
18 May 2024 | 0 replies
I check county records, tax records, current appraisal from the local municipality, and check for comps in the local are with respect to the properties condition.

18 May 2024 | 11 replies
It might not make a difference to you, but your tax pro and bookkeeper will hate it.

18 May 2024 | 12 replies
My only income is 1099s, which I write off a majority of it to lower my taxes.

18 May 2024 | 4 replies
I bought these properties cheap, had them fixed up and not have they appreciated a lot that also generate a nice tax free cash flow that goes back into my IRA to be redeployed into more properties.This is a huge tax free money maker.

18 May 2024 | 3 replies
No, it was a single 30-day stay.Proof is not required when you file your taxes.

17 May 2024 | 4 replies
You won't have to file a state tax return with Tennessee as they don't tax rental income.You likely want to work with a CPA who understands the different state tax laws.Good luck in your search

18 May 2024 | 15 replies
It sounds like you are looking for an employee as defined by most taxing bodies.

18 May 2024 | 14 replies
Taxes are high in Carbondale.

15 May 2024 | 7 replies
Is there a tax advantage if I do a cash out refinance of one of the rentals and buy the primary out right?

16 May 2024 | 4 replies
As my avg rental period is <8 days, and I have <14 days personal use at the property and believe I can meet the material participation test, this should be a non-passive activity.Specific Questions on Material Participation:1) Do hours logged for material participation in 2022 include time prior to placing the property in service (i.e. first half of 2022)?