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26 March 2024 | 34 replies
For purposes of this paragraph (e)(3), an activity involving the use of tangible property is not a rental activity for a taxable year if for such taxable year—(A) The average period of customer use for such property is seven days or less;(B) The average period of customer use for such property is 30 days or less, and significant personal services (within the meaning of paragraph (e)(3)(iv) of this section) are provided by or on behalf of the owner of the property in connection with making the property available for use by customers;(C) Extraordinary personal services (within the meaning of paragraph (e)(3)(v) of this section) are provided by or on behalf of the owner of the property in connection with making such property available for use by customers (without regard to the average period of customer use);(D) The rental of such property is treated as incidental to a nonrental activity of the taxpayer under paragraph (e)(3)(vi) of this section;(E) The taxpayer customarily makes the property available during defined business hours for nonexclusive use by various customers; or(F) The provision of the property for use in an activity conducted by a partnership, S corporation, or joint venture in which the taxpayer owns an interest is not a rental activity under paragraph (e)(3)(vii) of this section.
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24 March 2024 | 24 replies
It's crucial to conduct thorough market research, analyze potential properties, and evaluate their financial performance, including cash flow, cap rates, and projected returns.I recommend working with a local realtor familiar with the South Florida market to help you navigate the area, identify suitable properties, and provide guidance based on your investment objectives.If you have any further questions or need additional assistance, please feel free to ask.
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23 March 2024 | 11 replies
We plan to conduct a direct mail marketing campaign.
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21 March 2024 | 3 replies
Evaluate Your Goals, Conduct Market Research, Diversify Your Investments, Financial Preparation, Network and Build Relationships, Risk Management and Seek Professional Guidance I hope it helps.
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22 March 2024 | 11 replies
However, it is crucial to conduct a thorough analysis of all expenses, including property management fees, repairs, and vacancies, to ensure the investment aligns with financial goals and risk tolerance.
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22 March 2024 | 21 replies
A growing population fuels demand for housing, presenting opportunities for property investors.Before making any investment decision, it's crucial to conduct thorough research, consult with real estate professionals, and consider your financial goals and risk tolerance.
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21 March 2024 | 8 replies
Conduct detailed market research to identify neighborhoods with strong rental demand and potential for income growth.
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20 March 2024 | 2 replies
To be considered a trade or business for the qualified business income deduction, all of these must be true:Your participation in the rental activity must be regular, continuous, and substantial.You conduct the rental activity with the expectation that you'll make a profit.The rental activity is conducted in the United States or Puerto Rico.Rental activities that are considered trades or businesses include:A real estate professional who materially participates in the activityA rental to a commonly owned trade or businessRental activities that aren't considered trades or businesses include:Rentals for less than fair market value (FMV)A lease agreement in which the tenant pays for real estate taxes, insurance, and maintenanceA vacation home that's rented out and also used as a personal home
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20 March 2024 | 5 replies
Not a CPA or tax professional.I’ve never audited every single line item of my S-Corp tax returns for over 18 years, and I’m truly curious why it really matters in one years instance, what corporate account was used to conduct business, as long as the financial information is accurate and correctly reported from said dedicated business account.This should be a separate issue from proper and legally correct business operations, ie a checking account with correct tax ID, no outside commingling of funds with self or other business entity.
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20 March 2024 | 4 replies
If the opportunity arises later on, treat it like any other tenant situation and conduct proper screening procedures.Best of luck to you!