It seems that every year we run out of houses to fix around this time. Does anyone else who is flipping 20 plus homes a year have this issue or is it just me? November -> February are notoriously bad months for me when it comes to purchasing new projects.

This was a great breakdown from one of our local tax advisors Nathan Quesenberry, EA with LOQ Consulting Group. If you have any specific questions please give Nathan a call or email (contact info below). -------------------------------------------------------------------------------------------------------------------------------------------------------------------- I am writing to provide you with a "cliff notes" of the major tax law changes enacted under the "One Big Beautiful Bill Act" (OBBBA), signed into law on 07/04/2025. I will be discussing what is changing for 2025 only, the 2026 and future changes will come in a future email. Please keep in mind that this is not an exhaustive list of the changes or the requirements. Tax Changes for Individuals - The Individual Tax Rates generally remain unchanged from the 2017 TCJA and are now permanent. There was a slight adjustment to the brackets of 10% & 12% which will provide a small tax cut. - The standard deduction has been further increased. For 2025, the standard deduction is $23,625 for heads of household, $15,750 for single filers and $31,500 for married couples filing jointly. - There is a new additional deduction for seniors of $6,000 - The Child Tax Credit is now $2,200 with $1,700 of it being fully refundable. - Mortgage Interest Deduction: The $750,000 loan limit cap on the mortgage interest deduction remains, but mortgage insurance premiums are now treated as interest. - State Governors can now declare a disaster area which will allow the deductibility of casualty losses. Prior to this it had to be the president that declared a disaster area. - State & Local Taxes: The cap on state and local tax (SALT) deductions is increased to $40,000 ($20,000 for married filing separately) for 2025, with inflation adjustments and a phase-down for incomes above 500,000. New Deductions - No Tax on Tips -- Up to $25,000 in tips can be deducted from income -- We will need further IRS guidance on this, but it seems this only applies to cash tips so far.

Hello group. I have a house I would like to run numbers on. I am new to this area and am looking for: An investor friendy atty or a title search company or settlement company that can do both. A good home inspector or person that handles construction repairs or modifications and can answer questions about foundations and roofs. Who is your favorite? Or, who is looking for business? Thank you, Susan

6644 Ferrel Rd Belspring, VA 24058 3 bd 1 bth (current) - 1 acre, private, creek access Asking $120,000 Flip Breakdown Purchase $90k Reno $90k Sale $230,000 Video Walkthrough: https://vid.us/spey0z