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13 April 2014 | 17 replies
Claiming costs/expenses to a property that were not paid by that tax payer is tax fraud.I know Brian loves options, I've seen his steps include filing a notice to "cloud title".An option does not prevent a property being sold subject to the option!
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13 May 2019 | 177 replies
Each of these states have come up with their own slightly different versions on why this could be a great option and what would be the benefits" http://bitcoinist.com/us-states-plans-enable-tax-payments-bitcoin/
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6 January 2023 | 2 replies
You'll 1031 from your name to your name so the tax payer will be consistent.
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20 July 2011 | 49 replies
However, if there is on-site management, it may be difficult for the taxpayer to materially participate because: 1.
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3 January 2023 | 8 replies
However you need to note that by doing that you are creating a new taxpayer for the property (the LLC).
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16 November 2019 | 8 replies
Under (current) Section 1031, tax deferral is available for the exchange of real property held for productive use in a trade or business or for investment.Also, real property held primarily for sale is specifically excluded.No direct specification of the holding period requirement period is made in the tax code.In general, the courts have been more liberal than the IRS in defining what qualifies.Technically, properties can be segregated and categorized with a single taxpayer holding some assets primarily for sale and others primarily for investment.Without foresight and planning, a serial flipper is not well-positioned to challenge the IRS on this matter.
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1 May 2019 | 9 replies
In that case the tax payer hasn't changed at all anyway.
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17 February 2020 | 20 replies
It's very difficult as a CPA to answer this type of question without having a full understanding of the taxpayer's individual situation and the info provided isn't enough to make that determination.The best advice was the first advice given (check with your own CPA).
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1 November 2016 | 6 replies
No valid social security number I Deny.An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service.
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20 May 2009 | 8 replies
Tax foreclosure sales are the government forclosing upon the taxpayers property.