All Forum Posts by: Eric Antonson

@Preston Dahl very cool, way to go!

So did you contact the bank at first and then find an agent? Or how did that work?

Hey @Preston Dahl  - interested to hear what happened. Any news?

That's correct. Assets passed along after death receive a step-up in basis (FMV at DOD) Stocks, real estate, land, etc.

Even if your current withholding doesn't cover your tax, you can elect to withhold more from your W-2 job and cover expected tax. You would do this by filing a new W-4 with your employer.

Hey Chris - 

Here's the short answer, no.  You are not required to make estimated tax payments.

The long answer:

You must pay estimated tax for 2019 if both of the following apply. 

1. You expect to owe at least $1,000 in tax for 2019, after subtracting your withholding and refundable credits. 

2. You expect your withholding and refundable credits to be less than the smaller of:

a. 90% of the tax to be shown on your 2019 tax return, or

b. 100% of the tax shown on your 2018 tax return. Your 2018 tax return must cover all 12 months.

You stated that you withhold enough in  your W-2 to cover all of yours, and hers. You're good to go NOT making estimated payments.

Hopefully that helps.

https://www.irs.gov/newsroom/interest-on-home-equi...

Hello Stacy - see this link. Specifically Example #2. 

Adam - I just discovered this podcast one day and really got inspired. I started doing research and reading the BP books and decided action needed to be taken. So my first step is finding and meeting others in the area that are like-minded and share the same goals. 

Have you seen the Meetup group in Grand Forks? I showed up to the meeting last week and nobody was there? Any idea if this is a real group?

I'm new to the Bigger Pockets community. I'm a CPA, and I am looking for Grand Forks, North Dakota area investors to connect with and build relationships with.