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Results (8,617+)
Kari D. New driveway to add value to heloc appraisal?
4 April 2018 | 0 replies
Both the driveway and back patio are concrete pads that are cracked and broken (beyond repair).
Felix L Perez Tax season for a beginner
12 April 2018 | 4 replies
@Felix L PerezIt is okay if you are not proficient in tax - you can easily hire a tax accountant to help you.I am not good at plumbing and I would never dare to try to fix my plumbing issues.If you are involved in a flip that you acquired the property in 2018 - there won't be any benefit that you can use to do on your 2017 return.Expenses that are ordinary and necessary are deductible.
Alison S factoring in travel
24 February 2018 | 9 replies
@Chris MacDonald Your trip must be primarily for business (ordinary and necessary -- necessary meaning more like "appropriate" than "absolutely have to") to get some deductions.  
Ezell Jamison Understanding LLC through and through
23 February 2018 | 3 replies
@Ezell JamisonBelow is the IRS interpretation of what you can deduct"To be deductible, a business expense must be both ordinary and necessary.
Adam Hobson Newbie from Birmingham Alabama
23 February 2018 | 4 replies
I have done flooring, tile patios, hot water heaters, masonry work, molding and concrete work on personal projects so I know some about cost of repairs and timelines of projects (Always over on both from my experience).
Travis Buck Possibility of being audited??
3 March 2018 | 11 replies
to take a business deduction - the deduction must be ordinary and necessary to your business.
Rick Shurtz 2 flat / 3 flat in Chicago
10 January 2019 | 10 replies
Such conversion need not comply with the requirements of the following specific provisions of this chapter:(a) Section 13-196-660 (height limits); however, in frame buildings, four or more levels of living space shall be prohibited and in buildings of ordinary construction, with or without attic living space, five or more levels shall be prohibited; (b) Section 13-196-050; however, all dwelling units must comply with the exit provisions of Chapter 13-160 except basement dwelling units may have a second exit through a room containing a heating plant; (c) Section 13-196-670 (stairwell enclosures); (d) Section 13-196-680 (corridor enclosures); (e) Section 13-196-690 (dwelling separations); (f) Section 13-196-710 (basement ceiling construction); however, if the basement contains a dwelling unit the entire basement ceiling construction is to be wood lath and plaster of half hour construction; (h) Section 13-196-720 (heating plants); however, basement apartments are to be separated from heating plants with partitions of one hour construction.
Mark Krier Retiring landlord strategy
28 February 2018 | 6 replies
It's supposed to be considered ordinary income, but when I plug it in, my tax bill rises by 50% of the amount of interest I report. 
John Lee Accounting question for personal loan with title in LLC
14 March 2018 | 8 replies
If an audit ever comes up - I would just mention that the LLC is required to make the payment otherwise the property would go into foreclosure; hence is it ordinary and necessary for the partnership to make those expenses(and therefore qualified to deduct the expenses).
Account Closed Appraised Value VS Sold Value
12 March 2018 | 6 replies
It's not like being in a patio home development where every house is the same so it truly comes down to the opinion of the appraiser plus the opinion of the buyer.