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25 May 2020 | 2 replies
Very useful for anyone at or below the itemization vs standard deduction threshold for personal taxesWhen selling the house (unless you do a 1031 exchange on the investment part)- pay back depreciation recapture tax at the ordinary income rate- pay capitol gains tax on the deductible percent of the profits- Ignore both of the above 2 bullet points if the house was 100% owner occupied/primary residence for at least 2 of the last 5 yearsReferences that I got this from for anybody looking for this info in the futurehttps://www.irs.gov/publicatio...https://www.biggerpockets.com/...https://www.irs.gov/businesses...
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26 May 2020 | 3 replies
You may have however to put it first in the non ROTH portion of the solo 401k, then do a regular conversion inside the solo 401k from non ROTH to ROTH and paying the tax at that time.
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27 May 2020 | 4 replies
Allows "pass thru" earnings and losses to personal tax filings without getting the double corporate taxation larger entities face.
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29 May 2020 | 6 replies
Yes there are ways to mitigate the excessive taxation that exists (through cost segregation, 1031 exchanges, other deductions and writeoffs), but the PURPOSE isn't about looking for write offs.
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29 May 2020 | 3 replies
If so, there are 20+ CPAs and accountants on this site that specialize in real estate taxation.
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22 March 2021 | 6 replies
Jordan, I recommend finding an accountant that specializes in real estate taxation over one that is local.
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21 March 2021 | 5 replies
Santiago, I recommend finding an accountant that specializes in real estate taxation.
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22 March 2021 | 13 replies
I recommend finding an accountant that specializes in real estate taxation.
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22 March 2021 | 1 reply
Isaac,I recommend finding an accountant that specializes in real estate taxation over one that is local.
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24 March 2021 | 8 replies
The city is incredibly expensive though income tax/personal taxation percentages are around 43% in Zürich.