u/Disastrous-Try3331

Considering buying a new home and moving out of our primary residence to turn it into a short term rental. Initially purchased brand new in 2023. If I do a cost segregation analysis, can I take advantage of 100% bonus depreciation from OBBB? Getting conflicting information that the home needs to be purchased AND placed into service after Jan 19, 2025 to qualify for 100% bonus depreciation. My accountant doesn’t know so it might be time for a new one but want to know if this is even feasible as the year 1 depreciation could make a huge impact against my W2 income if allowed at 100%. If I can’t do 100% bonus depreciation, I am thinking I’d rather make it a long term rental and forego depreciation because short term rental seems like a huge hassle and headache.

32 year old male looking into term life. We are expecting a baby. I am primary earner, typically making around 200-400k depending on the year. This year is a bit unusual as I just received a life changing commission check over 1M. Wife makes under 60k and plans on staying home at some point. How much term should I get? I have heard 10x my income but $3M sounds like too much? Some tell me enough to cover expenses? Until when? For the rest of my wife’s life or my kids life? And at what level of lifestyle? The one we have now?

I currently have about 400k in 401k and about 1.5M liquid in brokerage accounts. Home equity is ~20% or 150k on a 750k home. If I were to die tomorrow, she could pay the house off immediately from the brokerage accounts (our mortgage rate is pretty low though.. 5%) or make the mortgage payments over the remaining 28 years without ever having to go back to work. There would be enough in there to cover some living expenses but would bridge that gap with whatever employer life insurance I have at time of death (call it another 500k) and whatever term life insurance I should get (another 500k). There should be enough that she doesn’t dig too much into principal and it could continue growing she will have enough to retire one day. This is all just rough math. USAA only approved me up to 1M for $75/mo so I couldn’t even get 3M if I wanted. 500k is $50/mo. Also are these reasonable rates or should I shop around? High blood pressure managed with medication but otherwise never touch drugs or alcohol. Figured I’d get life insurance here since all my other policies are with them.