Caroline Gerardo
California Bill 1771 to tax you an extra 25%
Assembly Bill 1771 by Chris Ward will impose a 25% tax on all net capital gain from the sale or exchange of homes or properties. Qualified taxpayers who buy and then sell a house within 3 years need to pay the tax. Al...
Joe Chillinsky
CPA Input: Recognize Past Due Rent
Hey Folks, looking for a little knowledge: my tenant applied for a COVID rent assistance program in October 2021, they did not pay November/December 2021 rent. The COVID assistance program paid the rent amounts in Feb...
Account Closed
There's a better solution than a 1031 Exchange...
I really don't understand why so many people want to use a 1031 exchange strategy... My mentors showed me how to take ownership in trusts so that I have zero liability, a zero capital gains tax, pay zero tax on passiv...
Eddie Williams
"...a great real estate investment carries almost no risk"
That quote is taken from Gary Keller's excellent book, "The Millionaire Real Estate Investor". Do you guys agree with that?
Denise Evans
Alabama Tax Lien Sale Auction Season
Shelby County, Alabama kicked off the spring tax lien investing season with a bang on March 27, 2017. The big investors bid down redemption income to an average of 6% but that's still a respectable return in today's ...
Bill Exeter
IRS Issues Tax Relief for California Fire Disaster Victims
The Internal Revenue Service announced tax relief for Southern California taxpayers in the Presidential Disaster Area struck by severe wildfires beginning on Oct. 21, 2007.
The disaster area consists of the followin...
Arnold Finkelstein
Alabama Ejectment Question
When asking for a taxpayer to be served in an ejectement (Jefferson County), is one method of service (certified mail or sheriff) better than another?
Benjamin Sussman
Buying a property using my parents
Hi,Once I hit my limit of having 4 traditional mortgages, can I give my parent the money to have them buy a property under their name and then have them transfer the property into my LLC?Would they still be responsibl...
Nick Glatzer
New Tax law limits business or rental loss to offset W2 wages
I came across this statement in an article on the new tax law. "The new tax law restricts taxpayers from deducting losses incurred in an active trade or business from wage income or portfolio income and this will appl...
Chris K.
I prepaid 2018 property taxes. Mistake?
So, following the near unanimous advice of everything I could find, because I have well over 10k in state and local taxes (and will likely opt for the standard deduction under the new tax bill), I went down to the Cit...