Scenario:1 commercial prop owned by 5 peopleGoal: sell it to me but they each want to split proceeds AND use 1031 to go buy individual props.problem: not doing a single like-kind exchange it looks like they can't spli...

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...

Hello all,

I am thinking of putting my current rental on the market, the mortgage is on my name but I added my parents and sister on the deed. My thought process being, God forbid something happens to me they can av...

Is the $3600 I just spent to fix a broken sewer pipe a repair to expense all this year or a capital outlay to be depreciated?  This cost includes snaking, excavating pipe, and repairs to pipe. I would think it's an ex...

To me that is real money...if we pay property taxes early in November we save money ...then a little less in December ...January etc...till you are paying the full amount with no savings in March ...not sure why anyon...

Did you know that you can rent out your home for up to 14 days per year without having to report the rental income on your tax return? Section 280A(g) of the Internal Revenue Code is also known as the Augusta Rule. It...

I'm a little foggy on when you must, or should, use Certified Mail with return receipt to correspond with a taxpayer.At present, my understanding is that you must use it when you hold a Certificate and wish to start t...

The IRS released their 2022 list of “Dirty Dozen” tax scams for taxpayers to watch out for. There are many schemes out there that are advertised to create a large amount of tax savings. We are seeing more and more of ...

My client sold a commercial property from an llc in which he is the sole owner and has parked it into a 1031 exchange. He is looking to purchase under a new llc which has him and a partner from another property on it....

I've asked around in my real estate circles and nobody seems to have a definitive answer (including my CPA or the 1031 intermediary).  I'm currently selling 2 properties owned by 2 different LLC's (I'm the sole owner ...