Blake Mgbada
Avoiding Capital Gains Tax
Does this situation sound feasible?Let's say I completed a live-in-flip as a single person. When I sell my house, I have over $300k profit. I have to pay capital gain tax on the $50k surplus. What if I refinanced for ...
Chris Springer
Avoid double transfer tax?
I am trying to get to the bottom of this... Have not found a solution on the forums. I want to avoid double transfer tax in PA for a wholesale deal. I was told by a title company that I can use a novation agreement at...
Toby Copeland
Avoiding Property Tax Reassessment
Hello All,This is my first post and it’s a doozy. My Father in law purchased his home back in the 80’s. It’s in California and the tax basis is quite low. The home is owned in a Trust and his 4 children are the ...
Brian Ellis
Avoiding Capital gains tax
Hello friends,
What are the rules to avoiding capital gains tax?
I believe it’s a minimum of living in a primary residence for two years. But what about turning it into a rental after the 2 years?
My first house I ...
Keith Meyer
Avoid Property Tax Reassessment
I'm looking for way to avoid triggering a property tax reassessment upon a potential purchase of a Multifamily property. The property was last assessed in 2016, and is still taxed at far below market value. This speci...
Account Closed
Avoiding Taxes On Flips
Hey BP,Does anyone have advice for mitigating taxes on fix and and flips?
Tyler Wagner
Avoiding Capital Gains Tax
Hello!I am a first time house hacker. I will be closing on my duplex soon with a fha loan. I will be renting out my current primary residence and moving into one of the units of the duplex while renting the other side...
Account Closed
Avoiding Property Gains Tax
Hello everyone. We are in the process of developing a few commercial acres. We have two buildings going up that will be offered for sale or lease. This is not our main business. If we were to find a buyer for the prop...
Kevin Lewis
Avoiding capital gains tax
I took out some equity on one of my investment properties in 2015 and I am going to use it to put a down payment on another investment property in 2016. Can I do a 1031 exchange for this transaction and, if so, do I s...
Kyle B.
Avoiding Self Employment Taxes
I wanted to see if anyone has been able to (legally) avoid paying self employment taxes on the profit from their flips. I met with an accountant and he said I would have to pay a 15% tax for self employment - essentia...