Brandon Brown
Replacing boiler and old forced air AC with Heat Pump in Chicago
My wife and I own a two-flat in Chicago, and we're planning to upgrade our heating system. Currently, we have boilers and radiators that we want to remove to create space in the basement for a future conversion into a...
Hong Y.
What to do if Restaurant Tenant wants to terminate a Lease Early?
The restaurant owner of my New Jersey commercial space is looking to terminate his lease early since business isn't doing well and isn't able to find someone to purchase his business. There is currently no exit clause...
Robert Glass
Hello from Charleston, SC
Hello all! I'm a new investor from the Charleston, SC area. I somewhat stumbled into being a landlord by deciding to rent out my previous house as opposed to selling it. Worked out well so far and I'll hopefully conti...
Frank Chen
HVAC Depreciable Life
What is the depreciable life for a HVAC unit within a commercial building? Is it considered equipment depreciated for 7 years or qualified improvement property depreciated at 15 years? I'm not seeing a clear answer un...
Liam OSullivan
Three plex with a pizza store first floor
Hi guys ,So this is a random one ..just looking for input and some ideas , i found a commercial property with three rental units , the first floor is a pizza store no longer being used , but all the equipment is still...
Robert Churchill
fully equiped restaurant value determination
looking at a 3 unit commercial property of which 2 are restaurant spaces all 3 are rented on triple net leases.
I can go through the deal if needed but my question is on determining and factoring the value of the fix...
Account Closed
Avoiding Property Gains Tax
Hello everyone. We are in the process of developing a few commercial acres. We have two buildings going up that will be offered for sale or lease. This is not our main business. If we were to find a buyer for the prop...
Andy W.
Expenses not specific to any property
I have two rental properties (1 single family + 1 two-unit), but this is the first year I've encountered tax season as an RPO. I have a CPA I intend to have file my taxes, but it sounds like they're not expecting me t...
Scott French
Assets placed in service and disposed of in the same year
We bought a used refrigerator and it died 2 months later. I learned my lesson, i wont ever do that again.
What do I do with an asset that was placed in service and then disposed of with no salvage value in th...
Melanie Baldridge
Understanding the IRS Section 179 Election
Understanding the IRS Section 179 Election to Expense Depreciable Assets is crucial to making the most of your tax strategy.
This provision allows taxpayers to expense certain qualifying assets upfront instead of dep...