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5 December 2024 | 13 replies
Also have 2 CA properties seeking to minimize taxation.
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25 November 2024 | 4 replies
@Matt J.As an out-of-state investor in San Diego, key tax and legal considerations include filing a California non-resident tax return for rental income or capital gains, managing double taxation with potential tax credits from your home state, and complying with withholding requirements on property sales.
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26 November 2024 | 3 replies
Since I will have owned it only 3 years, the property value increase is minimal ($35K) and closer to $15K once I pay a listing agent and closing fees.2) Gift it to #2 son now and let him pay the Capital Gains tax at his rate (0%) when we sell next year.
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26 November 2024 | 11 replies
Of course in the JV deals I do where we come into title I pay tax at the state level if there is tax.
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27 November 2024 | 8 replies
Option C (selling) simplifies finances and provides a large lump sum (~$270K), but triggers significant capital gains taxes, potentially increasing Social Security taxation and Medicare premiums.
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25 November 2024 | 0 replies
Convert the Property to a Primary Residence: If you live in the property for at least two of the five years before selling, you may qualify for the primary residence exclusion, which allows you to exclude up to $250,000 of capital gains ($500,000 for married couples) from taxation.4.
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9 December 2024 | 98 replies
I didn't realize I couldn't link to a blog I wrote on the taxation of cryptocurrency.
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26 November 2024 | 13 replies
Here are a few options: max out 401k contributions for you and your spouse, max out HSA contributions, make charitable donations, harvest tax losses, etc.I recommend finding a tax strategist who specializes in real estate taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.
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23 November 2024 | 6 replies
I recommend finding a tax strategist who specializes in real estate taxation and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.
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11 December 2024 | 101 replies
What are some legal factors (Mexican laws or taxation) to take into consideration?