However, there were some items he couldn’t confirm without a more thorough inspection and input from his subs.These “contingent” line items include things like roof replacement, HVAC replacement, and plumbing servicing.

Paying $500 to itemize 3 or 4 days of work is ridiculous.

They let you snap a photo of receipts on the go, automatically store them, and sync with your accounting system.

If the lake is smaller then they might not be too popular if it is primarily a fishing lake.I would also add a general store with basics, bait, beer, food stuffs etc.

.), you're often limited to $25,000 of passive losses per year—and that phases out completely if your modified adjusted gross income (MAGI) exceeds $150,000.Real Estate Professional Status (REPS) or the STR Loophole: To use rental losses to offset W-2 or other active income, you must either:Qualify as a Real Estate Professional (750+ hours, primarily in real estate) and materially participate in the property.Or, if it's a short-term rental (average stay under 7 days), materially participate (100+ hours and more than anyone else) to convert it from passive to non-passive—even without REPS.Standard deduction vs. itemizing: You mentioned your CPA said deductions didn’t help due to the standard deduction.

You can shop around until you find contractors that will get on board with what you want done, or have a talk with the GC, ask if all the items are necessary, and if so, get more bids from other subs.

When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that land itself is not depreciable.

My fav side hustle in school was flipping items on eBay.

Another builder told me they always use RTA, and buys them from the big box stores.

Are you just storing contacts, or are you actively leveraging data to close more deals and raise more capital?