John B.
Tax implications of IRS 121 for the sale of a home???
27 June 2018 | 3 replies
You’ll pay recapture tax on the depreciation while it was a rental at ordinary rates, 25% max.
William Brock
Austin TX software engineer checking in!
29 June 2018 | 13 replies
Light bulbs on back patio.
Joel Fine
Should I get a Calif RE license if I'm investing out of state?
11 July 2018 | 10 replies
However, I've found that by regularly checking Zillow, I can find relevant listings about as well as those automated searches.I've heard that agents can see information in MLS that ordinary mortals can't, and that this information can be valuable.
Daniel Sabato
Getting Approved for a Loan
7 July 2018 | 11 replies
Some minor monthly expenses but nothing high or out of the ordinary.
Mina G.
Tank sweep completed but can’t scan front porch
7 July 2018 | 3 replies
While there may be a chance of something under the patio, I’d figure it’s highly unlikely if there are no remnants of supply lines or fill pipes.
Mark Roberts
Newbie with tax question...HELP please
9 July 2018 | 2 replies
For instance, you have ordinary income (income from performing a service like flipping a home, selling inventory, or working a W-2 job).
Joe Wood
Reducing taxable income ideas
9 September 2018 | 5 replies
Rather than giving you the list, first, let me say that you can deduct expenses that meet these two criterions: Ordinary Course of BusinessNecessary in the course of businessHere is the list some of the items:1) Mileage: any mileage that is associated with the rental activity.
Culin Tate
Depreciation for Part-Timers
6 September 2018 | 1 reply
Unfortunately, not all of them specialize in real estate taxation.For one to claim a deduction - it must be ordinary and necessary(and reasonable) in the business that you are in.Rental properties go through wear and tear from year to year.
Gail Yezombek
Ordinary Income vs capital gain with flipping
7 September 2018 | 3 replies
Would his be ordinary income as part of his construction business as he did most of the work and paid his employees as contractors.
Anna Buffkin
Hurricane Florence tenant memos
12 September 2018 | 3 replies
If you are not sure what to put in the email or whatever form of communication you choose, this is what I say:Be sure you follow all recommendations for the county by local emergency officials.Please remember to bring in all outdoor items ahead of the storm including things like patio furniture and children's toys.Let me know if there is any damage to the property as soon as it is safe to do so.