Patrick Philip
Tax issues when transferring personal home to LLC then selling
I am a small spec home builder. I build under 3-10 houses per year. My bank will lend me to my personal name enough money to build a large spec home at a much lower interest rate than my HML. I want to know what would...
Wendy Vaidic
De Minimus Safe Harbour
Hi Everyone!I have researched De Minimus Safe Harbour election & it sounds like a very beneficial tax election.My understanding is:1. You can writ-off, instead of depreciating any item under $2500.00 ($5000.00 wit...
Jim Peret
Dividend fund for Syndications
Does anyone know any Syndicators that have a dividend fund. They're more tax efficient for SD IRA's. They typically run them parallel to their standard fund. I'm invested in one like but would like another to diversi...
Stephanie St. Germain
LLC questions and taxes
Hello, I have recently been considering a shift in my mindset from long-term rental property in my local market (Charlotte, NC) towards the idea of short-term rental property in an out-of-state market (that is more af...
Preston Quinn
Tax avoidance strategies on flips
Hey guys, I have my first flIp under contract. If I keep my budget in check and I am rIght about the ARV. I stand to make a good profit. Is there anything I can do to now, while waiting to close to prepare for legally...
Michael Plaks
EXPLAINED: Depreciation - myths & reality
Years ago, I was at a CPA conference, and the lecturer finished 30 minutes early. Unheard of, I know, but it did happen. He asked us what we wanted to learn in the remaining 30 minutes. And 300 CPAs in the room almost...
Tim Siocheng
New planned tax laws
Now that we will be having a new president soon, i came across an article from marketwatch about the new real estate taxes.
https://www.marketwatch.com/story/10-biden-tax-proposals-that-will-sail-through-a-democrat...
Jesse Poll
which is better tax deduction for water bill or tenant paid water
I sent a link to a friend about sub metering their water after a conversation where they were complaining about tenant water usage. Her response to me was I don't know how this could help me because the water expense ...
Paul Elston
Capital Gains from SFH investment property question
Curious if any tax pro's out there know if capital gains from sell of SFH rental property is included "Provisional Tax" for SSA tax purposes.Thanks,Paul
Karen O.
Docs from new lessee
Is it customary for a property mgr to request a new tenant provide soc sec cards, birth certificates for all tenants on the lease along with recent tax returns & paystubs?
Given issues around identity theft, the...