Larry Flanagan
How much should I be paying for tax returns?
I have an S-corp that rehabs and I own a few rental properties personally. I turn over my Quickbooks for the S-corp and a spreadsheet for the personal stuff. Its pretty much fill in the blanks for my tax returns. W...
Ali Boolani
pre-foreclosure leads
Ive started this project where Im helping people stay in their homes, rentals or personal (if you have any questions about that feel free to contact me) as well as help them with their adjustable rate mortgages. I was...
Julio Gonzalez
How to Choose a Cost Segregation Company
Cost segregation has been a very popular tax strategy for real estate owners as it can provide significant tax savings. A cost segregation study is a strategic tax planning tool that separates the assets that have a s...
Michael Plaks
EXPLAINED: IRS audit "insurance" - no more fear of an audit?
This is a follow-up to my recent post about IRA audit myths. In this long sequel, I will discuss hiring audit and "IRS audit insurance."
1. DIY IRS audits.
Can you defend yourself against an IRS audit without hired ...
Mei Li
All window AC unit property: winterization question
Dear fellow property owners, I would like to ask some question regarding winterizing your property:I’ve got a Ocean City, MD condo with only wall/window AC units. Heating during winter is completely dependent on elect...
Steve Horton
Rent and taxes
Hello,
I'm not an agent or anything, just a regular person with no knowledge of real estate. I'll describe the situation and hope for answers.
Let's say "Joe" moved out of his home for a job in another city. He re...
Julio Gonzalez
What is Considered a Quality Cost Segregation Study?
As most of you know, as part of the IRA, the IRS was allocated significant funds to hire new employees. With that comes an increased audit risk. One of the things that IRS auditors look for when auditing a cost segreg...
Colin W.
Home Office Deduction - Sch. E or Sch C for Rental Property
For my rental properties I maintain a home office. Should this deduction be taken on Schedule E along with my other rental expenses? I ask because Turbo Tax lists the home office deduction on Schedule C.
Jonatan Nir
Due diligence for first time multi family buyer
Hello BP members!
So far I purchased single family homes and I want to buy my first multi family property.
I am looking to buy 20-30 units.
I would like to know what are the due diligence checks I need to for mult...
James Parla
Cost Segregation Price?
Hey all. I've been looking online but cant seem to find a great answer. I'm trying to find a good estimate of what I can expect to pay for a cost segregation study on a single family home in Connecticut with a purchas...