Chas Morris
MORTGAGE OVER BASIS TAX PROBLEM
I have a client who has recently refinanced an apartment building that he has owned for 16 years. He is now interested in doing a 1031 Tax-Deferred Exchange. He was recently informed that he might be facing a mortga...
Branson Berger
First time home buyer
I’m buying my first property using a VA loan. It’ll be a duplex. It will be my primary residence. My sister is going to live in the second unit and pay me rent. Is there a way to receive rental payments from her with...
Brandon Rodriguez
Seller financing deals
Hi everyone, I was just curious when negotiating a seller financing deal. The monthly dollar amount you give to the owner, does that include taxes? What are the owner be paying the taxes? So an example i...
Manuel A.
Evading Taxes
Check this out: http://www.nydailynews.com/news/world/report-21-trillion-hidden-taxman-offshore-accounts-article-1.1119613
So, $21 trillion (which is a low guess they said) taxed at USA's top bracket of 37% gives us...
Patrick J.
Can I rent to my own business to avoid SE Tax?
I am going to rent a private office and my plan is to make an LLC that collects rent from my personal business.By doing this, my business income gets shifted into rental income thus avoiding a lot of the 15.3% Self Em...
Michael Harris
Can you rent out your primary residence to your LLC for tax benef
I have a home I've been in for 5 years. I want to rent it out to my LLC, stay in the home, pay the rent and write off the expenses. Can this be done?
Connor Mckelvey
Finding a Tax Professional
I purchased my first investment property in April of 2019. Now that it is January 2020, I want to start getting everything prepared to file taxes. My main source of income is as a W2 employee through salary, bonus and...
Joel Gaytan
Capital Gains Tax Exclusion?
Hello everyone,I'm trying to find out if we qualify for the Section 121 Capital gains exclusion, so I hope someone can shed some light on this matter.We have a single family home which used to be our primary residence...
Mark Updegraff
capital gains / inheritance tax avoidance for future planning
I believe I read somewhere that if I hold rental property until fully depreciated and then die my heirs can sell the property and pay no capital gains on it whatsoever.
maybe this was continge...
Burt L.
What Are Other Downsides to a 1031 Exchange I Can Tell a Seller?
I've been speaking to a seller who relocated out of state due to work in June, 2011. He lived there for at least 2 years, so if he sells before June, 2014 he can avoid the capital gains tax. His current lease with ...