Phuong Dinh
IRC SECTION 408 IRA Mutual FUNDs
HelloCan someone help explain the process of using IRC Section 408 to buy investment property. I have some money in my mutual fund with Vanguard that i want to use for a down payment on a rental.any suggestion would b...
Patrick J Leary
Converting a condo from personal to rental use
Because of a need for more space I have moved from a one BR condo I have owned for the past 12 years. I am seeking tips on the tax and administrative aspects as depreciation schedule of placing it for rent.
Debb Childs
Buying house investments with Roth IRA
It was suggested that I take my RothIRA and put it in a custodial account and use it to purchase homes to flip? What do you think?
Marija Petrovic
LLC Transformation - from partnership to single member
I have a questions hopefully someone can help me here, I am transforming LLC from partnership to single member, on state level is fine, but I’m intrested on what to do on federal level? Do I need to dissolve entity an...
Harold Gontz
S-Corp still valid for use?
I created an S-Corp in PA in 2007. I used it for a couple years. All I've been doing for 3-4 years is filing the zero activity state and federal tax return. Is this entity still a legal entity in PA or do I need to st...
Corey Dutton
Who Took the Most Bailout Money from the Fed?
Bloomberg just published a great article that I wanted to share with you all that is titled, ‘The Fed’s Secret Liquidity Lifelines.’ From August 2007 until April 2010, the Fed pumped $1.2 MM in bailout money to banks...
Bill Exeter
GOOD NEWS! HOUSE WAYS AND MEANS COMMITTEE MARK-UP RELEASED
GOOD NEWS! HOUSE WAYS AND MEANS COMMITTEE MARK-UP has been released. At this point, here is what we know:
1031 Exchanges were NOT included in the mark-up, so no changes to 1031 Exchanges. The step-up in cos...
Rick Rochon
$1m in equity, what to do?
Hey All,I would love some thoughts on the following. I have a nice portfolio of properties that I have acquired over the years. Let me frame this by saying I don't have any heirs to whom I want to leave a large estate...
Celia Moore
New Threats to Section 1031 Like-Kind Exchanges...
In our almost 30 years of time in the 1031 Exchange business, we have had at least a half dozen serious attacks on Section 1031’s existence. Although the 1031 Exchange has been in existence for almost 100 Years, it is...
Mark Hu
tax impound account abuse?
Our lender is impounding money for our property tax bill on our new condo. I've been checking up on them, and was recently astounded when they told us they would not be paying our supplemental tax bill (the difference...