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30 October 2019 | 8 replies
.$100,000 taxable value. $100,000 x 4% (owner occupied) = $4,000 Assessment$4,000 x .260 (district millage rate) = $1,020 Tax amount$4,000 x .130 (district millage discount) = $510 property tax relief$1,020 Tax amount - $510 property tax relief = $510 Property tax for owner occupant.$100,000 taxable value$100,000 x 6% (Non-owner occupied) = $6,000 Assessment$6,000 x .260 (district millage rate) = $1,530 Tax amount for Non-owner occupied
3 April 2013 | 5 replies
Look at properties in the same neighborhood with the same number of bedrooms and bathrooms and roughly the same square footage and amenities (garage, basement, yard size) that don't include utilities for the best comparisons, 2. the property taxes, and3. a landlord insurance policyYou should be able to look up the property taxes online, then you'd need the taxable value of the home and the current tax rate for non homestead (since it won't be owner occupied) to get an idea of what you'd be paying in property taxes.
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27 April 2016 | 3 replies
Then it shows up as a non taxable event.I used Sense Financial to set it up may Solo 401k and they were and are great.
11 November 2015 | 7 replies
If you have closed the sale you have lost the opportunity to do an exchange and your gain will be taxable.
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14 September 2017 | 13 replies
@William David Kelly, a refi is not taxable.
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23 September 2016 | 3 replies
You could sell your SFR or your duplex in the future and trade into a fourplex (or larger) investment property without paying taxes on your taxable gains.
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8 January 2018 | 5 replies
If your father and aunt are still alive, they are gifting this to you, which may be a taxable event, so consult a tax professional.
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14 January 2020 | 184 replies
Additionally, on a side note, but equally frustrating, I was advised that any foreign taxable investments that are held (US stocks, index funds, etc) are all taxed yearly as income to the tune of 5% of the holdings, regardless of gains, realization, etc, and recognized as income, and taxed as such.
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30 May 2015 | 16 replies
If you have a 401k with the past employer (if it is with the current employer the chances are that you will not be able move those funds) - you can roll it over into the same SD IRA and use them together with the other funds.Since there are no tax benefits when you buy rental in your retirement account, it is generally more advantageous to buy rentals in your own name to use tax benefits and use IRA for investing in real estate notes or other investments that produce income which otherwise would be taxable if you purchase them in your own name.
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29 June 2018 | 5 replies
After I received my employee identification number, I was told that if I want to, I have the option of filing form 8832 "Entity Classification Election" and elect to be classified as an organization taxable as a corporation.