I am in the middle of a Live-in flip (purchased in October of 2019).My original plan was to wait 2 years to avoid capital gains taxes. I am just worried that we are in a bubble and I want to capitalize before it pops...
If you purchase an existing LLC that holds real property do you avoid transfer tax?
Do you keep the existing basis?
If anyone has done this an can elaborate on The pros / cons I would appreciate it. I'm going to co...
Any one doing it this way if so, any good info or lessons learned would be appreciated.Had our LLC few years, (stagnant/not used), have not selected S-corp or C-corp with IRSFrom what I gather best form will be S-corp...
I use private funding on all my purchases and typically I issue a mortgage and promissory note but amazing New York decided that they want to have a "mortgage tax". My thought is to use a rental property I own free-...
Assuming I'm a Canadian resident for tax purposes, to buy US property would it be better to incorporate in US, incorporate in Canada or avoid investing in US all together and why?
Good afternoon,i am wondering if anyone could share their experience about transferring funds of a rollover IRA from one custodian to another; wherein funds via check. I plan to utilize the funds and deposit it to t...
I'm in year 5 of real estate investing. I've told my wife that I only want to own properties in states that don't have income tax. The same goes for our personal residence.
I've heard stories of investors, for ex...
Hey guys,
I'm looking to buy a single family home in fairfield county in connecticut. It's about 50 minutes drive (assuming no traffic) to NYC so property ...
I am considering moving into one of my rental properties to avoid paying capital gains taxes. It is worth about 275k more than I have in it. I have rented it for the last 8 years. How long would I have to live in it t...
Mom is getting older and it likely makes sense for her to move out of her house. She is retired and her income is low. I'm exploring the possibility of buying a house and "renting" to her. Trying to figure out the ...