Bear With Me...And Please Forgive My Tax Maze Ignorance

My understanding is that the basis of investments is stepped up at the death of individuals who execute transactions in a tax-efficient manner. For instance, t...

Me and my wife have a dual income, we are in our mid 40s, and have been maxing out our 401k contributions primarily to reduce our taxable income. Is it possible to roll over pretax income into real estate properties t...

Hi! I've searched around a ton to find a simple answer to this to no avail. Maybe because it's been hard to wade through the flood of information on depreciation and expenses.I wanted to know the strategy behind wheth...

Hello. I'm looking for some direction regarding specific real-estate deductions while working inside a solo 401k or self directed IRA LLC and working with a rehab on a buy and hold piece of property.  I plan on speaki...

If I owe $350k mortgage and I take out $100,000 HELOC and spend it on say a 6 month CD,
And then I sell the house for $700k
I would only have $250k profit right? Then I’d avoid capital gains tax in Massachusetts?

To the High W2 earning BP members out there, what strategies have you used to decrease your W2 taxable income? Depending on what state you earn your wages, income tax rates of 40-50% are unreasonable. Most of you like...

The question is, how would the following scenario impact taxes when filing the tax return the following year?SCENARIOGrantor deeds homestead property worth maybe 20k to person A. After some time, person A finds that t...

HELP OFFSET HIGH W2 INCOME! As the end of the year quickly approaches, I have maxed out my 401k and wife’s 401k and both IRAs. We have a primary residence and a Airbnb rental unit that we own and manage. We purchased ...

I bought my first property last year and I received a Notice of Assessment and Taxable Valuation letter about a month ago letting me know that the taxable value of my property is literally about to more than double th...

So I have been thinking about this for some time. It seems like everyone tries to do everything in their power to increase their expenses and write-offs in order to not show any income to pay taxes on for their busine...