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31 January 2025 | 22 replies
I was just reading Mark's book "The Tax & Legal Playbook" this morning and it specifically had a "critical warning" (page 31&32 in Chapter 3).
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5 January 2025 | 7 replies
You filed two full year tax cycles and the numbers are similar (no greater variant than 1%) they maybe yes.Generally depreciation is added back as income BUT only the 40% portion you own not all of it.
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13 January 2025 | 8 replies
If the signs point to selling, consult your CPA about the tax implications.
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11 January 2025 | 2 replies
If you need financial help, ask under the "Finance, Tax, and Legal" forum.
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16 January 2025 | 4 replies
If you are going to sell then you must understand the tax implications.
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7 January 2025 | 5 replies
Some might not be livable at purchase but 5k still seems cheap unless there is something off with the data. maybe the prices were reduced on unlivable properties due to back taxes being part of the deal for the purchase.
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21 January 2025 | 10 replies
- Unlikely $60/hour3) Even with all payroll taxes, insurance, etc., they are making a profit margin on that hourly charge.Another way PMCs usually make a markup on maintenance, is that they send you all invoices on their letterhead, or from a maintenance company they actually own.
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3 January 2025 | 5 replies
@Steven HsuBigger Pockets is a great place to find a real estate tax accountant.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.
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6 January 2025 | 17 replies
NC is a great market for your goals, however it will be challenging to find inventory that has much cash flow; many people who toss money into multifamily here do it to avoid the tax bill + take the 10 year runway of growth.How much SHF RE do you currently have?
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10 January 2025 | 0 replies
In US tax law, the depreciable lifespan of an asset is defined by its MACRS classification which stands for “Modified Accelerated Cost Recovery System.”Under MACRS, depreciable assets are assigned to different classes, with each class having a specific recovery period.