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When Do you think the best time would be to sell off a small portfolio? long story short, I will be starting grad school next year and will not be able to work while in school for the next three years. I am wanting to...
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Need an experts advise here...I have recently left a W2 income and began working as a Sole Proprietor. I had a 401K (25K) and ESOP (75K) (Employee Stock Ownership Plan) through my previous employment. The ESOP is bein...
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Considering purchasing my first rental property. Can anyone give me a brief description on the tax implications of owning a cash flowing rental property ? What are the pros and cons from a tax standpoint ?
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Hi BP community,Does gifting money reduce your taxable income? I know the limit is $15,000 for tax free gift, but does it reduce the gifter's income for that year? Say you make $90,000 and you want to find someway to ...
I am brainstorming and searching for ways to make seller financing (of a SFR) a win-win situation. Does anyone have any creative ideas?Scenario: The landlord is burnt out, near retirement and has some health issues. H...
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Hey all, I am looking at the Idea of selling our primary residence and buying another "house hack" option (unidentified) The House we are selling we bought last year for $49,000 for us to live in and then move out aft...
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Selling an investment property can result in significant capital gains taxes. To minimize this tax burden, consider the following strategies:1. Utilize a 1031 Exchange: Under IRS Code Section 1031, you can defer capit...
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Hey BP Fam,
I just got off the phone with my CPA and it sound like me and my wife's effective tax rate will be upwards of 23%!! When I first started in real estate last, everyone made it sound like an incredible tax ...
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For those who are lucky enough to make over $450k/year, what changes are you making?
From what I understand
1) tax rate goes up to 39.5%
2) you cannot take mortgage deductions anymore?
3) dividends from your corpor...
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Hi guys -Wanted to get your advice and/or personal experiences on how to properly save and grow your capital prior to making your first real estate investment. As a little background on me and my current financial pos...