All Forum Posts by: Eugene Kemp

Not sure I'd call Pon

Welcome back Alex!

I am NOT a CPA, but I keep an EXCEL spreadsheet for my CPA that lists all expenses and all income and also mileage and I simply give that to him at tax time.  He appreciates the simplicity of it and I find that keeping it as I go helps me to capture it all and not have to wrack my brain at the end of the year and look for receipts, etc.  He has never asked me for a receipt, but I keep them all in a file in case Uncle Sam ever does.  He decides which improvements are capital expenses and which are maintenance.  If you bought the place with the intent on using it for a rental, I believe you are allowed to claim all prep costs.  Just my experience, but you should find a good CPA and let him make the final calls. Just keep good records and you'll be golden!  

No more than $50.

Max, if you go to the coj.net site, you can search for permits that have been obtained for the property. It is a little clunky, but doable. We should grab a beer or cup of coffee sometime since we're neighbors with a similar interest!

Gene

Be happy to take a look.  I had heard a while back about this property, but it is a bit rich for my blood, so I never really pursued it.  If you'd like to send me a PM with an address, we'll give it a look....I know it's close, so an easy bike ride for me! :) Feel free to shout if any other questions or if you need local eyes on.

@Brent M. We live in Atlantic Beach....how can we help?

Gene

.

Brent, 

As I have indicated before, feel free to reach out if you have questions or need any local knowledge.

Gene

Sounds like you need a new accountant. I'd go for the CPA type.