Ian Bower
DSCR Loan Fees - More than expected... is this normal?
11 October 2024 | 27 replies
Generally, only 1 or 2 years of business and personal tax returns (depends on how long your business has been around) should be the only additional docs needed for most self employed vs W-2 wage earners.and the items mentioned above are not relevant for a qualified borrowers (and some are down right incorrect).
William C.
Cost seg depreciation recapture model
13 October 2024 | 11 replies
Depreciation is going to still be offsetting cash flow quite a bit - when you accelerate depreciation, it doesn't technically do absolutely every depreciation item in year one, so there still is going to be quite a bit of depreciation to offset your cash flow.On top of all of this, the tax benefits largely are going to come in year one to offset your income.
C Rutherford
Responding to tenants
12 October 2024 | 9 replies
I simply said the issue wasn't a lease item, but he was welcome to walk over and talk to my tenant...he never did.
William Downey
Managing / Organizing Finances for Flipping Business
9 October 2024 | 2 replies
As a GC I can advise try to retain control of your finishing material orders (anything where you need to make a choice ((tile, flooring, lites, faucets, tubs)) vs. construction materials (2x4s, mortar, shingles)) because we get those discounts on the finishing items and we keep them!
John Patrick Lasher
Need some creative lending options. $3.8 million deal on the hook
9 October 2024 | 8 replies
If we could use the other items I listed, we are right there.
Jonathan Bock
Do investors know what their tax rate is?
10 October 2024 | 23 replies
They know their rate.The stock forms from my CPA include a tax comparison page that makes it easy to calculate the effective tax rate and compare line items year over year.
Account Closed
7 Common Mobile Home Inspection Problems
10 October 2024 | 0 replies
Have you ever overlooked a major item that needed replacing?
Matthew Freese
Tax Deduction Rollover Into Next Year
9 October 2024 | 5 replies
The only items affecting capital gains are basis and expenses of sale.
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.