13 April 2024 | 19 replies
I think the tax benefits combined with building equity is the goal, cash flow is not a major issue thankfully with our household w2 income.
11 April 2024 | 10 replies
Tax season often leads to creative interpretations of what can be considered a deductible business expense.

11 April 2024 | 23 replies
From Wikipedia, Alabama has the second lowest property taxes behind Hawaii.2.

11 April 2024 | 0 replies
She had no use for it and the taxes were becoming a burden.

9 April 2024 | 2 replies
What apps should I use for setting up a system to invest in tax deeds?

11 April 2024 | 13 replies
Since you requested any book recommendations, I wanted to point you towards Tax Free Wealth by Tom Wheelwright.

11 April 2024 | 4 replies
If your parent’s currently occupy the home, at death if you move in you can get their property tax basis.

11 April 2024 | 7 replies
Definitely discuss w your tax advisor too.
11 April 2024 | 4 replies
If its a 2-4 unit you only need 15% down using a True Portfolio program and you have DSCR as a back up that uses the STR rents to qualify and avoid personal tax returns or income.

11 April 2024 | 2 replies
., 17.5 years remaining for residential property).New Schedule: Simultaneously, start a new depreciation schedule for the additional cost basis attributed to the replacement property, following standard timeframes (27.5 years for residential, 39 years for commercial).Option 2: Treat as New AssetCombined Basis: Treat the entire cost basis of the replacement property (carried-over basis + additional funds invested) as if it were a newly acquired asset.Single Schedule: Depreciate the total cost basis over the standard timeframe for the replacement property type (27.5 years for residential or 39 years for commercial).If you choose option #2, you need to file an additional form (4652) with your tax return.