question on partial sale
15 January 2025 | 11 replies
While there's no strict requirement to match the original mortgage terms, reinvesting the full proceeds without financing or using leverage to enhance returns is key.If you don't reinvest the full amount, any shortfall ("boot") will be subject to capital gains tax, and depreciation recapture may apply.This post does not create a CPA-Client relationship.
Justin Treaster
Dallas Fort Worth wholesalers
15 January 2025 | 27 replies
I can run and model numbers and am a CPA so comfortable with the finance side of things.
Tim Hem
Capital Gains and IRS Publication 523
9 January 2025 | 9 replies
*This post does not create a CPA-client relationship.
Brandon Morgan
is an LLC necessary?
16 January 2025 | 29 replies
You should consult an attorney or CPA for your specific situation.ANONYMITY: When you create the LLC, your name is recorded on the documents and published on the Secretary of State's website for all to see.
Joel Lazar
Tracking App for Material Hours
5 January 2025 | 2 replies
I don't have personal experience with it, but when the app was first developed, I contacted the developer and put the app through a fairly robust test usage to see if it's something I would want to recommend to my clients (I'm a CPA).I think the app is great for its intended purpose and I do recommend it to my clients now (and have for about 18 months now).
Max Bellino
Online Cost Seg studies Vs Site Visits
30 December 2024 | 5 replies
Consult a tax professional to optimize deductions and explore strategies like Real Estate Professional Status or short-term rental loopholes to apply depreciation to non-passive income.This post does not create a CPA-Client relationship.
Clinton Davis
What's the latest on this BOI?? Go or no go?
3 January 2025 | 13 replies
Visit FinCEN’s website for filing details.This post does not create a CPA-Client relationship.
Joan E.
rental property and tax filing
2 January 2025 | 3 replies
You can also use the CPA Finder here on BiggerPockets to get started too.
John Malone
Are you aware of the new Corporate Transparency Act Coming in 2024 (every LLC)
31 December 2024 | 22 replies
At our firm (tax advisory) we are offering a service to help clients with this and we expect many tax/cpa/law firms will as well.