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25 February 2024 | 4 replies
I am self employed and run a trucking company so I write off my income to pay as little tax as possible.
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25 February 2024 | 3 replies
Definitely worth chatting with a tax pro to make sure you're set up in the best way possible.
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26 February 2024 | 8 replies
Put it on the market, take your (up to) $500k tax free gain and buy a no attachment rental if you want.
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23 February 2024 | 1 reply
@Douglas J Andrews, Nope, a land contract usually conveys enough of the burdens and benefits of ownership that the IRS would treat it as a sale.
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25 February 2024 | 3 replies
My current flow is 1) find a house that matches the configuration (X beds, Y bath) in a certain neighborhood (Redfin or my agent)2) pull up rent data in rentometer / Zillow 3) run through my spreadsheet with expenses, taxes, insurances and etc I would love these to be automated.
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25 February 2024 | 13 replies
But since the rentals are on my tax returns, of course it's factored in when getting a new loan.
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25 February 2024 | 0 replies
One rule helped here (I simplify a lot): you should always count how much money will be left in your pocket after all expenses (including mortgage payments, taxes, fees, utilities, as well as the reserve fund for the current repairs of the property).
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23 February 2024 | 1 reply
I'm attempting to help out a friend's parents who are about to lose their home to back taxes.Is the process as simple as quit claiming the deed to me and then I pay the taxes and hold the property until they pay me back?
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24 February 2024 | 1 reply
I am working a deal to help a developer acquire a tract of land in Charlotte County, Florida. The problem is the county is wanting to charge $15,000 per unit, which would come out 2.5x the amount he is paying for the ...
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23 February 2024 | 2 replies
What are the IRS special tax rules for installment sales(seller financing)?