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3 May 2024 | 2 replies
There are set fees like any grantors tax, HOA disclosure package, then fees that vary, like settlement fee, deed prep, prorated real estate taxes, commissions, closing cost assistance requested in contract, etc.
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3 May 2024 | 18 replies
I am currently reading The Book on Tax Strategies for the Savvy Real Estate Investor by Amanda Han and Matthew Macfarland.
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2 May 2024 | 19 replies
Use your least tax-efficient money to buy your most tax-efficient assets.
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3 May 2024 | 1 reply
I found there was loans taken out using a 3rd party that was disguised or hidden on their taxes.
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2 May 2024 | 4 replies
I have a Villa in Tulum, Mexico and am having a hard time understanding how much of the "Host Payout" actually goes to me, because I would think that the entire $665.57 would be mine but it looks like they deducted the "Cleaning Fee" and "Remitted occupancy tax" the "cleaning fee" I understand but am confused on where the "Remitted occupancy tax" is going.
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1 May 2024 | 7 replies
A bill that would have increased property taxes 400% on all STRs failed by a wide margin on Tuesday.
3 May 2024 | 5 replies
If the STR income is on your tax return it is qualified just like long term rent using this form: https://content.enactmi.com/documents/calculators/Form1038.C...
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8 May 2024 | 112 replies
4) Depreciation for tax purposes The amount of annual depreciation OVERLY offset my net income on the property.
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2 May 2024 | 27 replies
Ins and taxes are only going higher, and IMO FL is heading for a correction, its already started.
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30 April 2024 | 9 replies
Hey @Amir J Reichental, There are small pros and cons to this: Home Address:Pros:Privacy: Providing your home address keeps your personal information private, as it's not tied directly to your business.Convenience: If you're already receiving mail and other communications at your home address, it may be more convenient to keep everything in one place.Cons:Risk: Using your home address exposes it to potential risks associated with the property owned by the LLC, such as lawsuits or creditors targeting your personal assets.Tax Implications: Depending on your jurisdiction, using your home address could have tax implications, especially if you're claiming any tax benefits or deductions related to the property.LLC Address:Pros:Asset Protection: Using your LLC address helps separate your personal assets from your business assets, providing an extra layer of liability protection.Business Image: Using the LLC address for business-related documents can help establish credibility and professionalism for your company.Cons:Public Record: LLC addresses are often part of public records, which means they may be more accessible to anyone who wants to find information about your business.Mail Handling: If you don't have a physical presence at the LLC address, you'll need to ensure mail forwarding or a reliable method of receiving important documents.Ultimately, the decision depends on your specific circumstances and priorities.