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16 January 2025 | 18 replies
Someone can be a brilliant tax person but horrible to work with, and also vice versa.
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22 January 2025 | 12 replies
I'm not counting those since I don't manage them, but I typically avoid cities and states with laws antagonistic to landlords.
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16 January 2025 | 7 replies
(It doesn’t pay its own taxes.
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27 January 2025 | 6 replies
Taxes: Be aware of potential transfer or capital gains taxes, depending on your state.4.
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31 January 2025 | 0 replies
There will be no assessment for increase in taxes or insurance so remains at $1935.
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31 January 2025 | 0 replies
Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.
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31 January 2025 | 2 replies
So, if she bought the bitcoin for $1 million and is now using it to close on a $10 million property, that is a $9 million gain that needs to be accounted for in her income tax.
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16 February 2025 | 11 replies
Some factors to consider are appreciation and tax strategies.
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1 February 2025 | 1 reply
However, I’d like to have a space of my own before living with others again (I plan to house hack again with my next property).I’m seeking advice on how to move forward, as I need to consider things like utilities, taxes, landlord/umbrella insurance, and managing the property, especially with someone renting my garage.Specifically, I’m curious about renting out individual rooms and living on my own for a little while.
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31 January 2025 | 6 replies
From there, it's easy enough to look up the tax rate for corporations and make your tax burden assumption.