James Boreno
Do I have to pay Capital Gains?
Hello BP Fam,One of my SFH caught on fire and I'm in the process of selling it to a contractor. Had a quick question.I purchased the property for $500K about 10 years agoI'm selling the property for $575K with the Fir...
Payman A.
Capital Gains/Dep Recapture If Not Above 2nd Tax Bracket
Hi all. So after looking through pages of previous posts/replies, I did not find a topic that covers my exact question so I'm submitting this one.Can someone please clarify how capital gains and depreciation recaptur...
Bernie Huckestein
IRA Non-recourse calculator
I am looking for (or looking to create) a spreadsheet to make financial projections on use of SDIRA funds -- does anyone know where I might start...here is my general thoughts / situation but I'd like to find/create a...
Lewis Kerwin
Why are property tax estimates so variable?
I'm in contact to buy a property in Redford Michigan. I noticed today that the seller's listing shows previous year tax of $907 but an estimate of $3200(!). Have been trying to use calculators online and am pretty con...
Courtney M.
Michigan property tax estimation tool
Last year I received a nasty surprise when my Westland, Michigan mortgage jumped $143/month. This was due to the new property tax assessment. Unfortunately this happened just after I re-signed my current tenant for an...
Account Closed
Am I doing the tax math correctly?
Hi All,I want to confirm if I understand tax implications of a rental property correctly. The biggest confusion point for me is if rental income is taxed on gross income or net income (I think it's gross?)Here's an e...
Ali Hashemi
Tax implication of selling one property from commercial loan
I have multiple duplexes under a single commercial portfolio loan. I'm interested in selling one of the properties and leaving the loan intact. If I sell one of the properties is it considered 'taxable gains'? My goal...
Ashton Ferrazzo
Depreciation = 0 Taxes (Conceivably)??
Hello folks!Can someone tell me if I am thinking of depreciation and write-offs in the correct manner for rental properties? I was trying to envision a scenario where someone could potentially have (close to) $0 tax l...
Horacio Gutierrez
Calculating taxes with capital gains tax
Hello On a high level view how is capital gains calculated in regards to taxes as well ordinary taxes. Do you first get salary from work for the year and make some standard deductions and then see what ordinary tax br...
Jessica Seppo
Tax question on selling previous primary residence
Hello All,My husband and I go back and forth about selling our previous primary residence depending on the market come July 2021. We lived in it for two years and once the current tenants lease is up in June 2021 we m...