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24 February 2024 | 5 replies
Make sure you document your original cost so you can show the loss on your taxes. :-).
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21 February 2024 | 2 replies
Is he required to issue me a 1099 form for rental income for 2023 taxes?
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24 February 2024 | 11 replies
The pro-forma (then) Jax Investments provided was conservative in that the taxes were overestimated and the rents ended up being more than projected.
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21 February 2024 | 4 replies
I am wondering if I can save some money and just do the tax myself by using TurboTax Business, especially because it's the first year of LLC with only a couple of expense items?
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24 February 2024 | 27 replies
However, in my market a nice unit can easily collect $120,000+ in rent (not taxes, fees, or other pass through costs) and when the locals demand 35% commission my 20% is a steal and isn’t a whole lot more work for the 25k+ a year I’m making per property.
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24 February 2024 | 4 replies
There was one company that was owned by an American and she was the most put together, explaining she would list my property under her LLC to help save me the 25% taxes México charges for nightly rentals (I purchased my condo on a tourist Visa) and they did everything.
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22 February 2024 | 4 replies
Yes, there will be limitations of a TN financial institution as I live in CA, and I have read articles about potential tax and filling season issues if you bank outside the state where the business is registered.
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23 February 2024 | 18 replies
Selling yes. 1031 in a perfect world yes.If you can find a property and meet the time lines then yes.I have done a 1031 and it worked out great.I have also just sold paid the tax and put the money in the bank to have working capital to deploy on my timeline.
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22 February 2024 | 10 replies
Also, you don't want to lose the tax free gain on sale.