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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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21 January 2025 | 14 replies
All mortgages contain a “due on sale clause” which states that the lender may, at its option accelerate (call note due) if a transfer of the property securing the note takes place.
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23 January 2025 | 7 replies
If so, there are no transfer taxes due.
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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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4 February 2025 | 2 replies
I understand I wouldn't get the benefit of tax deductions, but what else am I missing that makes this a good deal?
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27 January 2025 | 23 replies
(I REALLY can’t stand state income taxes.
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21 January 2025 | 2 replies
If you think ahead, you can minimize recapture with the right tax planning.So what is recapture?
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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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28 January 2025 | 9 replies
Specifically:Will the lender only consider the rental income from the two legally zoned units, even though all three rental incomes are declared on your tax return?
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27 January 2025 | 7 replies
Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.