Lauren Ascher
Tax Question re: 2 year exemption - CA
Hi all,I'm planning to sell a condo in Los Angeles. I sold my duplex for a profit on 10-1-15, and bought my condo on 9-4-15. When I sell my condo, what date of sale would qualify me for the two year exemption to not...
Ramon Smothers
I was granted a 50% Homestead Exemption
I own a duplex in which I live on one side and rent out the other. I just filed for my homestead exemption a year after purchase and was granted 50% because I occupy half of the residence! Has anyone ever encountered ...
Roland Wiederaenders
New Regulation D Rule 504 Securities Exemption
Raise $5 Million From Non-Accredited Investors Under Amended Rule 504On October 26, 2016, the SEC adopted final rules amending Rule 504 of Regulation D under the Securities Act of 1933, as amended (the “Act”). This am...
Corbin Brandt Daviston
Exempt on W2 to save for rental
I recently got the idea to go exempt all year on my W2 job and pay no state or federal tax. Save all that extra money & then use that extra income to buy a duplex. Using the cash flow from the duplex to pay back t...
Christy Osterkamp
Exemptions to Tennessee Franchise and Excise Tax
Hello Fellow BP'ers,
As a fairly new Tennessee LLC, we received a "final notice" from Tennessee Department of Revenue requesting $646 for Franchise and Excise taxes and late fees.
When I called the Dept of Revenue, ...
John Carbone
Selling a house hack and tax exemption
Does anyone know how a situation is handled where you have two structures on a property. Live in one structure for 2 years and always rent out the second structure. Then after two years rent out the structure being ow...
Garrett Crain
Subto Purchase with VA Tax Exemption Seller
Hello,I am looking at a subto purchase in Oklahoma. The seller is a veteran and qualifies for a full property tax exemption. Her mortgage statement is escrowed, this escrow pays the insurance only since she is exempt ...
Steven Embree II
VA Househack 1031 Exchange w/ 121 Exemption
Here’s the skinny:I am a veteran with a VA loan for a fourplex in which I reside in one of the units. I have lived here for three years, meeting the 2/5 year requirement for Section 121 Exemption. I am considering the...
Kate Struzenberg
Primary Home 2 Year Tax Exemption Question
I have been living in my primary for over 20 years. I have a 500K paid for primary home. If I sell and buy a new home for around 500K again, live for 2 years and it goes up in value to 750K. I sell again, what is m...
Kurt Gardner
Investment property tax exemptions or other reductions?
I searched the site for some basic information on this, and didn't see much in the specific area of exemptions, and that might be because there really isn't any (sad face).I do know the lot of you are much more intell...