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4 November 2024 | 17 replies
All of this needs to align with a motivated seller's ideal image of their perfect cash buyer.Let me explain:When you do a Google search, let’s say for a contractor, you already know what you're looking for, correct?
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1 November 2024 | 0 replies
Section 179 of the Internal Revenue Code allows businesses to deduct the full purchase price of qualifying equipment and software up to an annual limit.In 2024, for example, taxpayers can expense up to $1,220,000 of qualified assets.This election can apply to many types of tangible personal property, such as machinery, equipment, and off-the-shelf software, which are used predominantly in your business.Limits on Section 179 ExpensingAs attractive as Section 179 may seem, there are limits.For tax year 2024, the maximum investment limit is set at $3,050,000.If your business places more than this amount in service, the amount you can expense is reduced dollar-for-dollar over this threshold.In addition to the dollar and investment limits, the amount of your Section 179 deduction cannot exceed your taxable business income for the year.This means that even if your business invests heavily in qualified property, the deduction could be limited by the business’s profitability.Also, not all property qualifies for Section 179.Real property, like buildings and structural components, generally does not qualify unless it is "qualified improvement property."
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31 October 2024 | 18 replies
Co-buying with friends for vacation properties like Tahoe can work well if everyone is aligned from the start.Good luck!
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7 November 2024 | 18 replies
Whether you choose to join a program like ours, hire a business coach, or work with a mentor, the key is to find the right support system that aligns with your goals.Real-World ExamplesTo get a better sense of what we offer and see some of the successful deals we’ve done with our partners, please visit my BiggerPockets profile.Final ThoughtIt’s crucial to weigh the benefits of paid programs against free resources and determine what works best for your personal situation.
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31 October 2024 | 8 replies
That's the key component that is usually missing when I hear other entrepreneurs/investors say they don't like QBO.Something else to keep in mind is your entity structure and how your entities file tax returns.
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3 November 2024 | 15 replies
Create a simple spreadsheet or written list to compare the features of each and identify the ones that align with your requirements.
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1 November 2024 | 19 replies
Align Foundation Repair and MCR Foundation both should be able to quote you under $200 per pier.
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31 October 2024 | 4 replies
Align yourself with several investor-strong agents or long-time agents with tons of connections.
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5 November 2024 | 29 replies
Create a simple spreadsheet or written list to compare the features of each and identify the ones that align with your requirements.
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1 November 2024 | 9 replies
@Sean ConroyThe cost of building is not going to go down, unless you're looking at the debt component.