Hello, I have a 1099 S taxable gain deduction question.Background:I own two homes free and clear, I’ve owned property A for 12 years and property B for 3 years.

That is your power.You make money (capital appreciation which can be taken as INCREASED cash flow OR  by taking capital out (refinance, 1031 etc) through increases NOI by either increasing revenue or decreasing expenses (ideally both.) 

I found a house being advertised as turnkey and still passing the 2% rule. They even toted a abnormally small property tax for the area. However when I looked it up the property tax has been cut in half In just the la...

Good evening,

My wife and I are plan on buying a home and after two years we will be relocating. We plan on renting this property out in our absence using a property manager. With only a two year time frame should th...

HELOCs, when strategized properly, simply give the consumer the flexibility to decrease the amount of interest and time on a loan.

Primarily, the government wants to validate that you spent what you said you spent, and substantiate that the charges you made were actually for business purposes (especially when being used to reduce your taxable income).

I've always worked under the following givens:-I try to leverage as much/best as possible, therefore have a decent amount of debt-I try to lower my taxable income by writing off as much of my expenses as possible, therefore my year end statements often show minimal gains, sometimes even losses even through write offs, even though I am making money.

I think you're getting much closer to market value than you were when up over 220k, but you may need to decrease more if determined to sell this year. 

Then I ask, "Would you say that our lifestyle with regards to more time with family and more leisure time and having less money stress has increased or decreased?"  

My question is can I take out any of the funds from the proceeds as non-taxable if they are less than the purchase price?