Carl Shorett
Primary Residence 121 + 1031
I am looking to purchase a house from someone who has owned the property for 20+ years. Their cost basis is ~$250K and the home is now worth ~$2.5MM. This is their primary residence so they qualify for the $250K Secti...
Jan Boldt
Gifting investment Real Estate questions and comments + deductible carry-forward?
Domicile: WA State (income tax free)Property location (Texas): (income tax free)LT gains + Depreciation recapture ~ $300k on a $500k income property ~effective / average tax rate = 12% for past umpteen yrs (relatively...
Seidy Lasker
Roth 401K transferred to regular 401k?
I was wondering what the tax consequences would be if a Roth 401k is transferred to a regular 401k or is that not possible? And what are the future ramifications when withdrawing from the 401k since part of it should ...
Ian Berg
Trading property tax strategy?
I'm purchasing a 2 acre development property from an older lady who has lived there as her primary residence for 20+ years. She wants $1.5M for it which is a fair price. She wants to buy a duplex with part of the proc...
Rose Kabu
Attorney
I am looking for an Attorney to review an Operating statement for my Self directed IRA in the Tampa, FL area. Does anyone have recommendations on one who will turn things around fast? I already have the document in pl...
Michael O'Driscoll
Primary Residence -> Rental--> 1031 exchange
Question regarding when is your property considered an "investment property." Say I have property #1 as my primary residence. I then decided to rent it out. I buy property #2. This is now my primary residence. How lon...
Eric Shore
Living in a business investment property
I have owned a single-family residence for the past 16 years and rented it out for the fist 11 years. 5 years ago, as a business investment, I decided to tear down the property and build a new home for sale at a profi...
Rich Weese
4th obstacle to creating real wealth
And by far, is income taxes. I know there are tremendous legal methods how to not pay income taxes, or to pay very little. Judge Learned Hand(his real name!) once said in a court case " it is the right of every Americ...
Colin Smith
Long Term Rental - Would you keep it?
I am trying to decide whether or not I should keep a single family home or sell it and am looking for advice. Here is the background story.I bought this house as my first home borrowing the down payment from my parent...
James Hiddle
Interesting Article
http://finance.yahoo.com/news/new-american-dream-is-renting-to-get-rich.html