Thanks to the Cost Segregation Study, the property investors accelerated the depreciation that the first year depreciation was approximately $182,900.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

You may find buying what might appear to be a lesser cash on cash return rental asset that's held long enough to take advantage of more efficient long term capital gains tax treatment, while paired with the benefits of the depreciation might yield a better after tax return than flipping a home.

(we once paid $1800 to a big name plumber in town to replace 6in of plastic drainpipe under a stand alone tub). 3) We need better understanding of the legal structure (LLC) that we should have in place for our property, and also a tax advisor (CPA) to help with understanding deductions.

Can I deduct the closing cost in my rental property taxes for 2023.

But selling today might mean you get taxed on 100% of your Cap Gains.

Short term capital gains is your ordinary income tax rate and long-term capital gains where you hold the property a year or longer is considered long-term capital gains is in as taxed a lower rate.  

However, the tax basis will be a low $770,000.

At least I will build equity and have some tax advantages, or even pay a lower price as a result of the high interest rates.

Just trying to see best way to play the tax game.

In California more then 5 fruit trees is considered a Orchard for tax purposes, I can get the Orchard Tax exemption for first 4 years after planting. has any one tried this with multifamily properties?