Joe Lijoi
Tax treatment for LLC with no income but expenses?
Hi all! My current full rehab duplex project is owned by an LLC which owns nothing else or has not generated income yet. My question is can I use the expenses incurred on the project as deductions even though there h...
Joe Lijoi
Tax treatment of LLC with no income but expenses
Hi all!
My current full rehab duplex project is owned by an LLC which owns nothing else or has not generated income yet. My question is can I use the expenses incurred on the project as deductions even though there ...
Jeff Cliff
Termite, wood boring beetle, dry rot, fungus, mold treatment
HelloThe house I am in escrow for needs significant work for rehab. One of them is to take care of termites (subterranean & drywood), wood boring beetles & fungus, possibly mold too.Likely the house would need...
Steven Scheibe
Tax treatment for demolition of building for investment purposes
Hi,I am looking for some tax guidance on my first ground up construction. In this scenario, say I acquired the property for $1M and the city tax assessor has it documented that my land is worth 900k and the building i...
Joe Taylor
Treatment of Remodel Costs After Leased on New Acquisition
Good morning all... I purchased a residential property for a long term corporate client in November 2017. The client asked for some remodel work to be done and expects to move in on March 1 2018. It's pretty signifi...
Art P.
Mortgage Interest deduction tax treatment on mixed use assets
Hello all tax professionals on BP, I would like to reach out to the knowledge base to see if any of you have dealt with a similar situation as addressed below and how to properly handle it. Thank you in advance!Topics...
Will F.
Termites? Occupied 4 unit? Treatment -orange oil- tenting - DIY??
Anyone have recommendations for treatment of termites. I'm in Southern California- have wood frame 4 unit occupied building. 2 stories. There's several places on wood trim, wood frame, doors, windows, with holes and ...
Natasha Sykes
Do I need to inform new tenants of a recent termite issue?
Hi I own a multifamily property and was just notified of termite activity in one of my units. I am in the process of getting the issue researched and corrected. I have another tenant moving in this week. Do I need t...
Nicholas Sheridan, Jr.
Termite Control - Outrageous Quotes
I was outraged to see some of the quotes I heard back to do a termite/carpenter ant treatment just on the exterior of a house. I did some googling and came across a product that is relatively inexpensive compared to t...
Lei L.
Is this done by termites?
I opened a wall of an old house and found some wood in terrible shape. There is no sign before ripping off the drywalls. I was told by a contractor there that it's termite. Never dealt with this thing.
Is this done b...