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2 February 2025 | 178 replies
I personally used Jon McGraw in the past and he is extremely knowledgeable in the field.
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5 January 2025 | 18 replies
Hi James,I personally don't have enough experience to answer your question, but there is some helpful stuff in a similar discussion here: http://www.biggerpockets.com/forums/52/topics/1779...You will find related discussions to any forum discussion you are reading at the bottom of each forum discussion page, and they can often help you find posts that answer your question.
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7 January 2025 | 13 replies
Hiring a lawyer sounds expensive, but it is way cheaper than hiring a amateur (in this case yourself) who costs you money and provides no results (and then you need to hire a professional anyway).My personal philosophy is to "do it right, or do it twice" and its way cheaper to do it right once.
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4 February 2025 | 4 replies
Quote from @Jeffrey Duck: I see no reason to pay an attorney for this, but it's your dime.The current lease was between you and Person B.
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3 January 2025 | 14 replies
I am the owner of DealMachine and take personal responsibility for making sure we communicate clearly and have issued a refund to you (the initial charge was April 2023 and it is 2025 now... sorry it took so long to see this).Direct mail is a hard cost, so when you send out direct mail, you get the first 20 free during the free trial.
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1 February 2025 | 56 replies
Instructing or deliberately causing a borrower to sign business-purpose loan documents when you know the money will be used for consumer purposes has always carried civil liabilities.
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3 January 2025 | 5 replies
Use IRS instructions to understand the definitions.
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17 January 2025 | 24 replies
IRS 590 also explains this.5) When you receive a distribution or otherwise get paid back, never take personal control of the money.
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6 February 2025 | 5 replies
Recapture typically happens only when you sell the property.If you use the property partly for personal use and partly as a rental in a given year, depreciation and other expenses must be prorated based on the number of days it was rented versus personal useBased on the current tax laws and regulations, once you've taken bonus depreciation on an asset, you cannot "capture" additional bonus depreciation on that same asset in future years, even if the rates increase.In the 2024 tax year, the rate for bonus depreciation is 60%.
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14 January 2025 | 28 replies
But what it's really doing is making me a better business person.