Start Your Business From Home, NOW!

Small Home-Based Businesses — Five Simple Steps to Success

Did you know that, in the United States, 60% of small businesses fail in the first twelve months? For those of us who would like to start a small business — maybe even work from home — that’s a very discouraging statistic.

Does that mean that your business idea is doomed to failure? Far from it! There are steps you can take that greatly increase your chances of success. With a little time and some serious research you can hit the ground running. Let’s start from the beginning…

The bright idea

First, of course, you need to come up with an idea. Typically, business opportunities can be divided into four groups:

1. Offering an existing product/service in an existing market.
2. Introducing an existing product/service to a new market.
3. Offering a new product/service in an existing market
4. Introducing a new product/service to a new market.

At this stage of the game the only limit is your imagination. Inspiration can come from anywhere — maybe you have a hobby that you’d like to turn into a full-time job; you may be on the receiving end of bad service one day and decide to try doing it better yourself; or you may have a talent that you’d like to capitalise on.

Once you’ve come across something that you’d like to do, it’s time to take a look at the market and see what’s on offer.

Passing the test

So you’ve had a great idea and you’re keen to roll with it; now it’s time to put it through its paces. For the purpose of the exercise, let’s say that you have a passion for healthy living, and that you want to distribute a range of lifestyle accessories that promote healthy living with a do-it-yourself approach.

Ask around: Is there a market for products that promote healthy living? What sorts of products are available? Who would you be competing with and what do your competitors offer? Do you have the necessary skills to run such a business and — more to the point — what would those skills be? Where would your business be located?

Once you’ve answered those questions you should have a fairly clear picture of what your business will look like.

You source some products and decide to do some further research into the range of lifestyle products offered by a company called Vitality 4 Life. Your own life experience plus some work you’ve done as a dietician has given you the necessary skill sets, and you think that you’ll be able to work from home, giving you more time for family. There is an existing market, but there’s room for expansion. Now it’s time to take a closer look.

To be or not to be?

It’s time to get down to the nuts and bolts. You don’t want to jump into something feet first and find out the hard way that the budget just doesn’t work.

To get started, sit down and work out if you need to hire staff, which means paying wages.

If you lease a premises you’ll need to be able to pay the rent, and your location will have to be suitable for your business and target market (which also means that you’ll have to think carefully about just what that target market is). You’ll also need to work out the likely demand for your product/service.

Ok… you’ve worked out that there is enough demand for good quality juicers, sprouters, water filters and other high end accessories to take a shot at a distributorship as a home-based business opportunity. Now you need to make some marketing decisions.

Look at me! Look at me!

Advertising can be costly so you’ll want to be sure that your advertising budget is spent wisely. That means more market research, this time one-on-one. Profile your customer groups so you can aim your marketing at the right group/s of people.

Draw up a questionnaire (a short questionnaire — people run out patience if you ramble for too long) and hang around outside a few of the local gyms (for our particular example). Come up with a mixture of open questions (What do you think of……..?) and closed questions (Do you have a gym membership? Yes/No.); sliding scales can be useful too.

For our health accessories business, a good question might be ‘How did you hear about this gym? Radio, tv, newspaper, word of mouth etc…’ Such a question would then give you an indication of the types of media that your target group responds best to.

Choose a business name, print up some business cards, buy some stock and get ready to trade!

Measure it, manage it!

A teacher of mine made the point that, in business, if you can’t measure it you can’t manage it.

You need to be able to plan ahead, and to do that you need to know — or to be able to accurately predict — your total sales. The equation is simple: number of customers x average sale x frequency of visits per customer per year = total sales. Remember it, revise it often, measure your business and you’ll be able to manage it!

Keep an eye on your bottom line and, most importantly, always be aware of your cash flow — the cold, hard cash that you have in the bank. Allow for invoice periods (14 days, 30 days etc) when you’re planning your budget.

The market place has a life of its own, and no one can prepare for every contingency. Put some thought into your idea; make sure that there’s a market for what you’re offering; research, research, research; promote your business effectively; always know what’s going on in your bank account and don’t forget about cash flow!

It’s not perfect but, if you follow these few simple steps, you’ll be miles ahead of many new small business ventures. If you’ve heard of a great home-based business opportunity, or have a product or service of your own to market, you’re off to a great start!

