Nicholas LaGatta
Help! 2 Checks in 2 Different Yrs, 1 Capital Project, 1099/1096
I gave my contractor a deposit in December and final payment in January for a large structural repair job on a property that is partially personal (I live in one room) and partially business (my LLC) as a vacation ren...
Bert Dean
Should we refi with cash out for imorovements now?
I am 72 and my wife is 71. We owe $68K on the house we live in here in Augusta, GA---a market with sustained growth from Ft. Gordon, the NSA headquarters, the Cyber Command, and the Cyber Center for Excellence. The ho...
Rashid S.
Unsold property expenses - put on personal 1040 or under business
Hi Guys,I am not looking for a CPA level advice but just looking to know the basics to vet out CPAs when i go talk to them.I started in real estate last year. first property i bought at auction with cash was under my ...
Jessica Kirkpatrick
Opportunity ZONE HELP!!!!!
Hello, I need some help understanding the new tax laws. My client wants to sell his 5+ unit for $600K and buy a house w studio for his art business with proceeds. Right now he'd have to pay $120K in capital gains (20%...
Carolina Mejia
HELOC W/ LOW CREDIT
So I am trying to do a HELOC to be able to pull equity from my current investment (only have 1). My credit is low 618 give or take- (I am working on it with credit versio- removing somethings that are bring down my cr...
Cathy Malmrose
Terminology for "Upside Potential" / "Renovations for ++$"?
Hi, I'm about to put a quad on the market that has been pulling $31k /year in NET profit but could be pulling more with a few more renovations. For the buyer I am submitting: 1. a 2020 P&L2. a list of the renova...
Corey Gregg
Heat Pump Tax Incentives for Rental Property in the Inflation Reduction Act
Hello, I own a duplex and I currently live in one side and rent out the other, although I intend to move before the end of this year when I will rent out both sides for LTRs. The air conditioner and heating system on...
Jeffrey A DeAngelis
OnLine Purchases with split IRA and outside IRA investment
Howdy, If anyone has invested with funds from a self vested IRA and funds from outside an IRA - for instance, 50/50, how do you manage online purchases and split between the two?For example. A STR purchased property a...
Krisann Mayfield
Bonus depreciation for an Air BNB?
On the most recent tax episode with Amanda and Brandon, they talked about 100% bonus depreciation which you can use with an Air BNB business. My question: my husband and I will be building a garage with an apartment o...
Ben Miller
Advice on North Carolina Rental Property
Hello Everyone,
I'm trying to figure out the best move on a rental property that is currently yielding a negative cashflow of $200.00 per month.
I bought the home (before the crash in 06') in NC when I was in the mi...