Keeping clean records from day one really helps when tax season rolls around.

It reminds me of one of the TAX sale how to traveling freebie events that came to town last spring..

Taxes: Be aware of potential transfer or capital gains taxes, depending on your state.4.

Additionally, high-income earners with modified adjusted gross income (MAGI) over $250,000 (married filing jointly) may be subject to the 3.8% Net Investment Income Tax (NIIT).For 2025, bonus depreciation is at 40%, so consider leveraging it for eligible property assets like appliances or fixtures to accelerate deductions.

I have been an avid listener of Bigger Pockets podcast since 2020 and am very hopeful I can finally begin my real estate journey sometime this year either in state or out of state (or Both!)

Michigan offers tax credits and breaks for development projects, especially in designated areas like Opportunity Zones.

I gave this student direction on finalizing their goals, but also some other steps they could take.

From a tax perspective, you'll want to take what you paid for the property plus calculate the improvements you made to the property during your time of ownership.

After many years of listening to BP/Real Estate Podcasts, reading, and building up my finances, I believe there’s no better time than now to finally jump into the real estate world.

Finally in the mix we had Covid, which pushed a lot of people out of big cities up to our beautiful area with lakes, rivers, mountains, etc. and housing inventory is crushed!