Hello there everyone-I have a quick question about taxable income.

If it's an S-corp for flow-through status, then depending on your other taxable income and your tax bracket, it may be advantageous to have it taxed at your rate if the overall tax on that companies income is lower.Joe

The taxable portion of a nonqualified distribution may be subject to a 10% early withdrawal income tax penalty prior to age 59 1/2.

Most states have you take the AGI or Taxable Income line off the 1040 and put it on the state form.

., you) are tax deductible for the corp, but taxable for you.

Crediting $200 per month to the purchase price does not help you as the seller and, in fact, reduces your profit at the closing table.I have had great success in having the following:* 5% lower house rent than my competitors (its taxable income any)* Extra Option payment of $300 per month (tax deferred as per IRS IRC 1234)* Guaranteed up to (2) 12 month extensions if financing fails (rent is increased by 5% next 12 months).* Having their Option able to be "marketed and sold" by TBers at their own expense if there is either a family emergency or job transfer (needs to be proven)IMHO, people that 10% into a property will get financed better and easier than No Money Down or 3%.

And that's taxable at ordinary rates, plus state tax and SET.

I've done almost everything for cash the last 20 years and arranged affairs to not pay taxes nor show taxable income.

BUT, when you sell the property, all the gain including the refi is taxable-likely short term gain and ordinary income.

The taxable gain on this sale (sale price minus book value) is $40,000.