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12 November 2024 | 1 reply
If not, even though you are a re pro, losses are passive & deductions are limited.There are 7 scenarios that will qualify as material, and you only need to meet one:*500 hours*Substantially all participation*> 100 hrs and at least 1/2*Significant participation*5/10 years*Personal service activity w participation in last 3 years*Continuous participationTo materially participate, you must be involved in the operations of the activity on a regular, continuous, and substantial basis.Once you pass the pro test, the material participation often comes along for the ride.You can elect to aggregate all rental real estate for purposes of measuring material participation under Sec. 1.469-9(g).Your time spent on all your rental properties (STRs don't qualify) counts as one activity, making it easier to materially participate.In order to make a strong case with your CPA and the IRS you need to document your hours.Best practice is an hours log where you are as specific as possible.
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16 November 2024 | 26 replies
They've got experts and experienced investors who regularly dive deep into these topics, so you're always in the know.
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7 November 2024 | 7 replies
Actually for me it is an upside to have indivdual systems so you can monitor tenant behaviors.
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12 November 2024 | 8 replies
My partner and I both have 9-5 jobs with mine requiring work travel, so it has been a challenge attending local meet-ups regularly; which is why I am so glad this platform exists to help us network!
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10 November 2024 | 1 reply
The goal here would to help educate and avoid potential pitfalls before wiring $50,000, $100,000 or even more.We would have educational modules, regular meetings and ZERO solicitation.
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19 November 2024 | 111 replies
I got recertified in the military on my weapon every 6 months and without regular practice and in a controlled environment I still had difficulty with the target.It gives many (not all) people a false sense of security, like they're going to pull out their weapon and go Steven Segal on the situation, when the most appropriate response most of the time is to exit the situation (run/hide/etc).There are reasonable alternatives to carrying a firearm that are at least worth considering for your particular situation.
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8 November 2024 | 2 replies
2) Property Preservation: as the owner you have the right to protect your property - even during an eviction. 3) Monitoring Utilities: you should have been receiving the water bills.
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12 November 2024 | 8 replies
I do inspections regularly and make suggestions, but nothing changes.
10 November 2024 | 19 replies
Otherwise, if you prefer not to go through that process, you'll be hit with a 25% tax on your rental income, which can eat into your profits.I also recommend investing in a couple of cameras and a good smart lock for security and monitoring.
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11 November 2024 | 20 replies
Just regular ones.It sounds like the consensus is to just put up a second mailbox on the street and label them as A and B.