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24 April 2017 | 5 replies
write up a document of each 5yr item (floor treatments, light fixtures, etc ) and estimate the cost of each, sum the total and deduct from the initial purchase price used for the 27.5 yr and add the 5yr in with the special depreciation allowance the IRS gives you.
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23 January 2013 | 11 replies
Perhaps our resident CPA, Steven Hamilton II will chime in.Unless different tax treatment is elected for the LLC, its a partnership.
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27 June 2017 | 10 replies
It sounds like this has actually been a rental property, so it would qualify for 1031 Exchange treatment should you decide to sell and reinvest in another rental property.
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3 March 2013 | 3 replies
This is a great website to build a visual timeline... you can add pictures and future dates to meet your current plan.
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18 May 2023 | 28 replies
The milestone inspection consists of two phases: a visual examination of habitable and nonhabitable areas of the building in phase one and, if needed, a phase two inspection that may involve destructive or nondestructive testing to fully assess areas of structural distress.
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10 June 2020 | 7 replies
To qualify for treatment as a first-time homebuyer distribution, the distribution must meet all the following requirements.It must be used to pay qualified acquisition costs (defined later) before the close of the 120th day after the day you received it.It must be used to pay qualified acquisition costs for the main home of a first-time homebuyer (defined later) who is any of the following.Yourself.Your spouse.Your or your spouse's child.Your or your spouse's grandchild.Your or your spouse's parent or other ancestor.When added to all your prior qualified first-time homebuyer distributions, if any, total qualifying distributions cannot be more than $10,000.
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15 October 2015 | 0 replies
One of the best ways to bring back a high level of energy and motivation is to VISUALIZE.
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30 June 2016 | 3 replies
I was hoping for some general tax guidance (US taxes). Of course I'll consult a professional, but I'd like to be sure that at such time I'm asking the right questions. I seeking to understand how to (or what options...
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25 December 2014 | 2 replies
Very effective and quick, one treatment got all the bed bugs.
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25 May 2016 | 2 replies
I can't tell visually but I don't know what else it could be.