Rene Bee
Contractor wants to be paid in cash
Hi Everyone,My GC want to be paid in cash. Its a gut rehab which will be over $100k. I will not be paying it all upfront. I am not concerned about him disappearing or doing a poor job as I have known him many year...
Joel Oh
Write off luxury car under STRs?
Hey guys, thinking about purchasing a car this year and wondering if it is possible to write off a luxury car for their STR expenses.My tax advisor said that I will need to prove this car was used for the business.I k...
Nancy Bachety
In Search Of Template for logging hours and Recording Keeping
It sounds so basic, but I can't find one. I'll make one up however I'm not trying to reinvent a wheel. If someone uses one or can recommend one or can even upload a template in the templates section, it would be aweso...
Konrad R.
Does an offer satisfy the identification requirement?
Does an offer satisfy the identification requirement for the 45 day timeline?What if the offer was not accepted and the property goes back on the market? If a second attempt was made after the 45 day timeline, would i...
Bruce D. Kowal
Material Participation for Real Estate Professionals
1] Lots of questions about how to qualify as a Real Estate Professional. The absolute best resource for this are the IRS Audit Techniques Guide for Passive Activities. In particular Chapters 2 and 4. This is writt...
Julio Gonzalez
New IRS Guidelines for 179D Deductions!
The IRS released new guidelines and best practices for their internal review/audit process of 179D tax deduction claims. If you have claimed this deduction or plan to in the future, ensure that your CPA or tax special...
Brenda Lee
1099-K only issued to one owner under the rental home
My business partner and I currently use Avail to manage our rental home. The account is under her name and SSN. They mentioned they will be issuing a 1099-k after the end of the year. Since the account is under her S...
Miguel Peral
ALGARVE - Best beaches, life quality and clima in Europe!
2015 is starting with a new project!We have started to evaluate and develop a project in the city of Lagos - Algarve - Portugal. The project is based on 3 major ideas: quality, luxury and exclusivity. This post want's...
Max Emory
Bookkeeper / Real Estate Investor: Business Expenses
Unfortunately, the burden of proving and qualifying business transactions for the IRS is on us as the investors and small business owners. Most people think if the IRS can’t prove something wasn’t a business expense i...
Aaron Millis
No capital gains proof?
Hi BP,So I’ve widely heard around here that if you live in a house for 2 of the last 5 years that you don’t have to pay taxes on your gains if you’re single up to $250K. I’m contemplating selling a home that I lived i...