Good Afternoon BP!I need some help. I am drawing a blank on the name/category of tax break individuals can receive after selling a home for a gain as long as it is their primary residence for 2 of the last 5 years at ...
Take advantage of depreciation: Depreciation is a tax deduction that allows you to recover the cost of your investment property over its useful life. By taking advantage of this deduction, you can reduce your taxable ...
My wife and I are in the process of closing on a third property we use for short-term rentals. We're in a vacation area, typical high prices / high nightly rates scenario. Our original two rentals are filed on a sch...
So I did my first flip. Worked out great. Bought it for $225k. Put another $125k in it. Sold for $450k. 6 Month time frame. Now... it's treated as a short term capital gain..... what can I offset it by? If I bought a ...
hey all. I need the wisdom of this ever so intelligent website to answer some questions for me. My real estate agent, lawyer, and estate planner do not have a good enough response for this so I was thinking of reach...
Hello, is there a strategy to avoid taxes on rehab flips? I've heard you could 1031 your profits into another house, but I'm not sure if this is the smartest way to go about. Please advise on taxes for profits made ...
I was wondering if anyone had info on reinvesting crypto profits to avoid capital gains tax. Can you buy real estate in opportunity zones to defer gains tax? Thanks!
Hi Everyone, I need some advice on structuring the LLC's and cost benefits. I'm a California resident planning to live here for at least the next 10 years. I currently own two properties in Indianapolis approx 50k ea...
Thinking of buying land and building a sfh and selling immediately after. How do developers avoid Capital gains taxes? WhAt is the best way to go about this to sell the home for a profit?
Thanks!
It is my understanding that if an LLC is formed in Nevada and I buy property in another state I will have to register as a foreign entity. I believe that in CA this is the same annual fee, 600.00 that is charged to a...