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15 February 2018 | 10 replies
I own a business flipping vacant land properties so according to the irs I am a real estate dealer and my income is taxed as ordinary income which includes the full 15% self employment tax.
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12 February 2018 | 10 replies
You are going to pay tax at your ordinary income rate (depending on your income and if you are filing single or MFJ).
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10 July 2016 | 21 replies
You pay ordinary income taxes, get really no tax benefits, pay social security tax and have to start over again after you sell.4.
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29 March 2016 | 1 reply
PROPERTY MAINTENANCE: Except for ordinary wear and tear and Casualty Loss, Seller shall maintain the Property, including, but not limited to, lawn, shrubbery, and pool, in the condition existing as of Effective Date (“AS IS Maintenance Requirement”).
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6 April 2016 | 15 replies
Comps in the area of other duplexes are $340 to $380Do you negotiate on wear & tear or outdated things like ancient carpet, no dishwasher, old patio doors?
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19 June 2017 | 7 replies
My lease states that tenants are responsible for all ordinary Landscaping which would include watering, mowing, and weeding. for larger tasks like pruning trees, I prefer to hire contractors that know what they're doing.as for pets, you can place restrictions on breed, size, or type.
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24 November 2014 | 11 replies
Yup, I'm seeing it right here in the lease verbiage "Tenant responsible. . . except such damage, defacement or removal caused by ordinary wear and tear, acts of the Landlor, his agent or of third parties not invitees of the Tenant..."
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20 June 2016 | 7 replies
If Short Term, I have read that these pass through as ordinary income instead of short term capital gains --- is that true?
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14 August 2017 | 5 replies
Plus, my "flip" type profit of around 30% is all I have invested in the property.....and by holding, it's not taxable today (but deferred until I sell).Fix/flip is taxed immediately as ordinary income.
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16 August 2017 | 12 replies
Depending on individual circumstances self-employment taxes would br roughly 12.2% above and beyond ordinary income taxes...