What a lot of people think:Bonus depreciation is only for new properties or acquisitions.The truth:You can retroactively apply bonus depreciation to property placed in service after September 27, 2017, when the Tax Cuts and Jobs Act passed changing various rules.The IRS allows you to claim missed depreciation deductions by adjusting your current year's tax return, without needing to amend the previous year's returns.This is typically done through a change in accounting method using IRS Form 3115.

If so just go back to that attorney and have them amend the % of ownership with PSA.   

In August 1999, TREC amended Section 535.20 of the TREC rules to provide that for purposes of that section, the term "valuable consideration" includes, but is not limited to: 1) money; 2) gifts of merchandise having a retail value greater than $50; 3) rent bonuses; and 4) discounts.

Nobody can foreclose.The problem was fixed in the 2024 amendments.

HI @Jyotin GautamShort answer is no in Texas Long answer according to the Texas Real Estate Commission " Under the amended rule, a broker could give an unlicensed person a gift of merchandise having a value of no more than $50 and this would not subject the unlicensed recipient to a charge of unauthorized practice as a broker, nor result in a violation of TREC rules by the broker giving the nominal gift."

As long as you duly amend your Leases, properly manage your Tenants' expectations, and send transparent statements, you'll have no problems (and wonder why you didn't do it earlier!)

The studies can address current year assets as well as those placed in service in prior tax years without the need to amend prior tax returns.ConclusionUnderstanding the difference between short-term and long-term rentals is crucial for real estate investors, particularly when it comes to depreciation and tax planning.

Originally drafted to prevent landlords from using security deposits for cleaning or repairs, the bill was amended after opposition from the California Apartment Association (CAA).Landlords will now need to photograph rental units before tenants move in, at the end of the lease, and after repairs or cleaning.

I've seen architects spec the wrong sprinkler system more than once and you either have to spend nearly double on a larger system with a dedicated water line or amend the plans (and potentially lose months depending on when the mistake is caught) waiting on the amendment to go through so you can move the project forward.

Dissolving the LLC would require starting over with a new entity, which can be more time-consuming and may reset any business credit you've already established.To change the name, you can file an amendment with the Wyoming Secretary of State, which is straightforward and keeps the LLC intact while giving you a fresh identity.