Daniel Bryant
LLC Articles of Organization re-allocation question
My partner and I formed an LLC referencing a commercial property that we own together in NY, we used an attorney to draft the LLC partnership together at a 49/51 split. We now are looking to change that to a 50/50 spl...
Mason Kimball
Allocating Indirect Expense Deductions Btwn Multiple Properties
Question for all the tax accountants more experienced in real estate tax than myself.
I just read Amanda Han and Matt MacFarland's book on tax strategies. Even as a hopefully soon to be CPA myself (just waiting for m...
Bob Flynn
tax allocation to land vs. apt buildings
I'm a member of a partnership that purchased several four-plexes last year. I have reviewed my CPAs draft tax return and they have allocated 25% of our purchase price to land value and 75% to the buildings. Therefor...
Brian Volland
Profit and Income Allocation w/ VA Loan
To start, I'm assuming a 4plex purchase price of $250,000, cash flow of $1k/month, an additional $1k/mo from personal income, and ~$14k starting funds. This would be the first purchase and bought using a VA loan @ 3.7...
Anthony Maffesoli
Help! Understanding of Co-ownership payment allocation
Hey BP community!
First post here. I currently co-own 2 different properties. One is my primary which I live in with my girlfriend - I'll call this property A. The other I co-own with a good friend - I'll call this p...
Daniel Bolinger
W/S/G Cost Allocation to Tenants
Under Contract for a duplex Should I always pick up the cost of the water, sewage, and garbage or is it common to hand off some of these costs to the tenant? Or just add it to the cost of the rent.
John Watson
Allocating common deductions when you own multiple properties
When I have a common expense such as buying a tool (i.e. a lawn mover) that I use for multiple properties, how do I allocate the deductible expense to the multiple properties I own? Based on net rental income?
Cynthia DeLuca
Accounting help to allocated expenses to each property-
I am looking for ideas on how you allocate different expenses between different properties. I am property managing my properties and currently have 31 of them, so I'm not getting a cash flow report from a property man...
Matthew Harding
How to allocate my cash to get started
Hi all - looking to get started with long term rentals. I am thinking of starting with 1 single family home. I have about $150k cash to get started. Not sure if I should purchase a lower value home, finance a nicer ...
James Farrel
Allocation of Cost of COA Master Insurance Policy
I own some units in a condominium that includes both apartments in a mid-rise tower and 3 story townhouses. Assuming an equal number of apartments and townhouses, would an insurance company typically charge more fo...