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11 February 2023 | 3 replies
Looking for an accountant for joint tax needs- someone who is savvy in regards to real estate investments and realtor related taxes.- someone with at least 5 years of experience.- licensed for CA taxes since couple is in Los Angeles.please reach out if you are available
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11 February 2023 | 11 replies
To prioritize joint bookings, you could list them individually at a premium, but together at their regular summed price.
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10 February 2023 | 1 reply
Here are some tips to mitigate capital gains on real estate sales:Use the Primary Residence Exclusion: If you have lived in the property as your primary residence for at least 2 of the past 5 years, you may be eligible to exclude up to $250,000 ($500,000 for married couples filing jointly) of the capital gains from your taxable income.Consider a 1031 Exchange: A 1031 exchange allows you to defer capital gains taxes by investing the sale proceeds into a similar property.Make Capital Improvements: Upgrades or improvements made to the property can increase the tax basis and reduce the capital gains.Time Your Sale: Timing the sale of your property during a period of low home values can reduce the amount of capital gains subject to tax.Donate a Portion of the Property: Donating a portion of the property to a qualified charity can reduce the amount of capital gains subject to tax.Seek Professional Advice: Consult a tax professional or financial advisor for personalized guidance on minimizing capital gains taxes.Note: Tax laws are subject to change and can vary depending on the jurisdiction and specific circumstances.
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23 July 2020 | 12 replies
I had a bad experience with click and groove vinyl planks where click and joints break after sometime and replacement of a single plank is difficult.....vs i seen some videos where these loose lay planks are easier to install and replace....
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17 March 2023 | 7 replies
Primary residences can be sold and avoid capital gains tax on the first $250k (single or $500k filed jointly) if it's been your primary for 2 years or more.
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12 March 2023 | 12 replies
Might be a ten day hold if the funds came in via check unless they can ACH the funds from the deposit account.
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6 November 2016 | 8 replies
My preferred method is to have tenants pay me with an ACH transfer via Chase Quickpay.
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12 March 2012 | 5 replies
Shortly after I made a joint business checking account with both of our names on it so I could handle managing the property through that account.
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5 November 2018 | 10 replies
I'd highly recommend doing a Joint Venture instead of a partnership.
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29 June 2016 | 8 replies
You may be able to have your partnership treated as a qualified joint venture to eliminate a partnership tax return, but you should work with a knowledgeable CPA to resolve these questions.