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Increase Business Without More Time

As business owners or managers we often find it difficult, even in the best of situations to get out and seek new business. You’ve probably thought that if you could just find a way to squeeze that into your day without spending more time away from your family or working weekends, you’d be all set, right? Guess what? You can and all that it’s going to take is a little preparation.

1. Keep a box of business cards in your car. That way, you can always keep a stack of cards in your wallet or business card holder.

  • The next time you go out to eat, leave a card on the table when you leave.
  • Drop a business card in each bill you mail out.,/li>
  • When you’re at the book store, slip your card into some of the books related to your industry. Be sure to put them near the middle of the book so they don’t fall out when someone is casually flipping through.
  • Place a card rack full of your business cards on the counter of your dry cleaner. Most of them are more than happy to help out a good customer.
  • Give each friend a stack of your business cards to hand out.

2. Make a goal of meeting at least one new person each day. If you overhear someone mention your industry or a hobby of yours, make a point to introduce yourself. Start a conversation while you’re waiting in line at the bank or the Office Depot. You may never see or even talk to these people again, but chances are good that you will.

3. Never eat alone. You have to eat and so does everyone else, so why not use that time to catch up with friends and associates? There are a few benefits for both of you here.

  • You can keep in touch with people without taking a lot of time out of your work day.
  • By interacting with people that you enjoy being in the company of, your stress levels will go down.
  • Your name stays at the front of their minds – great for referrals!

4. Network in one non-work related organization. It can be anything – a baseball team, a church or charity, a community group – pretty much anything. The idea is to have the ability to network without the usual competition that you would face in a Chamber of Commerce or other business related organization. If you don’t currently participate in something that’s not related to work you should seriously consider it. It will help you create a balance between your work and your personal life while opening up a channel for new business.

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Networking for Business Success

 

Effective business networking is the bringing together of like minded individuals who, through relationship building, become walking, talking advertisements for one another.

Keep in mind that networking is about being bona fide, building trust, and seeing how your relationship can genuinely help others.
1. Always figure out before you even walk into a room, what your specific goals are in attending each networking meeting. This helps you to pick groups or associations that will help you get what you are looking for.

2. Ask open-ended questions during your networking conversations, questions that ask who, what, where, when, and how. Try to avoid questions that require a simple yes or no response. By using this line of questioning you can open us the discussion and show listeners that you are interested.

3. Become a walking resource centre. When you become known as a strong resource, others remember to turn to you for suggestions, ideas, names of other people, etc. This keeps you at their “top of mind”.

4. Make sure you have your “elevator speech” prepared and know it like the back of your hand. An elevator speech is the commonly known as the response you would give in the amount of time it would take to reach the tenth floor in an elevator. Always rehearse your spiel and be genuine, so that you don’t sound automated when you relay it to someone who asks what you do.

5. Always know what is going on in current affairs, if you don’t feel comfortable just rolling into a spiel when you first meet someone, have a back up topic to break the ice until you do.

6. Never just throw your business card at someone the minute you meet them, you must get to know the person and their business as well as explaining your business before you even contemplate a business card exchange. Some people will find you rude, pushy and unprofessional which will in turn reflect badly on your business.

7. Always phone or email your new contacts and let them know that you enjoyed meeting them. If possible mention things that you discussed on a more personal note (i.e. I hope you enjoyed that movie you were going to see that night.) people will come to know you as someone who listens, remembers them and they will form a trust with you.

8. The most important thing to remember is to follow through quickly and efficiently on referrals you are given. When people give you referrals, your actions are a reflection on them. Respect and honor their trust and your referrals will grow exponentially.

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Summer Vacation Plans for Adults

9 Beach Vacation Ideas for Grown-Ups

When it comes to go on your beach vacation, it can
be very hard to pick a destination.  There are many
places you can go, whether you want to explore the
beaches of Hawaii or just play golf in Georgia.
Below, you’ll find 9 ideas to help you decide on
where to go for your vacation.

1.  Mexican Resort
You can choose to put your frequent flier miles to
good use and take a beach vacation on the Gulf
of Mexico .  Here, you can relax on the beach, swim in
the ocean, play golf, and even indulge in one of
the many innovative spa treatments.

Desire Peal Resort & Spa Riviera Maya
is ideally located on a stretch of secluded, powder-like
sandy beach, at the edge of the picturesque fishing village
of Puerto Morelos. This clothing optional venue,
the Desire Pearl Resort & Spa Riviera Maya
is only 20 minutes from Cancun Airport.

