Are all costs of rehabbing a new property considered capital improvements? What about the expenses to clean and repair a unit between renters - like carpet, paint, etc?
Does it automatically happen as simply part of my possessions or must I do something special with directions?
Reimburse the interest and make it deductible.
Is there a minimum amount of time that a property must be held in order for it to not fall into the "fix and flip" category for tax purposes?
Our business has a $300,000 line of credit. Our business is growing. Do you recommend we extend the line or do a term portion?
I do the rehab work on my properties. Can I pay myself for the hours worked?
We have never tried to find out what our business is worth. What is the first step we should take when thinking about selling? Who will help us sell it so that we get the most for it?
We have a C Corporation and an LLC. Do you recommend purchasing or leasing cars? Should that be done by one of our entities? If so, which entity?
My husband and I have had a business for the last 12 years. We have used the same tax preparer as it was just easier that way. We just don't know if we could be saving more money.
When selling your business and trying to minimize the taxes on the sale, is it possible to do a Section 1031 like kind exchange?