Say we buy rental property and hold onto it for more than a year so it would be long term capital gain.And our filling jointly Income is around 50K.Would we qualify for 0% capital gain because we are in such a low tax...

While currently having a post tax Roth IRA and Pre Tax 403(b), I've always been more keen on the Roth and contribute more to my Roth (a lot more).  But, the more I'm learning about taxes and brackets in retirement the...

Is it beneficial to have an LLC before flipping and rehabbing homes? What are are some drawbacks you've encountered by not having an LLC established?

Hi, I'm looking at the Capital Gains Tax rate chart and can't find a clear answer on what is counted as "taxable income" which determines where you fall in the 0%-15%-20% brackets. Assuming I only have a job and a ren...

Seller is single and reports W-2 income of $10K.  Property being sold is non owner occupied inherited property, owned 10 years.  Never treated as income property as it was always vacant.  Property basis is $100K, prop...

I am looking to get my feet wet in real estate and found a property that is in need of renovations in western PA. One thing I'm trying to figure out is just how quickly can I flip it. From what I understand any profit...

Hi, I am asking a question for my father, his only income is social security, he gets $975 a month. He sold a collector car he's had for more than a year last month and he's made a capital gain of 30k, he wants to kno...

I'm trying to compare a full cash out vs a partial exchange. I have a good idea on what my taxes would look like with full cash out, but not sure about the partial exchange. Need help to approximate the tax hit on par...

Does anyone know what the taxes would be if the assignment fee is $5k? I haven't opened a business entity yet. Thanks

Well, not entirely, but you can shield more of it.

I'm going to use a very round and specific example to demonstrate this concept. Check my understanding of the tax law on this.

Let's say you make X a year. You ...