
24 April 2024 | 4 replies
If you give me a loan at 0% interest, then everything up to the Applicable Federal Rate (AFR) is considered a taxable gift.

24 April 2024 | 2 replies
Hey John, To break it down for you: Capital Gains Calculation:For the 33.33% Interest Acquired via Quit Claim Deed (November 7, 2015): This portion of the gain would be calculated as the difference between 33.33% of the sale price and the original purchase price of $52,700.For the 16.66% Remainder Interest Acquired on November 17, 2020: This portion of the gain would be calculated as the difference between 16.66% of the sale price and the fair market value of the property on November 17, 2020 (the date of Person A's death).For the 50% Remainder Interest Acquired on January 17, 2023: This portion of the gain would be calculated as the difference between 50% of the sale price and the fair market value of the property on January 17, 2023 (the date of Person B's death).Consideration of Home Sale Costs: Deducting allowable costs associated with the sale (closing costs, repairs, etc.) from the total gain to arrive at the taxable capital gains amount.1031 Exchange as a Means to Defer Capital Gains: You're correct that a 1031 exchange could be utilized to defer the capital gains taxes.

29 April 2024 | 64 replies
Loving BP and will be more regular here once I get going, whenever that will be.

24 April 2024 | 40 replies
In a real world example, a guest got severely injured and the regular $100,000 coverage on the policy was not enough so the umbrella picked up the rest.

23 April 2024 | 1 reply
According to my calculations, using Brooklyn's property tax rate of 0.78%, the tax should be around $354 per month based on taxable value of the property, not the $716 estimated by the agent.

24 April 2024 | 5 replies
Several that I know meet regularly are those hosted by Bobby Sharma (usually meets on the peninsula if not virtually), Neal Bawa (mostly virtual these days), Lori Greymont (SJREI in San Jose) and Bay Area Wealth Builders (they meet in the north bay).
29 April 2024 | 248 replies
Personally can't stand regular office I do not care how cheap it is UNLESS it is sitting on valuable land and I figure in existing building demo costs to re-adapt the dirt to a higher and better use than it becomes appealing.

25 April 2024 | 9 replies
If you decide not to do a DSCR loan, the second home loan is a popular option, but there are lots of drawbacks for investors as it is really a product made for regular home buyers.

23 April 2024 | 3 replies
So, both my wife and I are full time W2 employees and are in the 24% tax bracket, and I came across the short-term rental loophole which sounds really amazing for taking write offs and using them to reduce your W2 taxable income, but also equally difficult to qualify for, unless you are within a short driving distance to your property.

22 April 2024 | 12 replies
If you have a loss from syndication investment ( the entire project went bust) can you use that loss (from the final K-1) to offset your regular W-2 income ?