Experience one of Mexico’s most perfect beach resorts
and the great array of attractions that are within easy reach
of the resort such as some of the most significant Mayan
archeological sites, the vast network of underground rivers,
over 100 “cenotes” (sacred pools of clear, calm water) cave diving,
scuba diving and snorkeling on Great Mayan Reef and deep sea fishing.

Hawaii enjoys
some of the best weather in the world – making it
a great choice for your beach vacation.

2.  Golf and Beach in Georgia
Popular among the East Coast, the Cloister at Sea
Island in Georgia offers you 54 holes of championship
golf, sandy beaches, and a wide array of things for
you to do.

3.  Oahu beach vacation
At the Kahala Mandarin Oriental you can expect to be
pampered like never before.  You can visit the spa,
take scuba diving classes, or choose to swim it up
with the dolphins.  The resort is conveniently
located 15 minutes away from Honolulu and Waikiki
Beach.

4.  Virgin Islands vacation
At this vacation destination you can enjoy blue
waters and sandy beaches.  The Ritz Carlton, and
St. Thomas resorts offer you the best of luxury
hotels during your beach vacation in the Virgin
Islands.

5.  Half Moon Bay California
Located just 30 minutes by car away from San
Francisco, the Ritz Carlton Half Moon Bay is a
quick beach vacation away from the normal busy life
of the city.

6.  Luxury Beach Resort of Bermuda
Two hours away by flight from New York City,
Bermuda is a quick and ideal vacation away from the
East Coast.  Ariel Sands offers you 47 guest rooms
with gourmet food and breathtaking views.

7.  Romance and seclusion in Jamaica
With unique rooms and splendid views of the
Caribbean, gourmet cuisine and amazing beaches,
The Caves resort in Jamaica helps to set the beach
vacation mood like never before.

8.  Lakeside Resort Georgia
Near Atlanta Georgia, the Lake Lanier Islands offers
a golf course for golf lovers and a waterpark with
several water rides, slides, and water attractions
the entire family will enjoy.

9.  Family fun in Hawaii
The Kona Village Resort in Hawaii offers you
several vacation activities that include snorkeling,
kayaking, sailing, volleyball, tennis, fishing,
scuba diving, and glass bottom boat tours.

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Sell Your Home Now for Maximum Price

Now is the time to be on the market

Are you thinking about homes for sale? You may be in luck. Although the price of a house in the past few years may have been disappointingly low when you want to sell, it is becoming more of a seller’s market once again. More and more homes are being sold for reasonable–and even exceptional–prices, much to the delight of sellers who have homes for sale but don’t want to let them go for low prices. In March, 2013, data from realtor.com showed that more than 146 different housing markets which monitored their sales saw an increase in the price of a house over the past few years. On top of this wonderful news, there is more evidence indicating that even banks are easing up on their requirements for loans–something which many buyers look to when they want to purchase a new house.

Of course, selling your home is about so much more than simply getting your money’s worth for your house.  It’s about new houses! And with new houses come new opportunities and new locations! Although it is becoming a better market for sellers, there are still plenty of new houses with high-end features in great locations that you can purchase for reasonable prices. You could use this opportunity to purchase a larger home, a better home—a home in a nicer or more preferred school district!

If you are considering homes for sale, then you may also be considering renovation. Should you renovate? Will it really affect the price of a house? There are many basic homes being sold for reasonable prices on today’s housing market—and there are homes with renovated functions being sold for reasonable prices as well! There are two main questions to ask yourself when you are deciding whether or not to renovate your home. The first is this: Is there anything in my home that needs remodeling? For example, you’ll have a much easier time selling a home with central air conditioning than one without—so an upgrade like that would be something to definitely look into if you are selling your home. The second is: What kind of return will I be getting on this renovation? Certain renovations, like bathroom renovations, have a much smaller return when compared to renovations like additional bedrooms or spaces, especially those in areas like the attic or basement which many new homeowners will not want to touch themselves.




If you are unsure about selling your home, there is another option: market reports. Market reports will give you useful information about what kind of homes are selling in your area: what features and amenities they have, what they are being listed for, what they are selling for, and other information that will help you make an informed decision about selling your home. There are many companies who even offer free online market reports, something that you shouldn’t pass up if you are in the mind to sell your home.

