
25 September 2024 | 17 replies
That way we could either claim expenses as deductions or through depreciation, rather than just as an increase in basis for capital gains if it was our primary residence?

25 September 2024 | 7 replies
Real estate offers several advantages, such as tax deductions through depreciation, appreciation, and the potential for cash flow.

25 September 2024 | 3 replies
She recommended raising your deductible for now to try to lower the amount.

9 October 2024 | 312 replies
Do the math on property valuation: deduct 20-25% from purchase price if bought post-2020, less remaining debt, less amount of preferred equity (if any), less any member loans.

24 September 2024 | 0 replies
The tax advantages of buying/holding gas stations are pretty great.Many of the components of gas stations including pumps, tanks, external parking areas, and other equipment are classified as either 5 or 15 year property so you can bonus depreciate a lot of it (minus the land value) and get significant deductions in year 1.With the current bonus depreciation rate at 60%, a $1 million gas station acquisition could still lead to $100K+ in year 1 deductions depending on the specifics of your deal.

25 September 2024 | 18 replies
The 2,500 would obviously not compare to tax deductions generated in the thousands.

25 September 2024 | 1 reply
This is useful to you because the loan pay-down is taxable income even though you haven't put it in your pocket yet (Only the mortgage interest is deducted on your taxes). 2.

24 September 2024 | 4 replies
Investment interest can be deductible.3.

26 September 2024 | 4 replies
One thing to confirm is the interest deduction on the HELOC, primary V investment as it pertains to the next acquisition.

23 September 2024 | 19 replies
Example: your business collected $50k in gross income but had $30k worth of deductible expenses.