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31 July 2024 | 5 replies
Simply own and live in the home for 24 months of the past 5 years from the date of sale, and receive a tax benefit of up to 250k of excludable capital gains from tax or 500k if married and filing jointly.
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30 July 2024 | 3 replies
Or info on any effects of changing ownership of the STR from joint to individual in the case of a divorce?
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31 July 2024 | 10 replies
They can verify it meets current law, explain some of the more complex clauses (e.g. joint and several liability), and maybe provide suggestions on where you could strengthen it based on their experience.In my experience, most attorneys have very little experience with landlord-tenant disputes.
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30 July 2024 | 4 replies
Don't just ask for something, try to give something first - a Joint Venture opportunity - cold calling for free - etc.
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30 July 2024 | 2 replies
What I mean is, it looks like as a married couple filing jointly we pay $0 in cap gains on first $94k, so could we use a strategy to pull out $94k in cap gains then 1031 the rest?
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30 July 2024 | 3 replies
Before that it was primary residence since January 2019.Do I need to sell it this October to avoid capital gains tax to qualify for 2 of last 5 years exemption for capital gains (up to 250K single, 500K married filing jointly)?
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29 July 2024 | 2 replies
I have an opportunity with a family member to jointly purchase a home for the family member to live in as their primary residence.
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28 July 2024 | 1 reply
My business partner and I have a joint LLC (shared business bank accounts / credit cards / etc) - pretty standard stuff.
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27 July 2024 | 4 replies
Approximately 300K value based on current market conditions.My interests were acquired in 3 steps:(1) Initial quit claim of 1/3rd interest (single owner to 3 joint tenants with rights of survivorship on title).
27 July 2024 | 2 replies
This can be complex and requires agreement on the valuation and division.Continued Joint Ownership: In some cases, continuing to own the assets jointly and managing them through the LLC may be an option, especially if they are profitable and both parties are willing to maintain a business relationship.