Not sure how the IRS treats primwry homes owned by multiple people who a rent all treating it as their primary.

After many years of speaking with sellers I'm telling you this is the best mindset shift I've ever had. That someone can be in pre-foreclosure, the house is going to auction in 30 days, this could be their dream home,...

If you pay your estimated taxes late, even if you end up overpaying for the year, the IRS or FTB can still charge you a small interest-based penalty.

FYI, a Cost Segregation Study will "not" increase your chances of an IRS audit.

For Real Estate Professional Status the IRS requires a contemporaneous detailed log showing date hours property and activity performed.

You’re already close to the required hours, but remember the IRS looks at whether your real estate hours are more than half of your total working time.

Here is a short article about this: http://www.nolo.com/legal-encyclopedia/can-you-ded...And the link to the IRS publications regarding this issue: https://www.irs.gov/publications/p550/ch03.html#en...

Here are typical costs (for Las Vegas) and useful lives:Water heater age is easy to determine, since the manufacture date is stamped on the unit.

Hey everyone, I’m Grace 👋 I run Brick & Ledger, a firm focused on real estate bookkeeping and tax strategy. I’m also an investor myself so I know the ins and outs from both sides of the table.
Since I know intros...

Moving every two years and selling your house tax-free is the best gift ever from the IRS.