Mark Forest
Sewer line fix capitalize or expense
5 March 2018 | 12 replies
According to my research a capital asset is:The IRS indicates what constitutes a real property capital improvement as follows:Fixing a defect or design flawCreating an addition, physical enlargement or expansionCreating an increase in capacity, productivity or efficiencyRebuilding property after the end of its economic useful lifeReplacing a major component or structural part of the propertyAdapting property to a new or different useA repair is as follows:Improvements that "keep" property in efficient operating conditionRestores the property to its previous conditionProtects the underlying property through routine maintenanceIncidental Repair to propertyReference is http://www.dbbllc.com/newsletters/focus/mar2012/irs-clarifies-capital-improvement-vs-repair-expenseNext time I will rent a small excavator, dig my own hole, and put on a Fernco.
Michelle Felux
Is it legal to not rent to Section 8 in San Antonio?
12 March 2018 | 13 replies
Takes 10 minutes.And through proper tenant screening, quarterly inspections, providing a superior product in a "good" area where people actually want to live, and tenant's knowing their voucher is in jeopardy if they damage my property or create conflict - I have little to no problems from my Section 8 tenants who hardly ever move, creating low vacancy expense for me.But getting back to the original question in the post, participation in the program is voluntary unless something different has been enacted for a specific state / locality - so check with the Housing Authority and/or knowledgeable Eviction Attorney in your area.
Eva Morel
Real Estate CPA in Vermont
15 October 2021 | 6 replies
He has reasonable rates and has given me great advice without trying to sell me products.
Mark Futalan
Keyless entry WiFi thermostat & security cams for STR
20 March 2018 | 7 replies
I plan on handling everything remotely and wanted to get some input on products you guys might use such as keyless entry locks, security cams and wireless thermostats etc.Any suggestions would be wonderful!
Cassidy Burns
Overwhelmed with Bookkeeping. How to get organized/Back on Track
7 April 2018 | 17 replies
It took me only a few hours to do our married 1040 for 2017 with W-2, investments, business, deductions, etc.My spreadsheet also has worksheets for managing by balance sheet and income statement as well as inventory, business mileage, products, etc.
Avery Goodman
Tax implications of failed 1031
10 April 2018 | 7 replies
There's no statutory holding period so I was guessing that his intent had been to hold for productive use and something happened to change that intent.
Rob Drum
Cozy Credit and Background Checks?
27 January 2021 | 9 replies
Even with these issues I've been really impressed with their product, and recommended it to other landlords.I want Cozy to get paid because they provide soo much value to landlords.
Daniel Rutledge
Can I dedect interest from a hard money loan?
6 May 2018 | 5 replies
You are required to capitalize all of the costs associated with the property (including property taxes and loan interest- during the production period).
Colten Thiel
HML plus conventional financing?
2 May 2018 | 15 replies
I have never defaulted and have an excellent FICO worthy of obtaining the best rates, for virtually any loan product.
Austin V.
Good Contractors in AZ
16 July 2018 | 6 replies
I do not have a set cost per square foot, as every job is different depending on the client, the area, condition of the house, and the overall product you're wanting to deliver to market.