Mary Jay
Is it a good idea to take advantage of a COVID 100K withdrawal?
Hey guys,So my 401K company says that due to corona virus I can take 100K withdrawal from my 401K and pay it off in 3 years. (If I dont pay it back then I will be taxed on it so its better to pay it back).1) Is that a...
Julio Gonzalez
BiggerPockets - Tips on How to Avoid an IRS Audit
When most of us think of having the IRS audit us, we get anxious. Audits can be very expensive, invasive and ultimately time consuming. Some audits are inevitable. However, there are multiple preventative measures tha...
Filak Thomas
Need a help with capital gain
I have a little house under contract for $ 155k I bought last year, fixed it and decided to sellAfter sell I will need to buy something else in order to avoid paying taxAlso I have a condo and hard money loanI paid fo...
Ravi Ramphal
HELOC used for 1031 exchange.
Hi, I currently own a property that I would like to take a HELOC in to purchase investment property. Does this strategy avoid paying capital gains due to 1031 exchange ?
Gustavo R.
Avoid double taxation while flipping in Baltimore but residing in Canada
Hello guys! Glad to be part of this community.
I live in Toronto, Canada but I'm starting my first flip now at the end of September in Baltimore/MD, closing is September 20th. The reason why I decided on Baltimore is...
James McCarthy
401k Hardship Withdrawal Under Coronavirus Cares Act
I've been practically day trading in my 401K to reduce the losses from this mess, moving funds back and forth between stable value to stocks a few times a week. So far it has been working very well but one of my trade...
Alex Yakubovich
Backdoor Roth IRA and Pro-rata Rule
Hello everyone!Could you please help with my situation? I want to do a Backdoor Roth but I have pre-tax money on my trad IRA and I don't understand whether the pro-rata rule could be avoided if I do the following:1) A...
Jason Scott
Stocks to real estate investments tax implications???
Is there a way to avoid capital gains tax when trying to take money out of stocks and reinvesting into real estate?
NIcholas Hamel
Capital Gains on your primary residence?
Hey everyone, had a debate with someone recently and I wanted to verify with all of you. I was told you have to pay capital gains tax on your primary residence and that you can only do a one time tax break to avoid i...
Matthew Nelson
100% DV in Texas: Property Taxes on Multi-family?
Can you “house hack” a 2/3/4 unit multifamily as a 100% VA-disabled veteran in Texas and avoid paying property taxes if it is your primary?
As a disabled veteran, with a combined 100% rating through the Department of...