William C.
Cost seg study, but also had major repairs. Best way to handle for taxes?
We own a SFH long-term rental property in Nevada that was placed into service in 2023. We have run a cost seg study on the property and qualify for 80% bonus depreciation. In 2023 we also had a major repair take place...
Sam Leon
IRS Safe Harbor Rules questions
OK, I have done a bunch of reading and still finds some of the new rules confusing. So I have a few specific questions on these new safe harbor rules.There are some very helpful existing blogs and threads covering th...
Brady Ascheman
Writing off expenses on a property bought in December
Hi everyone, my partner and I recently bought a lake cabin in the beginning of December and have started rehab on the property. We have a lot of expenses in December but have not had a guest stay at the cabin yet. Sin...
Lawrence Taylor
credit repair services good or not
I have decent credit but wanted to gage some opinions on credit repair services. Better credit can't hurt when you are approaching your first purchase. but i wanted to know the pros and cons and just some insight from...
David Smith
home improvement contractor
From the state website, it only needs registration and business insurance for anyone to be a contractor?
No exam or skill tests?
Very easy to obtain the license, huh? Could be good to a handyman or property ma...
Douglas Stewart
Depreciation Schedule Expiring
My father in law owns a 176 unit building in Los Angeles. It was built in 1991 meaning the depreciation schedule is beginning to expire. He is worried about losing the tax benefits. How big of a concern is this? W...
Rick Sollman
No rental agreement, far out property, afraid to lose tenant
We have a rental property located a good 40 minutes from us, out in the sticks. Our tenant has been with us for many years, but has managed to miss well over a year's worth of rent payments over time, and is yet again...
Anthony Wright
Rehab on a distressed rental / Tax
In July I purchased another rental in the East Sugar House neighborhood in SLC UT. The home had not been renovated/updated since the 1950's. I gutted the home, redid all of the electrical, plumbing, bathrooms, kitchen...
Tom R.
What is tax deductible when buying investment properties?
I purchased my first buy and hold in October. I till have some documentation to gather before I make an appointment with my tax preparer but I am curious exactly what is tax deductible for this property.Im going to a...
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%...