Marc D.
Do you apply for a refund of sales taxes?
I'm paying sales taxes for my supplies when I flip a house. The IRS considers my house as inventory since I am a dealer. If this is inventory, I shouldn't have to pay state sales taxes for the supplies -- but I don't ...
Michael Plaks
URGENT: brand new IRS pilot form 4119!
Folks, this is EXTREMELY urgent and not yet picked up by mainstream news sources:The IRS announced today (4/1/2019) a brand new pilot program to pay interest on qualified income tax refunds. The goal is apparently to ...
Kaizen B.
Failed to claim depreciation on rental
I was unaware that I would have to pay taxes on depreciation when I sell my rental property whether I claimed it or not...which I haven't done for the two years I have owned it. So now I'm trying to figure out how to ...
Tetiana Muraviova
Collection on judgment
Hi ,I am evicting tenant in one of my properties in California. I have a question if anyone uses other ways than salary garnishment and attorney/ collection agency to collect on judgment ? Can I seize tenant car ? Can...
Kyle Thompson
Cost Seg Questions
Nooby here. I'm trying to under stand Cost Segregation better. I have two questions. 1)I was reading an article that gave the following example:
"John Doe has $200k of taxable income on his W2 and buys an $800k 6-uni...
Josh Smith
Schedule E (Passive losses) -> 1040 (personal income)?
Hi
I recently had my 2022 taxes prepared (not yet filed) from a firm and I noticed that they took line 26 of Schedule E “Total rental real estate and royalty income or (loss)”, which is say -$5,000 (notice the minus/...
Dawn Anastasi
Strangest tenant request?
What has been the strangest request you've received from a tenant? Luckily, I haven't received that many; I think the strangest one so far was from a tenant who asked if she could paint the walls in the basement BLAC...
Austin Sharp
Depreciation: Real Estate Profesionals
Hello,
I am a real estate investor, real estate professional and a CCIM in Amarillo, TX. I took bonus depreciation through a cost seg study on the properties i bought, and generated a paper loss of ($370,000) M...
Karl McGarvey
Best Way to make a Tax Refund work for Me!
First time investors here! In preparation for applying for loans and financing, I am trying to work through how to best apply my tax refund to work for me. Basically I have narrowed down to, pay down our only vehicle ...
Jack Zhuang
Should I give seller a property tax refund after closing?
I just closed on a SFH purchase last month in TX and I received an email from the seller's agent requesting a refund from me because the seller over estimated the property tax and has over paid during closing.Has anyo...