Nicholas Aiola
Ask me (a CPA) anything about taxes relating to real estate
27 February 2024 | 2053 replies
The "stop the clock" suspension for military personnel applies when the member is on qualified extended duty:Qualified extended duty.You are on qualified extended duty if: You are called or ordered to active duty for an indefinite period, or for a definite period of more than 90 days.You are serving at a duty station at least 50 miles from your main home, or you are living in government quarters under government orders.You are one of the following:A member of the armed forces (Army, Navy, Air Force, Marine Corps, Coast Guard);A member of the commissioned corps of the National Oceanic and Atmospheric Administration (NOAA) or the Public Health Service;A Foreign Service chief of mission, ambassador-at-large, or officer;A member of the Senior Foreign Service or the Foreign Service personnel;An employee, enrolled volunteer, or enrolled volunteer leader of the Peace Corps serving outside the United States; orAn employee of the intelligence community, meaning:The Office of the Director of National Intelligence, the Central Intelligence Agency, the National Security Agency, the Defense Intelligence Agency, the National Geospatial-Intelligence Agency, or the National Reconnaissance Office;Any other office within the Department of Defense for the collection of specialized national intelligence through reconnaissance programs;Any of the intelligence elements of the Army, the Navy, the Air Force, the Marine Corps, the Federal Bureau of Investigation, the Department of Treasury, the Department of Energy, and the Coast Guard;The Bureau of Intelligence and Research of the Department of State; orAny of the elements of the Department of Homeland Security concerned with the analyses of foreign intelligence information.So, once your husband's active duty ends or he moves back within 50 miles of your home, the "stop the clock" suspension ends.
Francisco Avellan
Capital Gains Tax Avoidance
20 February 2024 | 11 replies
That's just a gross number what I threw in. Definitely
Phil Sharp
Buy-and-hold philosophies: Cash flow vs Appreciation
21 February 2024 | 94 replies
If their primary reason for investing is appreciation and they believe because their property increased in value yesterday it will increase in value indefinitely they are faith investors.
Charlsi Kelley
Helping Single Moms with Home Ownership- a rent to own model?
19 February 2024 | 28 replies
As others have noted, the fact that these people cannot afford a home today does not bode well for their ability to do so in the future unless you will be subsidizing them indefinitely.
Danny M.
Question On Finding A Real Estate Agent
15 February 2024 | 15 replies
However, I assume they are because I contacted them though bigger pockets after providing the market area I am searching in. Definitely
Haemi Jung
Sell or Keep a co-op apt with a positive income
13 February 2024 | 5 replies
However you do have the opportunity to look at a 1031 exchange which would indefinitely defer all of the tax on that $240K gain.Selling one larger property to use the proceeds to purchase several smaller properties is a classic 1031 strategy called a diversification exchange.
Jonah Slove
Time to sell?
15 February 2024 | 95 replies
And could indefinitely defer paying on the other $550K or profit.
Jordan Kelly
Wyoming dynasty trust
11 February 2024 | 3 replies
I am trying to defer indefinitely or until close of trust taxes of all kinds.
Alex S.
Is Anchorage, AK a good market for STR?
6 February 2024 | 9 replies
Some assume current or past 3 months of revenue will continue indefinitely or only assume the days a comp has had historically available to determine occupancy (not counting the days it isn’t offered.
Ronin Crimmons
Equity Rich - Need Advice
6 February 2024 | 26 replies
the rest indefinitely tax deferred.