Andreas W.
Water heater, a personal property and therefore de minimis?
Can I deduct a new water heater after the old one stopped working using the de minimis safe harbor? I have not found any reference for that.
Kristin Hopkins
Contractors License Required?
Hey there- real estate investor here from Virginia. I have an LLC that I use to put properties under contract, close on them, sub-contract work needed, and resell. All in the LLC name. The county I live in advised I’m...
Julio Gonzalez
Important Considerations Before Demolition or Renovation
When you are demoing or renovating a building where you tear out HVAC units, lighting, and other components, these assets are considered retired or abandoned from the building. Therefore, the book value of these asset...
Jeff Ronningen
Tax Treatment: Capital vs OpEx
Hello BPers, wondering what the consensus is out there for categorizing capital vs operating for appliances? Window A/C units? Painting? Refinishing floors? Carpet? I'm leaning to treating it all as expenses.
Matt Mach
Sales Tax exemption on flips?
Ok, I've gotten one flip under my belt. We closed in 2017, I've already talked to a CPA regarding taxes and he suggested I roll the income and expenses into the same tax year. I've been reading quite a bit about how I...
Chuck Schmidt
Cost Segregation for SFR, and does Bonus Depreciation apply?
Looking at some SFR homes to purchase, in the $140K range ( 1 story, brick ranch, garage, 3br). Providing all the usual calculations work out ( rent, expenses, management) I have a few more questions on how to help my...
Mary Joe
FLORIDA out of state investor need to file Florida return?
Hello, Florida is NOT my home state, I have a rental property in FL, do I need to file FL state return? Turbox Tax prompts me to start a FLORIDA return but I am not sure if this is really necessary for out of state...
Yoni R.
Miami property tax
I am trying to analyze a deal in Hollywood, FL and wanted to figure into my spreadsheet the yearly taxes. I did some research and I see that there is not only "property taxes" but also "tangible personal property tax"...
Julio Gonzalez
Tax Planning Strategies for Self-Storage
There has been an increasing demand in recent years for self-storage units to store business items and personal belongings. This demand has attracted real estate investors as it can be a stable and lucrative sector of...
Manuel A.
BUY GOLD!
Well, if I could I would, but I want to buy my first property before I buy any gold as my money supplies are not that big... but, I wanted to share it with everyone else that I believe you should buy gold very soon. N...