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14 March 2014 | 15 replies
As a brit I did consider Orlando, but decided against it as there is so much competition from other indiv, companies not too mention the hotels, when I decided to go to Siesta Key one year for 3 weeks in Dec(not over xmas and the oil spill had happened) it was near on impossible to get a place, so this is what swung it for me.....high demand low supply, 2nd year I owned, SK was name number 1 beach in the USA, ever since near on 100% occupancy, downside is I can't use it myself, but I've got a great neighbour who lives in Nantucket who lets me stay at there's for free if I wann come over as they have their boat in my yard....trade off!!
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8 September 2021 | 37 replies
You will be taxed at ordinary income rates tho.
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19 June 2014 | 10 replies
Admittedly, if you are doing rentals, its passive income and you don't face the 35% ordinary income tax that sent me scrambling.You can read up on solo 401K's at my favorite solo 401K consultant, mysolo401k.com and on this site.
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15 May 2014 | 13 replies
. $200k/door sounds a little steep, but not out of the ordinary.
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14 December 2007 | 1 reply
C (normal ordinary business) or Sched.
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2 October 2012 | 3 replies
The profits from those businesses are ordinary income and aren't elgible for 1031 exchanges.
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12 November 2012 | 10 replies
This can be considered a business(from what i understand), thus allowing you to take an income, if there is one after all expenses, including a separate prop mgr.Yes you would pay taxes as ordinary income, but the appreciation, once you sell, is what remains in the IRA.
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5 January 2013 | 23 replies
As for tax benefits, an LLC doesn't really provide that--if it's a single member LLC it's treated as a pass-through entity and just treated as ordinary income (minus the improvement/repair deductions and additions to basis you can take for rental property).
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9 May 2014 | 4 replies
Flipping profits are taxed as ordinary income, including SS/Med, and not deferred by reinvesting.
9 December 2022 | 6 replies
This is achievable (we've done it with single-family homes) by giving a much higher purchase price. 0% interest is good for the seller because they will get taxed based on the long-term capital gains rate, as opposed to the ordinary income tax rate if they're collecting interest payments.