Marc Cormier
Who Gets the Tax Credit on “Subject To” Deals?
Tax time is quickly approaching, and that means an uptick in the questions about who is entitled to get the tax credit for "Subject To" deals. As David M. Hasson CPA, PFS of Seckendorf Hasson & Reilly CPA's, LLC n...
Stephen Dickey
Desperate need of some 1031 Tax Exchange Ideas
Hello!My business had a recent shift of direction and strategy for our company, and it will involve us selling all four single family properties we own. I am wanting to transition into multifamily, and doing so will a...
Angel Rosado
401k Loan vs self directed IRA
Thinking about some creative financing that would be most beneficial to begin investing. I can borrow 10k through a 401k loan @3.75% payable back over 5 years or use money that I have in an IRA and roll it into a se...
Thomas Bass
Buying a commercial property with multiple tenants.
I am looking at buying a large commercial property 20k sqft building with 2 retail spots attached and a studio apartment attached as well. My question is for taxes and insurance. If I buy the property and rent out eac...
Braath Waate
Assigning 1031 basis in a subdivided property used as a home
25 years ago I bought an income producing farm with land and a house. I used a 1031 exchange from another business property to pay for it partially. I lived in the house.Skip ahead to today. I subdivided the house ...
Blake Davis
Does this rental make sense?
Hi all! I'm considering renting my current primary residence when we "upgrade" and buy something nicer in a few years. I'm trying to understand the levers and drivers that make a property a good rental property, and I...
Maximus Decimus
Advice on Potential 5 Unit Deal - Does it make sense?
I am looking at a 5 unit townhome building (each unit has been separated in condos, each unit pays their own utilities). Each unit is 3 bed/2.5 bath and has a attached 2 car garage. Building was built in 1999...
Michael Wentzel
tracking expenses for each property vs portfolio?
Hello everyone,If you have a portfolio of single-family properties, do you always have to track the income and expenses by property?I'm pulling together my numbers for my partnership tax return and it is a pain. We ha...
Craig Poskus
Cost Segregation for Capital Improvements in 2017
Hi BP Folks!My search skills must be weak and I apologize in advance for not being able to locate the answer to my question. I am trying to find out what capital improvements go in which bucket for cost segregation d...
Evan Barney
Section 179 Expense Election - Immediate deduction of assets
Hi everyone, I am currently taking a Tax Analysis class at my university and I came across Section 179 in the tax code. Based on the discussion in class, it seems that as a business owner you can elect to immediately ...