we will be equal partners all initially investing the same amount of money. I was thinking of going the GP route since we will all be managing the daily operations of the business in one way or another. but I woul...

My kids have lived in their house for a year and are now looking to sell. I thought if they put the profit of their current home rolled over into their next, more expensive home, they wouldn't have to pay taxes. ...

HelloI’m currently in the process of selling a home and am under contract to purchase another home using 1031 exchange.The home I’m selling is under mine and my wife’s name personally. I understand to compete the 1031...

I have a question regarding a 1031 exchange.   I just purchased my first flip and should make a nice return on it.  My question is, with a 1031 exchange do I have to find a brand new property or can I use the proceeds...

Guys, we know that 20% applies to the Qualified Business Income (QBI). Let's ignore service businesses, phaseouts and all other complications. Let's take a wholesaler netting $100k. So, he just gets a $20k below-the-l...

Hello,I have heard of leasing your short term rental to another LLC that you own in order to minimize tax liability from a video that I watched, but there was no information given on why this is advantageous or the me...

I'm about to make over 500k on the sale of my home.  It's been owner occupied for the past 2 years and my income in '18 and 19 has been very low.  Under 20k.With that low income, can i still be charged capital gains?I...

This maybe a complicated question. I have a house I have owned for over one year and have my eye on a off market triplex. The same seller I purchased a 4 plex from a couple years ago. It is a run down property again a...

Lets assume a Scenario: A new investor who invests $150K on a first rental property. No other retal or home mortgages.
IRS: US govt already allows a "Standard Deduction" of S24,400 (Married joint filing). The other o...

Hello!Quick question regarding depreciation recapture.  I was thinking about selling a two family house I own in Somerville, MA while my 2/5 year owner occupant tax exclusion still applied for half of the house.  I de...