Tax StrategyWhile liquidating the brokerage account may trigger capital gains taxes, strategies like staggered withdrawals or tax-loss harvesting can help minimize the impact.

Congratulations, you get to share your partners tax burden and pay the depreciation recapture at ordinary income rates. 

Where is the income tax of 49% here?

The fact that you have a TAX-FREE income is crazy good.  

Do you not have taxes?

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business 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.

It is my understanding that the new owner will have the house at the cost basis of my purchase price, for calculating capital gains taxes or depreciation.For gift tax purposes for you - FMV.For capital gain tax purposes for the recipient - your original basis/purchase price 

., I left Anderson for a small firm that will do the actual taxes and then another company that specializes in tax strategy. 

To markets where you’ll gain long term tax free wealth. 

Or we gradually perform high-quality updates for a live-in flip, then roll the equity into a new home.Regarding rental income, we aim to boost income, lower our effective tax rate by generating more low tax-drag income with rental income (since there’s not much we can do to lower out W2 tax bills) and have retirement cash flow.To compare the financial impact over 10-20 years, we want to analyze renting versus flipping.