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12 February 2024 | 4 replies
@Tammy Muller here are two great threads that cover the accounting software options and feedback thoroughly: BP -> Quickbooks or something elseBP -> Fav bookkeeping/accounting softwareThey don't mention either of these options, but that might be because RentalHero & REI Hub are full-blown property management software, and Quickbooks Online, Digb, and Stessa are accounting/tax software focused on real estate investors.
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10 February 2024 | 4 replies
But now I am being told that if I do a refi to pay them off I will lose the 'prop 19' tax basis on the portion of the property I buy from them, even if I move into it as my primary residence.
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12 February 2024 | 4 replies
As a newbie, my first question is around how to start out.What is the best type of business for Real Estate Investing to get the best tax break?
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12 February 2024 | 20 replies
I agree with the cost of high taxes it's hard to make a profit but not impossible.
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12 February 2024 | 31 replies
Multiple, billion dollar companies are investing into our area, such as Intel, Google, and Amazon, due to reasons such as lower costs on land, great tax abatement opportunities, and an attractive cost of living for employees.
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10 February 2024 | 9 replies
I use them for 1040 prep, but that's it.Separately, I have a Japanese CPA who helps with my J-taxes.
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12 February 2024 | 4 replies
However, I usually keep depreciation off the balance sheet until I can see the tax return and I go back and add it for the previous year.
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12 February 2024 | 14 replies
Low property value and amount financed, escrows ( I don't consider as you have to pay tax and insurance anyhow), origination fees because of the low dollar amount
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13 February 2024 | 25 replies
It will be almost impossible to lose the property and the cash flow will still be at least slightly tax advantaged because of depreciation.
12 February 2024 | 3 replies
PM me, I have a 1st NPL in SC I am selling off and may have others soonNo second, taxes current