Calil Clark
determining appreciation for neighborhoods?
Hi, BP!I was wondering how investors determine appreciation (or depreciation for that matter) for a specific neighborhood or city year over year?Example:- In 2015, median sales price for a specific neighborhood is $14...
Thomas Watson
Withholding Requirements for sales of property by Nonresidents
Is there a way to avoid withholding requirements when selling property in Maryland? On the sale of an investor property for 32K I will have to pay almost $2500 in withholdings.Withholding Requirements for Sales of Rea...
Mark Mayton
Sale Tax and Use Tax on Rental Property
Hay Everyone!
I run into a little problem. I set up LLC in Virginia for my consulting business. I'm also using the LLC for my rental property which is In Maryland. And now I have to pay sale and use tax but don't r...
Tanya Patience
Strategy question: Depreciate or Expense?
Hi! I've searched around a ton to find a simple answer to this to no avail. Maybe because it's been hard to wade through the flood of information on depreciation and expenses.I wanted to know the strategy behind wheth...
Julio Gonzalez
Example of Bonus Depreciation
In my previous post, I talked about the different property classifications to help separate real property from personal property. Identifying your personal property helps you determine the portion of your building tha...
Jeff J.
section 179 depreciation and hot water heaters?
Can I use 179 depreciation (or Bonus depreciation?) in the new tax law to write off a hot water heater in one year? Or do I still need to depreciate it over 27.5 years?ThanksJeff
Steven Hamilton II
$500 safe harbor increased to $2,500 for taxpayers
Good news everyone, the $500 de minimis safe harbor limit was increased to $2,500 for taxpayers who place property in service, that are NOT required to produce an audited financial statement(applicable finance stateme...
Account Closed
I disagree with my accountant on interpretation of the de minimis
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...
Jaago Viitkin
Bookkeeping / CPA question
I opened an LLC in New Jersey.This LLC rented a multi-family property and is subleasing the house to regular tenants.The LLC needs to make renovations in the house and my question is how to work with sales tax??For ex...
David Miller
Ohio Sales and Use Tax on Renovations
I have a question of Sales and Use Tax in Ohio. I just bought a property and it needs a bit of work before I can rent it out. The scope covers the following:
PaintNew WindowsRepair to garage roofOutlet CoversReglaz...