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20 September 2015 | 8 replies
You wrote a blog that spoke to the line-by-line item of tax treatment and what items would be used for deduction where and why. http://www.biggerpockets.com/renewsblog/2015/06/07...With these changes, how do we account for these if the form is no longer to be used-my understanding at least as it's being replaced?
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16 September 2015 | 1 reply
I am interested in following discussion threads re matters involving disposition of rental and investment properties pursuant to divorce.Because of the possibility of beneficial section 1031 tax treatment, I wish to follow discussions about conversion of residential primary homeowner property in part or full to rental property and tax treatment upon sale after 2 years or longer.I frequently am asked to provide consultations on these subjects when involved with divorce financial analysis.
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28 September 2015 | 12 replies
He has been to treatment he says he did more drugs in treatment than on the outside.
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12 November 2018 | 13 replies
It's my understanding that public comment closed last April concerning the accounting treatment of and the equities in option contracts under a proposal by the FASB, and that the IRS will be adopting changes being phased in next year and to 2017.
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5 October 2015 | 14 replies
I'm not a CPA, so don't take this as an authoritative answer, but my impression is that in most cases a real estate asset held at least one year should be eligible for capital gains treatment.
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12 October 2015 | 5 replies
I'm pretty sure that in both cases, if I wanted just the termite inspection for some reason, I could have paid a lower fee and gotten that.Keep in mind that I'm very new to this, but my thinking goes as follows: If you know the house needs (say) $50K of rehab otherwise, and you have to open up enough of the walls or floors that you'll probably see any damage that is already there, then skipping the inspection and maybe having to spend another $2K on treatment if you find damage is probably not such a big deal.
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13 November 2015 | 32 replies
If the CPA is even talking about the Tax Court's treatment of something, that would be legal advice and improper.
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10 October 2015 | 7 replies
Per the mitigation firm, the mold is contained to the crawlspace, with no indication it is in the living space.Environmental Services said that he feels that the home is safe to stay in since the mold is 1) in the crawlspace, 2) there is a plastic tent over the access trapdoor, 3) the furnace is not located in the crawlspace, 4) the mitigation company has established negative air pressure in the crawlspace 5) as well as using anti microbial treatments and 6) water remediation efforts.I consulted with a real estate attorney.
2 March 2019 | 15 replies
A doctor’s letter does not turn an animal into a service animal.While Emotional Support Animals or Comfort Animals are often used as part of a medical treatment plan as therapy animals, they are not considered service animals under the ADA.
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8 March 2015 | 2 replies
I'm inclined to LLC as I was told LLC offers better protection and may have better tax treatment.2.