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1 November 2024 | 3 replies
We're located in Great Barrington, MA and we are rookies getting into REI.
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1 November 2024 | 0 replies
Section 179 of the Internal Revenue Code allows businesses to deduct the full purchase price of qualifying equipment and software up to an annual limit.In 2024, for example, taxpayers can expense up to $1,220,000 of qualified assets.This election can apply to many types of tangible personal property, such as machinery, equipment, and off-the-shelf software, which are used predominantly in your business.Limits on Section 179 ExpensingAs attractive as Section 179 may seem, there are limits.For tax year 2024, the maximum investment limit is set at $3,050,000.If your business places more than this amount in service, the amount you can expense is reduced dollar-for-dollar over this threshold.In addition to the dollar and investment limits, the amount of your Section 179 deduction cannot exceed your taxable business income for the year.This means that even if your business invests heavily in qualified property, the deduction could be limited by the business’s profitability.Also, not all property qualifies for Section 179.Real property, like buildings and structural components, generally does not qualify unless it is "qualified improvement property."
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2 November 2024 | 3 replies
I have downloaded all of the other forms mentioned in the book Managing Rental Properties but can't locate the flow chart poster for the tenant screening process.
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1 November 2024 | 2 replies
It took 9 months from front to back with was too much time, but the wait was worth it.What made you interested in investing in this type of deal?
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15 October 2024 | 10 replies
Which I don't mind because I'm willing to put in the work.
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2 November 2024 | 1 reply
The paint in the kitchen had grease stains and many water marks and looked horrible.
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1 November 2024 | 6 replies
We bought a house in North Virginia in 2019 with a VA loan for $510,000 and zero down, at 2.875%.
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1 November 2024 | 4 replies
I'm particularly interested in purchasing two-bedroom, one-bath (minimum) properties that offer space and potential for adding an extra bedroom and bathroom.
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1 November 2024 | 3 replies
(to prevent excess costs) We don’t have access to WiFi in those units.