Steve K.
Retroactive contribution disqualification in Self-Directed IRA
You all may know that you can make ROTH IRA contributions for year 2019 until July 14th 2020. Contributions can also be made for 2020 as well.2019 - We are about to make those contribution in 2019. Since our MFJ MAGin...
Julia Taylor
Rookie question on keeping proceeds from sale liquid
My husband and I sold our investment property and are about to close on selling our primary residence. We have not identified a new primary or investment property to purchase yet. We will have about $1.3M we want to k...
Wilson Vanhook
Do I qualify for 1031 exchange?
I have sort of a unique situation on hand and want to know if I am eligible to avoid capital gains on a property I am selling.I purchased the home as a primary residence in February of 2020. I moved into the home imme...
Robert Fountain
Seller sued title company for tax $$. Company wants me to pay.
Hi Everyone I'm looking for some advice on what I need to do regarding this issue:I bought a rental property on August 7, 2017. Today I received a call from my title company stating that the sellers hired an attorne...
Brendan Lawrence
Ethics and Legality of Tax Payment Purchasing
Hey Guys,
This whole tax lien thing really is interesting to me. I've got a question about it:
North Carolina for example, is one region I was just searching through delinquent tax payments. I'm going to assume th...
Caleb Webb
Capital gains question
I have a condo i bought about 8 years ago. I lived in it the first 2 years then had to move for work. I rented it out to a friend and have hardly made any profit after hoa and mortgage. It's worth about $150,000 more ...
Sergio Rodriguez
Should I owe Capital Gains Taxes if I lived in the house 3 years then leased 2 years?
Hello Friends, I purchased a house in 2017 and lived there for 4 years as my homestead's primary residence. Following that we moved out and turned it into a short-term vacation rental around April 2021 and the last ye...
Rick Barbato
Section 179 vehicle write off
Can anyone tell me what the “back in my pocket” amount I’d receive from using the section 179 vehicle tax deduction?For instance, say I purchase (for my business) a vehicle over 6000 gvwr, for 40k.If I’m able to write...
Eric Mcginn
Tax questions on LTR and title insurance settlement
Hello,
I’m dreading tax season because I’ve done pretty well this year. First question, is it too late to spend my money on repairs for this tax bill?Second question, do I have to pay taxes on a title insurance sett...
Kevin Gerace
carrying a house over into 2016
So I flipped my first house this year. (Yay) But it hasn't sold yet.(boo)So that means I'll be carrying it into next year. What is the process, or form, for doing this with my taxes.Here's my issue, I own my own elect...