Mike Irwin
Short term rental
8 October 2024 | 1 reply
Furthermore, during the rental period, expenses like repairs and insurance were deductible, but these deductions end when the property becomes a primary residence, with only mortgage interest and property taxes potentially deductible as itemized deductions.In short, converting a rental property into a personal residence can provide some tax advantages, but you’ll need to account for taxes on both the depreciation and the portion of the gain from the rental period when you eventually sell the home.
Noah Bacon
How will the Port Strike impact the US economy?
7 October 2024 | 3 replies
The ILA is North America’s largest longshoremen’s union, with roughly 50,000 of its 85,000 members making good on the threat to strike at 14 major ports subject to a just-expired master contract with the United States Maritime Alliance, or USMX, and picketing workers beginning to appear at ports.I have been reading that if the strike drags on, we can expect some shortages on perishable items that the US imports.One of those is bananas; the US imports 100% of its supply.
Alex Tokmazeyskiy
Thinking of investing with Cash out or HELOC
9 October 2024 | 10 replies
Pay off existing mortgage: The new loan pays off your original mortgage, including closing costs and any prepaid items.2.
Robert Bell
Memphis is still the one!
7 October 2024 | 2 replies
I'd much rather read concrete stats and newsworthy items, but instead met with what seems like a covert shill.
Patrick C.
Numbers/ excel spread sheet
7 October 2024 | 9 replies
@Rajiv: Have you seen a sheet that is good to maintain your month by month property management items
Alex Todd
REPS status scenario + underwriting paper losses
9 October 2024 | 9 replies
Assuming you are in the 22% - 24% federal tax bracket for most of your income, your tax would be about $76,000(disregarding standard/itemized deducitons and other income).If you can somehow show rental losses = $300,000, you would get a refund of her federal taxes and potentially state taxes also.
Sarah Hatton
Bpcon 2024 Meetups?
6 October 2024 | 15 replies
Some items considering:- Chichen Itza- Swimming in cenote Ik Kil- Valladolid Centro- Las Coloradas- Izamal- Akumal beach- Shopping in Playa del Carmen- Tulum Ruins- Cenote Dos Ojos- Xplor- Parque Nacional de los Arrecifes (cozumel island)Have not yet looked into transportation or lodging for period outside the conference dates.
Account Closed
PEP fund with Lane Kawaoka
15 October 2024 | 69 replies
As a group we could come up with a detailed list of 30-50 items that are the basics a company needs to have before they ever speak with a potential investor.
Timothy Mcleod
Need advice on a cost segregation study
7 October 2024 | 8 replies
Here's a https://www.irs.gov/businesses/cost-segregation-audit-technique-guide-chapter-4-principal-elements-of-a-quality-cost-segregation-study-and-report to the IRS website noting specific items that are included in the cost segregation study report.
Simeon Rivas
Former tenant want invoices and receipt for deduction from security deposit
5 October 2024 | 10 replies
Here's an explanation of the law: https://portal.ct.gov/dob/rental-security-deposits/rental-se...You must send an itemized list of deductions.