Robert Spiegel
Security Deposit Deduction: What is reasonable for cleaning
21 January 2025 | 10 replies
My lease requires professional carpet cleaning, which would cost more than $500 for a home of that size.Yes, it's reasonable to reduce the cost because she was such a long-term tenant.
Sung Yu
1031 fourplex into a single family
23 January 2025 | 5 replies
@Sung Yu You can 1031 exchange your fourplex into a single-family home, provided it’s initially used as an investment property (rented for 1–2 years) to meet IRS requirements.
Clarase Mika
Did You Know You Can Purchase Property in Germany With Only 5-10% Down? Here’s How
24 January 2025 | 0 replies
Show Financial Stability- Proof of Income: Military pay provides a stable and reliable income source that banks value.- Creditworthiness: German banks assess your financial standing, so keeping accounts in good standing is critical.4.
Cathy Ries
Is it worth tax planning before acquiring rentals?
29 January 2025 | 2 replies
The one aspect I'd say where planning can really provide benefit however is with tax planning.
Caryn Fischer
Tax question with selling a house
22 January 2025 | 4 replies
Selling at FMV avoids the gift tax but provides your child with a higher tax basis, reducing their future capital gains liability.A better strategy for selling below FMV is to sell the house at FMV on an installment note, then forgive interest and principal annually up to the gift tax exclusion amount.
Daniel Madhavapallil
House Hacking and Tax Strategies
23 January 2025 | 11 replies
@Daniel MadhavapallilYou should hire a tax professional.
Kyle Kulhanek
Retitling a property to an LLC - Chicago
23 January 2025 | 7 replies
While this guidance provides general steps, it’s not legal advice; an attorney will ensure the process aligns with your specific circumstances.This post does not create a CPA-Client relationship.
Noah Laker
TAXES: Divorced client wants to sell
17 January 2025 | 3 replies
Readers should seek professional advice.
Dallas Smith
Selling 2 properties
24 January 2025 | 5 replies
As far as your primary residence, if you have lived in it 2 out of the last 5 years, you should not have to pay taxes on capital gains (difference between what you paid for it & what you sold it for) up to $250,000 if you file your taxes as an individual and $500,000 if you file jointly with a spouse.Just a disclaimer, I am not a tax professional.