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31 January 2025 | 0 replies
Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.
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4 February 2025 | 1 reply
Income would be from hunting dues and timber harvesting, expense would be conservation management, taxes, and the mortgage.
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24 January 2025 | 13 replies
Taxes 10k HOA is 9k The current owner never did short-term rentals.
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31 January 2025 | 6 replies
From there, it's easy enough to look up the tax rate for corporations and make your tax burden assumption.
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31 January 2025 | 2 replies
So, if she bought the bitcoin for $1 million and is now using it to close on a $10 million property, that is a $9 million gain that needs to be accounted for in her income tax.
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11 January 2025 | 2 replies
Is the option government supplied insurance where taxes supplement the insurance?
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6 January 2025 | 7 replies
Finally, check with the Town to make sure there are no municipal liens, Make sure they're on Town sewer, check with the tax assessor to see how many bedrooms the tax office thinks there are, (important if you are flipping) buy ok to have more bedrooms if you are planning to buy and hold.
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7 February 2025 | 3 replies
.; and capital to pay for options, marketing, legal counsel, accounting, tax advise, etc.
8 February 2025 | 10 replies
I want to cancel TODAY and get a refund of the $390 + tax membership fee.
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7 February 2025 | 4 replies
If you need financial help, ask under the "Finance, Tax, and Legal" forum.