
5 July 2021 | 6 replies
I think you are looking for a "Fee only financial planner" - your instincts are great, this is a thing, and you are wise in my opinion to be skeptical of traditional financial planners, who WILL try to sell you in many cases on expensive whole or universal life insurance (VERY rare use cases where this is profitable to the ordinary investor) and/or will charge fees for Assets Under Management.

28 August 2019 | 6 replies
Selling at less than a year will have you paying ordinary income on the profit which will be much higher and will also include self-employment and probably the ACA 3.8% surcharge.

8 August 2020 | 2 replies
BYW, if you’re flipping, there is no cap gains, it’s ordinary income plus 15.3% ss/med.

2 February 2022 | 13 replies
first I am not a Tax expert, however, we use an LLC and the profits are considered to be ordinary income.

11 April 2019 | 6 replies
Johnson City is fairly "ordinary" and doesn't have a really high home prices like LA or San Francisco.I found the following sales data:2000 - $35,0002001 - 35,7402004 - $385,0002011 - $249,909The total market appraisal on the taxes (I know that market appraisal isn't the most accurate but its usually in the ball park) is $56,700.Why would someone buy the house for so much more than its worth?

3 May 2022 | 6 replies
Yes, you can charge them for any damages that are not "ordinary wear-and-tear" on the home.

27 March 2022 | 4 replies
You don't want to wait until they vacate and then get hit with a large expense along with the ordinary turnover in vacancy costs.

1 October 2023 | 1 reply
@Carole G.Speak to your cpaJust remember interest income from the loan is taxed at ordinary income - even if you put the loan at 0% you would still be paying interest based on govt AFR which last time I checked was around 4%

30 September 2023 | 3 replies
@Jack B.Certainly a question for your cpa/accountant since we don't know your full financial picture..But, no, you aren't taxed twice, once as a capital gain and then again as ordinary income.