There was no remorse from them for their actions and despite years of treatment I believe 100% that if left to their own devices they would reoffend.

Hi Kyle,My wife is a dentist and the proud owner of Vitality Dental in the Northland of Kansas City.

To go a bit further into what Dmitriy mentioned, since your IRA earns the income the tax treatment is specific to your IRA.

However, you do not need to file Form 8832 because IRS rules allow a married couple in a community property state to elect disregarded entity treatment by default.

However, you can defer taxes under §1033 involuntary conversion if you elect to reinvest the proceeds into a similar rental property within two years (three years if the government condemns the property or threatens to do so, and four years for a principal residence in a federally declared disaster area).To reduce taxable gain, consider:Electing §1033 treatment and reinvesting the full $300K into a new rental property to defer taxes completely.Partial reinvestment, where only the portion not reinvested is taxable.Properly documenting all replacement costs and property details to ensure IRS compliance.Using cost segregation on the new property to accelerate depreciation and offset future taxable income.Since the §1033 election must be made, consult a tax professional to ensure compliance and maximize deferral benefits.This post does not create a CPA-Client relationship.

And you need a good plumber in speed dial, know enough to troubleshoot issues over the phone before you call that plumber and also provide enough business to that plumber, so you get a good rate and priority treatment.

Since you and your partner are unmarried and own a primary residence together, tax treatment of deductions (e.g., mortgage interest and property taxes) requires careful allocation.

As someone in the industry with an established infrastructure, I hate to see anyone suffering this type of treatment.

Im basically looking for advice on how i can save as much on taxes as possible.Part of the property is your primary residence, which does not qualify for 1031 Exchange treatment.

In doing so, bear in mind that the cost and admin of a corporation is higher and that the tax treatment is different:1.