Joe Schultz
Any tax deduction for new vehicle, my situation?
27 October 2022 | 2 replies
My income is mostly from rental property (single family) but I still do some residential construction (mostly remodeling).my pickup (07 Tundra has a transmission issue - for now just a check engine light) will need replaced within a year or maybe two. 1) Construction Co.Would make the most sense for a serious deduction but since I've focused more on rental property my construction company doesn't gross enough to make the purchase of a new vehicle a viable one, probably get audited and then not sure what they would do.2) Rental property wouldn't make sense either because it would be an administrative nightmare ( CPA says) to divide every expense up per each home.If I change to having them all owned by a single LLC then if someone won a lawsuit against me, I could lose it all.Deductions for now since I use my truck for Construction, Rentals & Personal is based on mileage or I just get the standard mileage deduction (7k).Just trying to be wise before I just do something.Any thoughts on this would be appreciated.Thank you, Joe
Joe Livsey
House Hack - Tax Write-Off for Tools/Lawn care??
25 June 2020 | 4 replies
Typically you can calculate this by dividing your rental square footage by total square footage of both sides - and that's your ratio.
Benjamine Morrison
Dividing investment property equity if one partner provides all of the cash
10 December 2023 | 0 replies
How should we divide the equity?
Jerry A.
Sub Metering Solutions
17 June 2022 | 4 replies
If I divide this bill by four units, each tenant would pay $46.03.
Waylon Smith
STR Cash Flow Analysis First Time - What do you think?
1 February 2023 | 10 replies
I factored in roof replacement (once), painting (few times), HVAC (once), flooring (once), etc. then divided that total ($35K) across a 20 year time period.
Matthew Rosebaugh
Splitting a Multi-Family into Condos - Columbus, OH
31 May 2022 | 11 replies
I might know the homeowner ;) Fortunately, the drywallers c. 1950 "coped" the drywall around the original oak header/capitol over the door in the wall they built to divide.
Kaaren Hall
Financing Self-Directed IRAs and Solo 401ks in Real Estate Investments
11 December 2023 | 0 replies
To calculate this ratio, divide the Net Operating Income (after taxes, insurance, HOA fees, management costs, etc.) by the Principal and Interest payment on the loan.
Trent V.
weighing property management
10 January 2021 | 7 replies
We use a YTD paystub and last year’s W-2(s) to calculate income several different ways:Hourly or salary income calculated to a monthly amountYTD income divided by number of YTD monthsYTD + W-2(s) income divided by the corresponding number of monthsIf these numbers vary too much, then we investigate and require an acceptable Letter of Explanation.Employment StabilityUnless an applicant has exceptional credit, we strive to determine their stability of employment to make sure they’ll always be able to pay the rent on time.
Parris Edwards
Self storage Facility
24 January 2019 | 6 replies
How you find supply of an area - divide the population in a 5 mile radius around the property by the Square foot per person, you can use 7 Sq.
James E Fraley Jr
Bank Statement Loans
11 May 2023 | 13 replies
Then that amount is typically divided by 12 to get monthly income.