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6 October 2018 | 2 replies
I did some research and couldn't find anything I think because the deduction is immaterial IRS has not looked into it, YET.
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10 October 2018 | 12 replies
IRS rules are very clear: you are not allowed to provide any services to your IRA nor receive any personal benefit from the IRA.
27 December 2021 | 6 replies
Price one...got to be cheaper than installing one in the wall and it can be moved ir removed by the new owners.
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28 November 2018 | 7 replies
I am a strong believer in House Hopping and House Hacking if you can.
7 October 2018 | 11 replies
@Eamonn McElroy, i apologize, i am not arguing with you, i ask my own Accountant a million questions some times, sometimes he is happy i do and sometimes i think he wants to kill me.If the use of the asset is changed ( sold or use change, as in this case) , i believe either way the IRS looks at as disposed of:1) wouldn't the depreciation recapture tax be due at the change of use?
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10 October 2018 | 6 replies
Per the IRS: "Use Schedule C (Form 1040) to report income or (loss) from a business you operated or a profession you practiced as a sole proprietor.
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18 October 2018 | 7 replies
For depreciation I would suggest studying the IRS guides or consulting a CPA for the calculations.
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10 October 2018 | 5 replies
IRS doesn't care about loans (with rare exemptions) The only difference between the two is you get to deduct the interest on the loan from your tax return vs buying cash you don't.If you buy cash, of course, you don't have to pay a loan or pay interest, but this has nothing to do with taxes.
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16 October 2018 | 29 replies
@Ashley Wolfe hop on the phone with me for an hour I’ll teach you everything you need to know.
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9 October 2018 | 3 replies
Many LLCs don't use a comma; and in fact, the IRS omits most/all punctuation when it assigns your EIN.