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1 May 2024 | 16 replies
Here are some insights and potential options to consider:Policy Limitations: It's not uncommon for mortgage lenders to have policies that only allow transfers to an LLC under specific circumstances, such as if the property is your primary residence.
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29 April 2024 | 5 replies
If she sells the property before that date, she would not qualify for the full exclusion unless she meets certain exceptions such as unforeseen circumstances like job loss, health issues, or other qualifying reasons outlined in IRS Publication 523.Regarding prorating the exclusion, unfortunately, there's no provision in the tax code for prorating the exclusion based on partial years of ownership or residence.
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28 April 2024 | 14 replies
But clearly other items are required because some that have 5 star are not getting the distinction
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29 April 2024 | 4 replies
I believe that it has to be OO for 12 months, barring extraordinary circumstances, like getting transferred out of the area for work.FHA has a whole department dedicated to "occupancy fraud" and given that it's a felony, I'd steer very clear from it.
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29 April 2024 | 5 replies
Lenders may have specific requirements or restrictions for loans to LLCs, so it's essential to consider how this might affect your future financing options.Before forming an LLC, it's crucial to consult with a qualified attorney and tax advisor who can provide personalized guidance based on your specific circumstances and goals.
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29 April 2024 | 8 replies
It may be necessary for you to assess the property's possible appreciation, rental revenue, and general market circumstances.
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28 April 2024 | 8 replies
Whether you can include rental loss in your tax filing for the last three months of 2023 depends on various factors, including your specific circumstances, the type of property you're renting out, and the applicable tax laws in your country or jurisdiction.
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30 April 2024 | 140 replies
Most of us don't have the ability to print US Legal Tender (our own money); so, the judicious use of credit remains our best option.Be sure to make the distinction between the consumer mindset which is typically a scarcity mindset: "I don't have enough", or "I can't afford it", "How much will it cost?"
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29 April 2024 | 23 replies
Best,Dominique It depends on the circumstance.