Hello, I have been trying to use this and sign up on the website that was provided, but it is not working. It continues to say that it is expiring. Can you help me with this?
Do you mean the STR loophole? It depends. If you live in the main house as your home, then yes, possibly the ADU as a rental could qualify. If you rent out the main house also, you have to average the rental stays of all units on the property (weighted by the amount of rental income... it's complicated), so if the main house is a long term rental, then the property probably wouldn't qualify.
Can it help you if you took cash out of your 401K? thinking about using my 401K to BRRRR but concerned about the tax penalty. I am under the impression that the IRS is less likely to offset 401k taxes.
Can I use the STR bonus depreciation method (this loophole)if I just posted my property on airbnb? (It is the end of the year so I dont have much time to work on it for 100 hours)
You need at least 2 bookings to establish that it has an average rental period (and that the average is under 7 days). If you can't reach 100 hours, you could qualify for one of the other 7 tests, such as "substantially all" if no one else did any substantial work on it (no other cleaners, no significant repairs, etc). But realistically, you would probably want to wait for the next year to qualify.
Ok let’s say you do all this, what happens year 2 and on?
You get depreciation still but much less than the first year
You the man!! Brought in over $40,000 in revenue on a home we own for $160,000 in TOPEKA KANSAS and YOU HELPED!
Bring these educational videos back
I’m currently getting a rapid cost seg done by your company, should have it soon!
Website doesn’t work properly . It keeps saying that session expired
Hello, I have been trying to use this and sign up on the website that was provided, but it is not working. It continues to say that it is expiring. Can you help me with this?
Can you do this on an ADU that’s an STR?
Do you mean the STR loophole? It depends. If you live in the main house as your home, then yes, possibly the ADU as a rental could qualify. If you rent out the main house also, you have to average the rental stays of all units on the property (weighted by the amount of rental income... it's complicated), so if the main house is a long term rental, then the property probably wouldn't qualify.
What if your rental is out of state can you still get the material participation designation?
Is this the video you posted awhile ago?
I really want to support you, but your website is broken. It keeps saying session is expired.
I can't seem to find their accounting firm on-line. Any help would be appreciated.
I think that's their good link.
Can I use cost segregation and bonus depreciation against STR'S that are international going on the market next year?
How would those work for a park model RV (399sqft) .... I have set up as an airbnb..
Can it help you if you took cash out of your 401K? thinking about using my 401K to BRRRR but concerned about the tax penalty. I am under the impression that the IRS is less likely to offset 401k taxes.
Can I use the STR bonus depreciation method (this loophole)if I just posted my property on airbnb? (It is the end of the year so I dont have much time to work on it for 100 hours)
You need at least 2 bookings to establish that it has an average rental period (and that the average is under 7 days). If you can't reach 100 hours, you could qualify for one of the other 7 tests, such as "substantially all" if no one else did any substantial work on it (no other cleaners, no significant repairs, etc). But realistically, you would probably want to wait for the next year to qualify.
0:20 British accent needs work there buddy