
31 August 2023 | 4 replies
You pay ordinary income taxes at your marginal tax bracket on $47,400 in profit.

20 September 2023 | 2 replies
This isn't your ordinary coin flip.The solution to analysis paralysis is definitive clarity.

21 September 2023 | 6 replies
(b) Dispose of property, either in the ordinary course of the business or when the Managers determine that such disposition is in the best interests of the LLC.

15 May 2015 | 14 replies
Furthermore, when you sell the property any and all depreciation taken as a rental property must be recaptured as ordinary income regardless of whether you move back into the property or not.

13 November 2017 | 5 replies
Ordinary income, self employment, Fed and State.

19 February 2018 | 5 replies
So I get that $8K in ordinary income and only about $4K ends up in my pocket.

2 March 2019 | 35 replies
Shortcut 1 : a route more direct than the one ordinarily taken2 : a method or means of doing something more directly and quickly than and often not so thoroughly as by ordinary procedure, "a shortcut to success"Yes there are shortcuts to wealth.

19 November 2018 | 7 replies
Tenant also stated that they seem to have mice in laundry room (first floor, winter is coming, nothing out of ordinary).

10 September 2018 | 10 replies
Flipping houses is a job that is taxed at the ordinary income level...how many "professional" house flippers do you really know.

27 July 2009 | 6 replies
A good accountant will be able to classify your properties based on their merits, as opposed to a single classification for your business.In other words, if you have 10 properties, 5 of which you flip and 5 of which you are holding as investment, your CPA should be able to get half the properties taxed at long-term capital gains (investments) and half taxed at ordinary income (dealer).Without a good CPA, you run the risk of your entire business being classified as "dealer" and paying higher taxes on all properties.Also, your CPA will recommend how to structure your business entities to support the way he will be claiming the income to the IRS when he does your taxes.