28 September 2020 | 5 replies
If yes, maybe the property is a candidate for a cost segregation analysis - This doesn't increase your deductions, it just allows you to bring forward the depreciation to the earlier years.
26 May 2022 | 7 replies
Just because you put it in service later doesn’t mean you can not deduct your expenses.
30 September 2020 | 3 replies
If they have made any damage to the house/property based on the install/later uninstall you can deduct it from their security deposit when they move out.
4 October 2020 | 8 replies
Specifically regarding Section 179 depreciation and bonus deductions.
4 October 2020 | 6 replies
First off, I’m not trying to do anything illegal I’m just asking if this is a plausible scenario.Also, I believe my title should read dependents instead of deductions.
2 October 2020 | 3 replies
It's a 1070 sq.ft. 2-story home (photos attached).All utilities are functional and city municipal: electric, water, sewer, and gas heat.Here's my cost analysis / scope of work: https://docs.google.com/spread...Acquisition: -$33kRehab: -$44.8kClosing: -$1.4kHolding: -$4.4kSale: -$10.5kTotal Cost: -$94kAll-In Cash Cost: -$83.6k (does not include sale costs deducted from proceeds)ARV: $115kProfit: $21kAll-In Cash Cost / ARV: 72.3% (just above the 70% rule, but I'm also living here)My first first goal is to find a new place to live.
3 October 2020 | 0 replies
Considering mom pays interest to the bank and children pay the same amount in interest to mom, who gets to deduct their interest payments?
1 November 2020 | 6 replies
If they've been a respectful tenant, you could also deduct the reduction from their security deposit which is permissible in California:"California Civil Code Section 1950.5 only permits a landlord to use a tenant's security deposit to pay for the costs of: (1) unpaid rent; (2) cleaning the rental unit after you vacate (but only to what it was before you moved in); (3) repairing damage caused by the tenant that goes beyond normal wear and tear; and (4) ...
4 October 2020 | 6 replies
Hire someone and deduct it from the security deposit if your tenant leaves a mess behind.
5 October 2020 | 4 replies
We typically agree to a profit split after a reasonable cost of capital is deducted.