All Forum Posts by: Jonathan Bock

@Casey Adams

Reach out to @John Mocker and try an independent broker to get a couple different P&C options your pain is universal lots of losses for carriers and someone has to pay 

@Charlie Loomis

More details will help ...

Jonathan Bock, CPA 

@Allen L.

If your producer can't answer these questions I would try to find a new insurance professional.  First, figure out what you are trying to accomplish and be absolutely sure this is the right approach for you and your specific situation.  

Probably about five or more life insurance brokers that specialize in cash value policies are active on BP reach out to them to get some other options and feedback.  

Jonathan Bock, CPA 

 But have you bought a plane yet? 😁

 This will not work if your intention is using another tax deferred savings vehicle to shield your physicians income from taxation without production from your real estate sales.  Also, as other contributors have noted have you already maxed out your 403 and 457?  

@Amanda Long

Personally, I would get a more aggressive attorney than your current provider.  I completely empathize with your scenario and you are right this is why wholesaling is being eradicated in many metro areas.  For example, in my metro area they have to actually obtain a salesperson license and register.    

Treated as ordinary loss another great perk of real estate  ....

@Michael Plaks do have a forum link to explain this wonderful benefit of losing money in REI ?

@James Meyer

Jim like everything in personal finance it depends can you tell us some more case details and what you are trying to accomplish?  No one can give personalized advice on the forum its just for discussion and conversation aka entertainment

Jonathan Bock, CPA 

Run the math not a BOE but an actual calculation to determine your tax so you can actually make an informed decision.  After that, tell us what your tax rate is on your 1MM plus gain?  

Read Publication 523 and let us know what you figure out for a conversation starter.   

Jonathan Bock, CPA 

This has been around forever made famous in Upton Sinclair's novel "The Jungle" from 1906.