Description:
The Murphy Realty Forum is used for discussing topics related to Murphy, Texas real estate and surrounding communities.
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Looking for New Property on Vacation
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Be sure to deduct the cost of expenses incurred while looking for new
property.
Travel expenses in connection with the management of your investments
are tax deductible if they are ordinary and necessary. At least half
of the time you spent away on travel must have been spent doing
business, and the primary cause for travel must be business.... more »
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Murrieta and Temecula, CA - Real Estate Home Buying Tips - Part 1
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Buying a Temecula or Murrieta home in a buyer's market can actually be
very challenging for all the exact reasons you might think it will be
easy. Remember the goal is to get the best home that meets your goals
and represents the best investment for your family. What are some of
these buyer market benefits?... more »
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Repairs due to Vandalism can be Expensed Immediately
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If rental property is damaged by vandalism, the cost of repairing the
property to its previous condition is immediately deductible instead
of being capitalized and depreciated.
For example, say you replaced an entire window frame on your property.
Normally the cost would get added back to the basis and depreciated... more »
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Making Health Insurance a Rental Expense
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Costs to insure rental property are deductible, so depending on how
you structure your rental business, you may be able to cover your life
and medical insurance as part of the rental business.
Structuring your rental property as a Limited Liability Company (LLC)
may permit you to deduct these costs for you and your family, but you... more »
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The Gold Rush Is Over More Agents Leaving The Business
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Every Sunday evening we have a group discussion with Realtors from
different parts of the state of Florida. It's our belief that knowing
an area helps all of us in understanding market trends.
The topic of conversation last night was "Agents leaving the
business".
We discussed last night about a significant amount of agents that... more »
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Giving Gifts and Lowering Taxes
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If you give gifts in the course of your business, you can deduct all
or part of the cost, but you cannot deduct more than $25 for each
business gift that you gave away during the tax year.
A gift that is intended for the eventual personal use or benefit of a
particular person or class of people will be considered a gift to that... more »
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Pay your Kids and Open their IRAs
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If it looks like you will have a large taxable liability at the end of
the year, it's not a bad idea to hire your kids to landscape your
rentals.
You can pay your kids to do work on your properties, and put the money
in IRA accounts for them. This is especially a good idea if you’ve
already maxed out on your and your spouse’s IRA contribution for the... more »
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Affordable Seized Homes - Guide Points For Buying In A Government Home Aucti..
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Starting up a family requires a secured place to settle into. The
security primarily roots to the kind of house where the family is to
stay. Because of this, government home auctions are advantageous
especially to those who doesn't have enough funds for an expensive
house. There are various offers to choose from depending on your... more »
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Fruitful Tips on Buying and Selling Property at Auction
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Irrespective of your experiences in buying and selling property at
auction or moving into this field for the first time, there is always
a lot to learn. Many of us consider this phrase in life we learn from
our mistakes. But we can do better in life without this phrase.
Commonsensical and some time for research is very crucial factor to... more »
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Property in Turkey - Guide to Buying Property in Turkey
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Overview
The Turkish Property Market
Historically, it was nearly impossible in most instances for a foreign
national to purchase real estate in Turkey. Indeed, for the most part,
Turkey maintained a nearly absolutely blanket prohibition against
foreign nationals having the ability to directly purchase and own real... more »
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