Say your firm splits 50/50 with you (there will be some variation of the split it could be as much as 80/20 or 70/30) but that $12,000 comes into the firm and say you get 50%, so your taxable income on the transaction is $6,000. 

Many believe that by taking the profits (of the sale of the business) and purchasing something, such as real estate, the profits are no longer taxable. 

The other possibility is that your rental did REALLY well - it would probably have to be a home run short term rental to generate that much taxable income in that short of a time frame. 

Complete your full exchange and immediately after do a cash-out refinance on the property And use that money (not taxable) to improve the property.3.

The rate you will pay depends on your taxable income.

All of which has helped me reduce my taxable income resulting in me getting $$$ tax returns (which i don't hate)Last week i received a text from MJRESOLVES (never heard of them).

If you have your home assessed at 400k and you apply the exemption, you will now reduce the taxable value to 275k.

I already give them the non taxable limit, but am giving them options on property, leases and notes where they can get more in the future, and working with others so they get more into their Roths with options.Other ideas?

Say your firm splits 50/50 with you (there will be some variation of the split it could be as much as 80/20 or 70/30) but that $12,000 comes into the firm and say you get 50%, so your taxable income on the transaction is $6,000.

Most expenses for the business reduce taxable income.