
12 March 2018 | 3 replies
Appreciation added another $100K in taxable gain equity.

15 March 2018 | 10 replies
@Kimberly Weatherford Based on the tenants shiftiness regarding taxable income, I wouldn't be surprised if she were able to come up with a reason she had different requirements than other applicants.

17 March 2018 | 4 replies
Over time, as the mortgage interest declines, your net taxable income increases.

20 March 2018 | 8 replies
Based on “substance over form” principles, it ruled that the IRA did not really own Roth Inc for two main reasons:• The IRA’ were exposed to no significant risk; and• An independent person in the IRA’s shoes could not realistically have expected a benefit.Since the IRA did not really “own” Roth Inc, the income really belonged to the taxpayer – and putting that money into the IRA resulted in a taxable “excess contribution”.More specifically, the court held that a $500 investment, absent any other significant risk, does not give rise to any real risk for the IRA.

21 March 2018 | 14 replies
I'd still offer slightly lower, but here is my financial situation:-Currently paying $1600/mo on my personal home-I have $12k in cash, $8k in taxable investment accounts I can liquidate, I also have ~$30k in an Roth IRA.

21 March 2018 | 9 replies
I am unable to understand what you are implying or how it in any way it could possibly help get a property out of an S Corp without causing a taxable event.

21 March 2018 | 4 replies
The home and lot must be taxable together as real property.

13 April 2018 | 2 replies
I paid the tax bill.On April 9, 2018, The County of Allegheny mailed a second Real Estate Tax Statement which reads "Tax Year 2018", "Taxable Assessment Increased" and nearly doubled the county property tax.The time to file a tax period expired April 2, 2018.However, since I was not notified of any tax assessment increase before the appeal expired, aren't my due process rights being violated?

16 April 2018 | 41 replies
Advantages Own the property free and clear immediatelyNo risk of foreclosureNo mortgage to meetCan keep the unit vacant until you have the right renterCan keep the unit vacant if repairs are neededAlmost all revenue (rent) is profitNot paying any interestLong-term property value appreciation Disadvantages Harder for beginners to buyAll income is taxable (minus expenses)Can’t take advantage of mortgage interest tax deductionReduces cash flow which could be used for other investmentsRisk of property value depreciating

20 April 2018 | 2 replies
I know that banks want to see reported taxable income and I don’t want to cause any red flags or have IRS get involved.