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JT Marlin Trust deed investment - when can I claim a loss?

8 November 2011 | 6 replies

I also recognize that I should consult my CPA (and I will).

Takeshi Yashima Bookkeeping for rental property

23 November 2018 | 49 replies

It also can export directly into Turbo-tax for the business and personal taxes.When I began using the software 3 years ago, I hired a Quickbooks consultant to teach me how to use it.

Val Fowler Scott Yancey/Flipping Vegas

20 September 2018 | 25 replies

You fill out this disguised consultation questionnaire for them to review and help you plan your way into financial freedom.

Account Closed First potential Deal- Need some advice

24 November 2014 | 8 replies

The LLC buys the property and you keep the LLC to do business with but sell the property from your LLC to your buyer.These are two big differences in the way the LLC operates/conducts business and would be taxed different as well so my advice to you is to consult with a good real estate attorney and a good real estate tax firm prior to making your decision.Disclaimer: I am not a licensed attorney or licensed tax professional nor do I claim to be.

Mike Purvis "legal duplex" vs. "non-legal duplex"

30 October 2019 | 14 replies

Before buying call the city to ask what that street allows for, do not ask about the specific house or you can open a can of warms.Hire also a Fire consultant that knows the bylaws in the area.If you really want to buy an illegal unit and legalize it later, then also hire an experienced architect/engineer that is used to legalize rentals.The most "friendly" area for illegal units is Downtown Toronto, there is an extreme need for apartments , if they would shut down all illegal units, there would be thousands of tenants on the street.If you still think about buying an illegal unit and keep it as is, make sure you comply with Fire cod - that is non negotiable - and have an exit strategy in case you are sooner or later shutdown by the city.If you get shutdown and cannot or want to legalize it, you will have to change doors or exits, remove kitchens, etc... etc....