Lori Vines
Giving a home to a non family member, are there tax implications?
situation: Friend is considering giving another friend a house, they have no family relation (but are close like family-obviously) ..... before proceeding they're both asking if there is a gift tax or any tax implicat...
Nathan Letourneau
Tax implication for rental - insurance payout-work not completed
Had hail damage to rental properties in 2017. Received checks from insurance for cash value in 2017. Started to get one property repaired before winter, but it will be finished this spring. The other properties have...
Carey L Rouse
Gain and tax implications with selling your wrap note
What are the gain or tax implications with selling my wrap note? I'll provide an example to explain. Lets say I get into a rehab project. I pay 40k for the house and 20k for the repairs and eventually refinance int...
Jenny L.
Need CPA insight on this deal structure/tax implications
Looking to tax pros for their input on this -- thanks in advance for your help! We are trying to find a way to creatively finance a rehab and resell deal.What we’re thinking would be structured like this:Elderly mothe...
Matthew Branton
Investing in Canada Multi-Family - Tax Implications and Strategies
Hi everyone, I'm an American looking at some property in BC, but I'm having a little trouble getting a handle on the tax implications. I have gotten as far as figuring out the 25% standard withholding tax, and filing ...
Jo Jennings
Tax implications for deciding not to rent out property
We are in the process of buying our first investment property. We aren't going to do this as a regular thing. Our situation is that we wanted to purchase a home in the area we want to move to in a couple of years and ...
Ellen Xu
Tax implications of closing cost of cash out refinance?
I refinanced my residence last year to get cash out to buy an investment property, so I have two closing costs: one for refinancing my residence to get money out, the other for buying the investment property. Could I ...
Paul Hutton
borrowing cash from my corp.for rental purchases tax implications
I borrowed cash from my canadian corp to buy rentals all cash in the florida market. I will wright up a loan to myself from the corp to an interest rate that will completely offset any tax owing at years end from the ...
Dee Jay
Tax implications: using rental property in LLC for family
We have a rental property owned by our partnership LLC that has been rented out for the past few years. We plan to use this property for our family at no charge/no formal lease for the next few years with the potenti...
Billie Joe
Tax Implications of Separating Real estate from Business LLC
My mother and I purchased a rental property last year, we are 50/50 owners. We paid cash for property at 22k, put some work and money into it, and it's been valued by the auditor at around 45k before improvements (how...