Andrew C.
what do you use to track FixedAssets for depreciation/amortization?
I'm using Quickbooks to track overall finances. So I have a FixedAssets account in the chart of accounts, but that's not really usable for tracking the per-item depreciation...there's no entry for when it was placed i...
J Campbell
Best way for my mom to transfer her house to me
Not sure what fortum to post this is so just dropping it here....just had the wonderful (sarcasm) discussion of how my elderly mom can best pass her house to her children when she passes. :(so im looking for info to...
Aaron Hunt
Can you gift part equity of a home each year to avoid gift tax?
Question for RE / tax gurus:If a property is worth $100k, can two parents gift 50% equity of a property to their child and their spouse in one calendar year (2018), and the remaining 50% of equity the following calend...
Ashish Acharya
Tax Tip on Student Loan
The SECURE Act now allows for 529 Plan funds to be used to pay up to $10K of student loans.
Open a 529Contribute $10K and take a state tax deduction. Most states. Distribute funds to pay off $10K of student loans. D...
Tonya Rasmussen
Lifetime estate gift tax exemption??
Aloha I have a complicated real estate, inheritance and tax issue I’m trying to solve.My current approach is to get info on how often you can disperse $ your children under the lifetime estate exemption of 11ish milli...
John Symington
Self Directed IRA - Owned by Traditional & Inherited IRA -
Hi Everyone;4 years ago, I created a self directed IRA through NAFEP (National Association of Financial Estate Planners) and AE&T (American Estate and Trust, acting as IRA custodian). I transferred both a traditio...
George Post
Parents Gift to Purchase a SFR- Taxable Earned Income?
Good Day!I have a client who is being gifted $170k to purchase an owner occ. SFR as a primary residence. The donor is her father who will also be living there as his primary residence, but will not be going on title. ...
Account Closed
Estate and gift tax in 2016
CPAs and the BP community with input/knowledge/experience with large monetary gifts:New Estate and Gift Tax for 2016Sometime in 2016, my wife and I would like to give my parents a large sum of $40-60k as a gift. I und...
Shawn Knight
Gift Tax Help Needed
Hi, I am working on purchasing my first multi-family investment property (4-units or less) in which I will be owner-occupied. I am needing to receive $200,000 in gift funds from my parents to add the down payment to m...
Marisa Alvarez
Changing Windows are the big stores too expensive ?
I need to change windows in a 2 bedroom Condo.Just have 1 bid from one of the 2 big stores (HD and LW ). 3 windows, Florida requirements hurricane etc.. 6.000 😱😱😱😱😱 They say they are the only ones who can offer double...