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?
Any time we spend money or make money, it can impact our taxes - for good or for bad.
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?
Partnerships are a powerful tool to create flexibility - particularly when you own a business (or invest) with someone other than your spouse.
If you have multiple entities, it's a good time to review the business operations of each.
I do the rehab work on my properties. Can I pay myself for the hours worked?
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?
I am reading about the advantages to accept a seller finance offer. One of the advantages is that they can spread the tax due over several years. Can you explain how this process is done?