John Hole
De Minimis Safe Harbor or Safe Harbor for Small Taxpayers
I just replaced a refrigerator in my rental last year. The cost of the fridge was more than the $2500 ( $2499 + tax + shipping). Assuming that it is the only expense I have for my rental, can I expense the cost of t...
John Hole
De Minimis Safe Harbor and Safe Harbor for small taxpayers
I understand that the De Minimis Safe Harbor is for real properties that are less then $2500 each and Safe Harbor for small taxpayers is for improvements that are no more than 2% of the cost basic or $10K whichever is...
Cynthia Dockens
Advice on Self Directed 401K/IRA
Hello, I’m new to the forum and looking for a great company that can assist in converting my 401K into a checkbook controlled Self Directed IRA? Any leads and or advice?
Stanley Nguyen
Tax on private lending fund
I have been lending funds to a close friend of mine for a rate of 8%. I got a 1099-INT from him to file my tax, which I paid a big portion out of 8% (effectively around 6% after paying the gov). Is there a better wa...
Kyle Koppenheffer
Using a Self-Directed IRA Account to Invest in Real Estate
Hey BP! I've recently switched jobs which has given my previous IRA account the ability to transfer banks. While researching REI, I've come across the idea of using a self-directed IRA account to invest in real estate...
Genny Li
Does Stessa have a de minimis safe harbor toggle for capex????
It's doing my cashflow wrong on capex. I don't plan on depreciating a CURTAIN ROD, for heaven's sake. Is there a way to tell it it's going under the de minimis rule????
Pablo Madrid
de minimis safe harbor expense or bonus depreciation, tax on sale
I have some expenses which could go either way on de minimis safe harbor or to capitalize and depreciate to deduct. Assume i bought a rental house for $100,000 on Jan 1. Land is worth $10,000 so depreciation is $3,272...
Account Closed
I disagree with my accountant on interpretation of the de minimis
I dove into the IRS code today, and I think I have an airtight argument that the de minimis rule applies not only to personal property like refrigerators and computers, but also to materials and supplies used in impro...
Craig Poskus
What to do when you fail the de minimis safe harbor election test
Good morning everyone!I think I have a unique situation in that I do not qualify for the de minimis safe harbor election test. Now the cost of each of my items is below $2,500, however I don't believe I meet the othe...
Lane Donatelli
Does anyone have a suggestion for a good self directed IRA?
I have money in an E*Trade IRA and want to transfer it to a self directed IRA for a down payment on a rental SFR. Any suggestions on best way to go? Thanks!