Opening a company bank account will allow you to keep all of your business spending separate from your personal expenses. Perfect record-keeping is the key to optimizing your deductions.
Often you can subtract mortgage interest at tax time. Also, check into your mortgage or home loan for deductions. Likewise, you should consider deducting travel and car expenses because you drive to and from the property, settlements, and other locations. You can also deduct some of your utility costs and any supplies and equipment for your home office. Therefore, you can deduct a portion of your rent or mortgage payment for your home office. However, many rookie real estate investors overlook the less obvious soft costs, such as those on your HUD-1 settlement statement.ĭo you have a workspace at home? Subtract for it! Remember that house flippers are classified as corporations, not as individuals. The other options below each have their own advantages and disadvantages, but deductions are essential for every business owner.Īlmost all soft costs, such as labor and materials for renovations, are deductible. Most new real estate investors cringe when tax time comes around and their hard-earned money suddenly goes missing.įortunately, there are five strategies you can use to reduce your tax burden and save cash as a real estate investor: 1.) Make the Most of DeductionsĬonsider this technique obligatory. Next: Genshin Impact 1.Don’t like the way your taxes look? You’re not alone. These two games do not necessarily indicate an uptick in interest in Van Gogh among game developers, however. As a particularly recognizable work, The Starry Night has inspired a number of fan art pieces through the years, so it makes sense as an obvious choice for games like House Flipper that want to showcase real-world art. Blathers the owl museum curator will label the work as Twinkling Painting, and put it on display, potentially along with a second piece from the Dutch post-Impressionist, Sunflowers, dubbed Flowery Painting. Other games, like Animal Crossing: New Horizons, also let players purchase the painting. House Flipper is not the only recent video game to feature The Starry Night. Scanning the painting with the game’s resale tool reveals a price of about $55,000, far less than the value of the actual Van Gogh masterpiece, which is often considered priceless. House Flipper is not big on narrative, so it is left to the gamer’s imagination exactly why the small viewing room was sealed up in the home’s basement. After descending into the home’s basement, players can knock down a few walls, and will quickly discover a small room containing a couch and the game’s digital rendition of The Starry Night. The ability to demolish walls with the sledgehammer tool is required to find Van Gogh's masterpiece. Where To Find Van Gogh's Starry Night In House Flipper This conspicuously named home sells for close to $94,000, easily achievable by players who first master the various tools the game offers, and who renovate and resell a few lower priced homes for extra cash. That “something” is Vincent Van Gogh’s painting The Starry Night. The home that hides the Van Gogh painting, unsurprisingly, is labeled as House That Is Hiding Something. Related: How A Sims 5 Open World Game Would Probably Work As the titular house flipper’s bank account balance increases, more interesting homes become affordable, such as a hacker’s residence, or a home with a bunker. The most affordable homes, like Abandoned House and Burned House, are good opportunities to get used to making repairs and pleasing potential buyers. After performing odd jobs to gain the use of various tools and earn some additional funds, players can begin buying and renovating their first houses. One of the most notable easter eggs is a Van Gogh painting hidden in a home that players can buy, but the price of the home will require some work before players can afford to uncover the renowned masterwork.Ī player starting a new game in House Flipper, a home renovation and resale sim, begins with a crude office building and around $30,000. The quirky simulation game House Flipper includes several secrets to reward players who search homes thoroughly with more than hidden dirt and water damage.