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Keller-Williams Atlanta Midtown Announces Free Information Only Home Buyer Seminar February 9, 2013

Contact Information
Jonathan McGovern
Keller-Williams Atlanta Midtown
1420 Peachtree Street Suite 100
Atlanta Georgia, 30309
(855) 285-7322 x141
 

Guaranteed No-Selling / No Stress Home Buyer Opportunity to Learn to Buy Atlanta Real Estate in a comfortable lecture setting. Bring all of your questions for the round table session when attendees will be able to address all issues and concerns about purchasing a home.

Home buyers need current market information, and Realtor assistance to purchase a home. The problem is that an encounter with a real estate agent can turn into a very stressful endeavor. This seminar was created to as a solution to the high pressure sales tactics that discourage some buyers and sellers from interacting with real estate agents. This seminar is for your education. No Pressure Tactics / No Selling at the event.

Get prepared to purchase your first or next home. This class will guide you through all of the steps needed to purchase a home.

A Few questions that wil be answered include,
How is my credit compared to other buyers?
How much do I need for a down-payment?
How much can I afford to pay each month?
How do I get help without pressure?

We will have a special address to credit matters, types of loans currently available, and new home buyer assistance programs with Special Guest Presenter Angela Morton of Silverton Mortgage. Angela is a mortgage banker with over 20 years experience in home mortgage lending, personal credit development, and real estate investing. She is a wealth of knowledge and she will be presenting a market update at the seminar and leading the round table discussion to close out the event. So please bring all of your questions, worries and fears; you will be glad that you did.

Prior to Home Purchase Angela Morton advises her Six Steps to Improve Your FICO Scores Now

1. Stop applying for new credit. Recent inquires damage your credit score.
2. Always make a monthly payment. Skipping payments is creates a series of credit problems.
3. Reduce the amount owed on each credit card to less than 40% of the available credit limit.
4. Keep all credit lines open. Closing cards removes much of the history that makes up the credit score.
5. Pay more than the minimum payment required.
6. Get a pre-paid debit card and remove the credit card from your wallet or purse.

Be sure to ask Angela Morton how you may obtain your personal credit profile with scores and an evaluation of your financial qualifications for FREE.

The Guarantees: First, there will be NO SELLING / NO PRESSURE at the event. Second, you will leave confident on knowing how to purchase a home in Georgia. Third, it is FREE, everything including parking is FREE. I we break any guarantee, you get a special parting gift.

To Register for the next workshop Click Here, right NOW.

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Attend the “Build an Apartment Empire” Seminar FREE. Get Rental Income, Tax Savings!

Atlanta Rental Property

Multifamily Rental Income Is Stable and Predictable

What does it take to successfully invest in real estate rentals? How will you build a “Strong” management team? When is a good time to start investing in real estate? We will learn the basics of apartment investing in Atlanta GA. This is the first of a multi-part series that will begin with your investing goals and progress through building a team of professionals to keep the ownership and management process from becoming overwhelming. Come join us as we learn from local experts how to become an expert real estate investor.

Learn How to Finance Your First Properties with Mortgage Consultant Angela Morton of Silverton Mortgage. Discover your Best Funding Sources from a Financing Veteran.

REGISTER TODAY!! http://apartmentchampion.eventbrite.com

Even Better News for Apartment Owners and Investors.
Industry speculators have observed more people opting for rent, even though the rent is extremely high. Besides, affordable options are not safe. Many have resorted to shared premise, owing to the difficult y with locating a premise and getting it approved. Only a few weeks or months back, renting was given warm welcome with numerous benefits and perks. But now, it is the opposite! Also, the construction industry is witnessing a sea of changes. Single family homes are no longer the trend. Now, multifamily apartments will be gaining about 90% this year end. Many are put in waiting list when checking for a premise. This has increased the number of apartments and multi-storied residential premises. By 2015, there is an estimated increase in the number of residential units, though there might be enough takers. For those who are looking to invest, this might be just about the right time to invest.
Sign Up Today!     http://apartmentchampion.eventbrite.com

Atlanta Rental Property

Apartment Investments Maintain Value During Tough Times

Atlanta Apartment Investment

Cash Flow Investment Apartment in a Great Area

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Flipping Houses – Profitable Home Ventures 101

 

House Flipping Secrets ~ Dos and Don’ts

Author Jonathan McGovern

Money won’t create success, the freedom to make it will.
Nelson Mandela

 

Flipping Houses - Distressed Atlanta Home

Distressed Multifamily Home for Sale in Atlanta GA

You could be an amateur considering Flipping Houses, or a person who is well versed with it! Reading this article could give you useful tips and hints. After all, we can’t know everything in life! House Flipping is considered very lucrative and many want to venture into it and gain profits. However, as much as it is lucrative, it is tricky and without prudence, can push a person downhill.

