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19 April 2024 | 5 replies
Quote from @Montana E Manship: hello I'm new to real Estate and investing in general, here for all the knowledge I can acquire.
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19 April 2024 | 14 replies
Make sure you RSVP because we only have 6 out of 100 spots left.https://www.eventbrite.com/e/momentum-makers-investor-meetup...
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18 April 2024 | 3 replies
These expenses would be reported on Schedule E (Supplemental Income and Loss) of your tax return.Since you incurred these expenses before you started renting out your property, you can typically depreciate the cost of the furnishings and any improvements made to the property over their useful life.
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17 April 2024 | 6 replies
How should the tax return capture each property separately as well as the 1099.1099 Total (example): 36,000k totalproperty 1: 10k total rentproperty 2: 20k total rentproperty3: 6k total rentThis is what we are doing and just curios as pros and cons: We report a schedule E for each property.
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17 April 2024 | 3 replies
Quick back story is I am a Missouri resident that sold a Maryland property in June 2023, I've e-filed my federal and MD tax return as of the first week of April 2024.
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17 April 2024 | 3 replies
We'll typically pay $25-50 each time we have to schedule a group viewing or inspection, delivered as an e-certificate from either Longhorn Steakhouse, Red Lobster, or Amazon.Works like a charm!
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17 April 2024 | 7 replies
As far as expenses for things such as electricity and RE taxes (paid in 2023), those will generally be deductible on Sch E.
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17 April 2024 | 5 replies
We used Dormkaba e-Plex on our 24-unit apartment for exterior doors and never had a problem.
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17 April 2024 | 13 replies
Of course, you can do tax write off if you own investment property using Schedule E, but please consult with your CPA the best way to do this in your particular case.
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17 April 2024 | 5 replies
Here are some of the highlights: quickly set up bank accounts for each property and sub-accounts under those for things like security deposits and CapEx; virtual credit cards tied to each property; quick transfer of funds; ability to send money back and forth to tenants (some platforms are for collection only but won't let you send your refundable deposits back to your tenants); easily categorize every transaction into IRS Schedule E categories for reporting taxes; ability to split transactions; tenant management from vetting to drafting lease agreements to collecting rent.