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29 March 2024 | 8 replies
Please keep in mind for tax purposes LLC are passthrough by default.
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29 March 2024 | 7 replies
Every $100k in gain up to the limits, $250k (if single) or $500k (if married) will save you $15k in federal taxes and I’m guessing $5-10k in state taxes?
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29 March 2024 | 11 replies
Sold it a year after that and walked away with $400k, mostly tax free.
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29 March 2024 | 7 replies
You can always "borrow" or withdraw the principle since you already paid taxes on it. 2.
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30 March 2024 | 7 replies
Even if you are actively operating as an STR the lender will look to tax returns for income, so if it has been less than a year they will still go on LTR income.You need to factor in that your lender is going to underwrite any loan based on LTR income only.
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29 March 2024 | 2 replies
The value around $20k according to the local tax office.
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1 April 2024 | 48 replies
security, fencing, a guard dog inside or someone stays there at night $1500carry cost of your loan/tax/insurance$?
29 March 2024 | 4 replies
We have used work bonus payments, tax returns, and inheritances to get down-payments.
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29 March 2024 | 7 replies
If it is possible, is there anything else I should consider before talking to lenders (namely, any tax implications).
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27 March 2024 | 5 replies
If I continue to pay the mortgage in the the seller's name (with out refinancing) would they claim the mortgage interest tax deduction or do I get to claim that since I am paying the mortgage and hold the deed to the property.