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26 February 2024 | 5 replies
I do this every year, caviat is that it must be a single member llc, then you can combine it with your w-2 and deduct losses from your taxable income.
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25 February 2024 | 3 replies
Question is, if it’s a back-to-back loan arrangement, will the interest part of the repayment be taxable income to me?
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26 February 2024 | 12 replies
But this is an exemption on the taxable improvement value of those trees or vines it sounds like....So you're paying the same property tax assessment as you would have with 0 trees or vines planted.
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25 February 2024 | 7 replies
Or is that considered a “hands off” activity and not taxable?
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25 February 2024 | 2 replies
I have two questions. 1)I was reading an article that gave the following example:"John Doe has $200k of taxable income on his W2 and buys an $800k 6-unit property.
25 February 2024 | 8 replies
So, about the back-to-back loan thing, the interest part could be taxable income to you, but you might be able to avoid it if you structure things right.
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23 February 2024 | 15 replies
.$6,000 for strategizing supposing you have a monthly 30 minute phone call is $500 an hour.If the cost is $10,000, and your tax rate is 35%, they would have to decrease your taxable income by atleast $30,000 for the cost to justify the cost.
23 February 2024 | 65 replies
Let's delve into the situation you've outlined:If your rental income exceeds the 27.5 years of depreciation and deductions, resulting in a positive net income, you are correct that this surplus becomes taxable income.
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20 February 2024 | 2 replies
Would this move trigger a change in taxable amount?
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20 February 2024 | 4 replies
I see two key problems with this plan. 1) "Selling" the properties to the LLC would create a taxable event, so you wouldn't want to do that.