Dylan Gomez
Inherited a property and remodeled it now its ready to sell
28 January 2025 | 11 replies
Additionally, timing the sale in a lower-income year or exploring potential deductions could further reduce your tax liability.
Michael Reilman
Best Low-Flow Toilets?
17 January 2025 | 14 replies
Not only low-flow, the flushing mechanism reduces the likelihood of clogs.
Stanley Nguyen
Tax on private lending fund
21 January 2025 | 14 replies
@Stanley Nguyen Interest income from private lending is taxed as ordinary income, which can significantly reduce your effective return.
Chris Mahoo
Long term rental when you are not full time real estate professional
22 January 2025 | 10 replies
Tax benefits should be considered but not be the sole factor.The 'main benefit' from a tax perspective should be to generate a high return from your real estate investments and not to pay taxes on the return that you get.If you are able to reduce your taxable income, that should be icing on the cake.
Derek Harville
Grandmother wants to leave/give me trailer! Help!
6 February 2025 | 13 replies
However, if you inherit it through her estate, you receive a stepped-up basis to its fair market value at that time, reducing tax liability upon sale.Gifting it now has no immediate tax consequences unless its value exceeds the $18,000 annual gift tax exclusion (2024).
Devin James
We Need Higher Density & Smaller Homes - Thoughts?
12 January 2025 | 54 replies
Manufacturing has gone overseas reducing wages. 4.
Quan Pham
Stressing over what to do next
4 February 2025 | 9 replies
You need this property because of the tax code --its one of the categories where a taxpayer can meaningful reduce tax liability.
Clint Miller
Where Do You Find the Funds for the Down Payment?
26 January 2025 | 15 replies
Here are a few strategies to consider for funding a down payment:Partnering: Like Gregory mentioned, finding a partner who can contribute to the down payment in exchange for equity or a profit share is a solid option.HELOC or Cash-Out Refi: If you have equity in your home or another property, a home equity line of credit (HELOC) or cash-out refinance can provide the funds you need.Private Money: Reach out to friends, family, or private investors who may be interested in lending you the down payment with a promissory note.Seller Second: In some cases, the seller might agree to finance a portion of the down payment as a second mortgage.Live Frugally and Save: It takes time, but reducing expenses and setting aside funds from your income is a tried-and-true method.The right approach depends on your situation and deal structure, but a mix of creativity and resourcefulness can go a long way.
Bob Dole
Cost Segregation -- What is the true benefit of the accelerated depreciation?
9 January 2025 | 32 replies
If we do cost segregation how much would we reduce our taxes by?
Tyler Kesling
HELOC / Lease to Own
13 January 2025 | 2 replies
Use your HELOC to purchase the duplex outright for $118K.Your brother’s $50K down payment can immediately go toward reducing your HELOC balance, leaving a remaining balance of $68K.Create a formal lease-to-own agreement with your brother.