Money: To start with, anything to do with real estate, involves money. The money we are talking about is huge and is the greatest barrier to the new real estate investor. Without considerable resources such as savings, or returns from other investments the new investor must find creative ways to fund early real estate ventures.

Rework: Besides, this money is not going to give immediate profits. A property is purchased, and then a suitable buyer is to be found and then, sold for profit. If the property needs maintenance, or renovation, or even repairs, then that’s to be done before selling. This involves further money and time.

Matching Selling Cost with Buying Cost and Expenses: There are many who think they can buy a house on finance and then, flip it. If that’s the case, financing comes with interest rate. So the property acquired, should make up for it.

Time Involved: Any property is not just bought and sold off, right away. Besides buying and doing anything else that’s needed, there’s something called holding costs. This could the tax that one has to pay yearly, etc. The property is to be held until prices rise, or a suitable buyer is found and then, sold for profit. This profit should include any repairs or renovations done, interest if applicable, holding costs if any, etc. Do not believe home improvement television programs that always report a large profit but never account for the cost of holding a property during the repair and selling period.

So, if a house is good when it is bought and does not involve any further investments, it is OK. But when repairs are involved, getting professional help to fix it is going to be costly. One can almost never buy a property in a location where all properties sell for 1 M, buy it for around the same cost and then sell it for a higher cost! Only rarely, can one find great deals where a 1M worth property, will come up for ½ M and can be sold for 1.5M. That’s really rare.

Here are few tips to make it work:

FLIP: How to Find, Fix, and Sell Houses for Profit

  • Do research on the neighborhood and ensure, the property chosen, is really worth it. This means, not only should be the property be suitable, it should also be profitable.
  • Don’t plan to spend more than what you can probably make! Determine the best selling price for a property, and ensure the buying price, expenses and other costs involved stay well within that limit.
  • Remember – The goal to acquire the property and flip it for a profit, within a reasonable timeframe. So, set realistic goals and achieve them, when renovation or other tasks are involved.
  • Interior is as important, as is the exterior. Without looks, none will enter the property. Only with right interiors and furnishing, will they step in further and determine if the property is suitable. It’s a package that should be complimenting each other and comprehensive, without any voids.
  • Spend where you have to and cut down where you have to! Don’t spend too much on costly furnishing, especially when you are working on a low budget area. You can probably not redeem those expenses!

You’re new venture may appear easy at first glance. Thinking it is easier than it really is a common mistake, but don’t be afraid! Do you research and learn along the way. Every market is unpredictable and involves risks. Do the math right and get your probability right, to ensure you don’t burn your fingers. Without the right knowledge, you might end up on the wrong side of the market. When you combine your skills, with money and play well, your profits can go soaring!

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“Clear Objectives Prevent Lost Profit!” said the Motley Flipper

Controlling Costs during a Flip

Author Jonathan McGovern

We all know that Real Estate Investment success is directly proportionate to one’s skill in money management. If this is your first tryst with real estate flipping, this is even more important and you really need to understand, how much cost is involved and how it can really blow out of proportion in no time. Yes, you can plan well and start with undertaking the work involved in the chosen property for flipping, but, the budget planning will never be the same, once work is started.

Let us assume your first property chosen for flipping is a house. There are several aspects that you must consider, especially when it is a house. We purchase properties that would be profitable with flipping, though to make the property attractive for buyers, here are a few things you must check and repair if needed:

  • Are the doors and windows locking properly?
  • Are security measures in place and working?
  • Is the house clean and tidy, in and around?
  • Are there any visible signs of pests including roaches, wasps, spiders, termites (furniture), etc.?
  • Is the roof intact without any leakage or damage?
  • Is the drainage system perfect?
  • How about the flooring and structural in the premise? Are they intact?
  • Should there be any wooden interiors or furnishing, are they in good condition?
  • Is the plumbing system well done and without any leakages or faults?
  • If the house is a fully furnished one, are the cooktops, furnaces and other amenities working properly?
  • Are there any leaks, or damages in structural, or plumbing lines, or anywhere else?
  • If cabinets are done for the kitchen and storage spaces and drawers laid in for other rooms, are they all intact and smooth? Is anything missing or broken?
  • Are carpets, countertops and everything else in the house intact and usable?

