Also a little financial planning/and Taxation knowledge will be most helpful because that is the type of seller you should be looking for to consumate the perfect win-win lease option/sub 2 transaction.

Since that's less than the $15K depreciation, you'll pay depreciation recapture tax at 25% (currently) on the $14K gain.

If its a rental property, some of that gain would be subject to depreciation recapture tax at 25%.The point is, however, that gurus often advocate this strategy of doing a cash out refinance to "take your money tax free".

U.S. persons currently enjoy a credit that shelters the first $3,500,000 of assets from taxation, as opposed to foreigners who have only a $60,000 credit.

"Some, who have not denied the necessity of the power of taxation, have grounded a very fierce attack against the Constitution, on the language in which it is defined.

:wink: )We don't make stuff anymore so our trade deficit is growing and taxation is the only way to gain revenue.I would love to abolish all payroll taxes and just go with sales tax.

Republicans will call for Tax Cuts, Democrats will enhance taxation, But who's gonna revive Manufacturing in America ?

Assessed value really only has meaning from a taxation standpoint in my experience.

Kotlikoff says: “The IMF is saying that, to close this fiscal gap [by taxation], would require an immediate and permanent doubling of our personal income taxes, our corporate taxes and all other federal taxes.“America’s fiscal gap is enormous – so massive that closing it appears impossible without immediate and radical reforms to its health care, tax and Social Security systems – as well as military and other discretionary spending cuts.â€He cites earlier calculations by the Congressional Budget Office (CBO) that concluded that the United States would need to increase tax revenue by 12 percentage points of GDP to bring revenue into line with spending commitments.

Having a managerial accounting knowledge will be sufficient, basic slotting of acounts, basic cost accounting and basic taxation, you need to make the decission to slot entries, after that, it pretty well maintains and flows itself.