Michael Plaks
Short guide to April 15th for procrastinators
11 April 2024 | 2 replies
Yes:- file state tax extensions if you have state income tax- make estimated state tax payments- file amended 2018 returns if needed, unless you filed a 2018 extension in 2019- make1st quarterly estimated payment towards your 2022 taxes- adopt a dog from your local shelter
Chris Burke
Capital Gains Advice - Sell or hold
9 April 2024 | 12 replies
In general, Taxpayers use a Schedule D, part of the Form 1040, and Form 8949 to report gains on these sales.
Javier Carrizosa
Refinances and 1031 Excahnges
7 April 2024 | 2 replies
You do not want to refinance relinquished property shortly before you sell it in an exchange.As a general rule, the IRS will take issue when a taxpayer refinances and strips equity out of a relinquished property shortly before selling it in an exchange.
Cj McDougal
Monetized Installment Sale
8 April 2024 | 15 replies
This means that the taxpayer that completes a Monetized Installment Sale has to disclose they completed one on their tax return and any advisor that materially participates in the Monetized Installment Sale has to disclose that they did so.
Account Closed
April 15th is 10 days away! Why Filing an extension is NOT the end of the world.
5 April 2024 | 1 reply
Tax season is in full swing, and for most individual taxpayers, the looming deadline for filing and payment is Monday, April 18, 2022.
Kenny Simpson
Mortgage rates in the 4's and 5's in 2023?
9 April 2024 | 64 replies
Federal spending is really the best use of tax payer dollars.
Account Closed
DEBUNKED: "Managing your property manager" does NOT count towards REPS hours
6 April 2024 | 12 replies
They said once a taxpayer lies to the IRS, they lose credibility.
Roc P.
Experience leasing to the Government
4 April 2024 | 13 replies
., though it would save taxpayers billions if there were!
James Bakun
How to avoid FIRPTA tax? and how to avoid withholding requirement?
3 April 2024 | 8 replies
The disposition of any interest in US real property by a foreign taxpayer is subject to the Foreign Investment in Real Property Tax Act of 1980, commonly known as FIRPTA, income tax withholding.
Costin I.
1031 Experts: Can you partially sell and 1031 exchange into a partially buy?
3 April 2024 | 8 replies
If you go into a partnership like that (doesn't matter if it's one property or 12) then the entity you set up to own the properties (like a multi-member LLC) is the taxpayer for those properties.