247,599
After getting a $40,000 tax tab from Uncle Sam one year, I opened up a Roth IRA and do all my flipping in that account. Put post tax money in and never have to pay any taxes when you take out your profits in retirement.
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Kathleen Daniels, Prob...
San Jose, CA
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Sam Shueh
San Jose, CA
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
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Bob Crane
Stevens Point, WI
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Lyn Sims
Schaumburg, IL
3,345,091
The solution I used is to recommend clients consult with a tax attorney or CPA.
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Debe Maxwell, CRS
Charlotte, NC
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Bob Crane
Stevens Point, WI
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Debbie Gartner
White Plains, NY
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Lyn Sims
Schaumburg, IL
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Inna Ivchenko
Encino, CA
2,684,109
IRC Section 1031 for rental/investment properties.
For personal residence, the IRS homestead exemption.
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Candice A. Donofrio
Fort Mohave, AZ
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Debe Maxwell, CRS
Charlotte, NC
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Anthony Acosta - ALLAT...
Atlanta, GA
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Bob Crane
Stevens Point, WI
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Ron and Alexandra Seigel
Carpinteria, CA
5,772,575
Margaret,
There is always the 1031 exchange, and I am also seeing whole industries moves out of California. Carl's Jr who was headquartered here in Carpinteria has gone to Idaho...A
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Candice A. Donofrio
Fort Mohave, AZ
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Debe Maxwell, CRS
Charlotte, NC
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Anthony Acosta - ALLAT...
Atlanta, GA
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Bob Crane
Stevens Point, WI
2,220,654
If you are worried about capital gain taxes, look into 1031 Exchange.
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Anthony Acosta - ALLAT...
Atlanta, GA
6,393,494
I am a responsible citizen and am happy to share my gains, irritates me that that guy in the white house brags about not paying his taxes.
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Joseph Domino 480-390-...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
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Bob Crane
Stevens Point, WI
1,622,432
A question for a CPA or tax attorney.
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Bob Crane
Stevens Point, WI
7,836,139
This is a duplicate question.
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Bob Crane
Stevens Point, WI
3,164,294
nope. I just pay my taxes and move on.
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Bob Crane
Stevens Point, WI
4,272,548
Not at my age..
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
1,543,823
Nope.
I use 1031 Exchange vehicles. But, I'm a Realtor not a Tax Man nor CPA so I don't offer any advice regarding the topic.
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
1,598,452
For sure, a lot to learn about this subject and great answers.
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Evelina Tsigelnitskaya
Sunny Isles Beach, FL
2,071,025
So many great answers. I hope one of them was right for you.
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Valeria Mola
Sunny Isles Beach, FL
1,239,901
Long term capital gain from holding more than 1 year. The tax rate has significantly reduced to like 20%. Those who do not want to pay tax do not waste your precious time. They think they will never pay tax after they are gone. Sorry, IRS will be after their soul.
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Candice A. Donofrio
Fort Mohave, AZ
3,988,007
There are ways to defer and protect gain. The 1031 tax exchange I am familiar with but I would refer the client to a tax expert to strategize.
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Nina Hollander, Broker
Charlotte, NC
5,230,113
Personally, I would do a 1031 Exchange but, would certainly consult my financial planner & CPA before doing anything that impacts my taxes or retirement.
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Nina Hollander, Broker
Charlotte, NC
5,868,554
I am seeing many of my clients selling their investment properties this year, and always encourage them to do a 1031 exchange, but speak with their tax professional first.
1,502,998
3,071,489
4,800,082
4,434,127
5,104,931
I've yet in 25 years to run across a capital gains problem with one of my sellers. That being said, this is an issue for which advice should be given by tax, financial advisor, and accouting professionals.
4,319,419