Most buyers don’t really want to spend on buying and then on repairs. When you are trying to flip, it is important you check such aspects and ensure, they are taken care of, should there be any issue. Now that you have an idea on what all you should be checking and aspects that might require checking and additional rework, here’s how you can go about doing it.

FLIP: How to Find, Fix, and Sell Houses for Profit

First task would be to come up with a realistic budget for the entire project. This is very important to keep tab on costs and ensure you don’t overspend. In case you spend more on aspects where you have not allocated as much, try checking if there’s something you can do for it. In any other case, see where else you can cut costs and adjust the difference. Yes, costs will vary from the original budget, but should not cross the maximum limit, to ensure profits.

Next comes, managing costs. We all know using professionals can be costly. Yes, at times you might need their assistance, in any other case, do it yourself! Remember: The key to profiting with flipping is to never overspend, not even a penny, if you don’t need to!

Third is to obtain adequate permits upfront. Yes, you can do it later, though to avoid further delay and ensure you can flip once the work is over, obtain permits and other required licenses ahead.

Remember, in any real estate work, money spent is huge. You need to account for every penny that you spend, to keep a track of it. After all, you are spending to boost your profits, not forego it! Also, this will help you estimate for your next flips better, and give you an idea of cost involved for different aspects.

Remember: You can’t put up a luxurious interior for a mid-range house, situated in a mid-range premise. You need to avoid costly materials like granites and other amenities for mid-range premise, and ensure the cost – profit ratio is always considered for every move made. Study the neighborhood norm and fit your investment property to the standard for the neighborhood.

Last but not the least, you must know how much spent and where, for success in flipping, or just about any real estate venture. Spend appropriately and manage money prudently, to taste success and reap profits, while flipping a home.

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The Other Best Reason to Own Real Estate

Real Estate Depreciation ~ an Introduction

Author Jonathan McGovern

What is depreciation? Why is it important? Depreciation is a deduction percentage allowed in income tax returns, to recover the cost of property. Not all properties qualify for depreciation. The annual allowance is allowed for compensating deterioration, wear and tear and obsolescence of the property.

Almost all tangible properties like machinery, vehicles, buildings, furniture and even equipment, intangible properties like patents, computer software and copyrights, etc. are all depreciable. However, land does not qualify for depreciation, though the buildings constructed on it, can qualify.

Commercial property is eligible for 39 years of depreciation, under straight line method, where the depreciation value remains constant over the years.

Listed below, are the qualification criteria to be met for a property to qualify for depreciation:

  • The property should be owned by the taxpayer. Besides, further improvements done on the property, typically for capital improvement, can qualify for depreciation.
  • The property should be deployed for an income generating, or profit generating business, by the owner and taxpayer. If it is used for both personal and commercial purpose, only commercial areas can qualify.
  • The property should have a useful and determinable life, for over a year.

Even when all the above criteria are met, taxpayer cannot depreciate the following properties:

  • Property that was used for service, ten disposed within a year.
  • Equipment intended for capital enhancement. Otherwise, taxpayer can include the equipments, depending on the usage.
  • Term interests, not all though.

So, when does a property qualify for depreciation? Right after a property is put in for business purpose; it becomes depreciable and continues until, the entire cost if recovered by the taxpayer, or with his/her retirement.

However, the taxpayer must identify the following, to make sure the depreciation value is appropriate:

  • Depreciation Method
  • Class life of the chosen asset
  • If or not the property is listed
  • If or not the taxpayer is looking to dispose a portion of the property
  • If or not the taxpayer can avail “bonus” depreciation for the first year
  • Depreciable basis, for the property in question

The correct method for deprecation is The Modified Accelerated Cost Recovery System (MACRS). Form 4562, Depreciation and Amortization, is to be used by the taxpayer, for reporting depreciation with income tax returns. The form is divided into six different sections, with instructions for filling out, given in detail.

Logically, real estate is an investment by itself, with its value appreciating every year. However, building is eligible for depreciation, though in reality, there is no loss. Since the depreciation value is shown as expense in balance sheet, it is an added saving. That’s one of the major advantages in owning a commercial property, besides all the other advantages and benefits it has to offer.

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