2,684,209
I don't know, but the guy went totally blank for 8 seconds during a presser today.
-
Eve Alexander
Tampa, FL
-
Debra Leisek
Homer, AK
-
Bruce Walter
West Lafayette, IN
-
Candice A. Donofrio
Fort Mohave, AZ
-
Celia Moore
Portland, OR
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
-
Lyn Sims
Schaumburg, IL
-
Kris Collis, Associate...
East Stroudsburg, PA
-
Nina Hollander, Broker
Charlotte, NC
-
Buzz Mackintosh
Frederick, MD
-
John Juarez
Fremont, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Kathleen Daniels, Prob...
San Jose, CA
3,345,257
💩💩💩💩💩💩💩💩💩💩
💩💩💩💩💩💩💩💩💩💩
💩💩💩💩💩💩💩💩💩💩
💩💩💩💩💩💩💩💩💩💩
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Eve Alexander
Tampa, FL
-
Debra Leisek
Homer, AK
-
Bruce Walter
West Lafayette, IN
-
Caroline Gerardo
Newport Beach, CA
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Buzz Mackintosh
Frederick, MD
-
John Juarez
Fremont, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Endre Barath, Jr.
Beverly Hills, CA
-
Celia Moore
Portland, OR
-
Pete Xavier
Pacific Palisades, CA
-
Katina Hargrove 352-55...
Eustis, FL
-
Kathleen Daniels, Prob...
San Jose, CA
628,914
Sleepy Joe is looking for money in all the wrong places, not sure this will gain the support for the votes needed to pass !🤮
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Eve Alexander
Tampa, FL
-
Will Hamm
Aurora, CO
-
Celia Moore
Portland, OR
-
Buzz Mackintosh
Frederick, MD
-
Kathleen Daniels, Prob...
San Jose, CA
-
Fred Griffin Florida R...
Tallahassee, FL
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
-
Lyn Sims
Schaumburg, IL
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Brenda Mayette
Glenville, NY
-
Nina Hollander, Broker
Charlotte, NC
3,587,960
Ditto what Kathleen Daniels, Probate & Trust Specialist said.....triple it!!!
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Will Hamm
Aurora, CO
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Buzz Mackintosh
Frederick, MD
-
John Juarez
Fremont, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Endre Barath, Jr.
Beverly Hills, CA
-
Celia Moore
Portland, OR
-
Kathleen Daniels, Prob...
San Jose, CA
938,637
Celia, I am more concerned about the proposed ending of the step up basis at time of death, for the family farmers in our state. Multi-generational farmers who bought farm ground before the 1970s have a very low basis at purchase of well under $1,000 an acre.
So if an heir inherits an 800 acre farm and it appraises for $11,000 an acre as many have in the past two years and the basis is $1,000 an acre as it was bought in the late 50's, that heir is an instant millionaire as far as the tax code goes. Even with the proposed $ 1 million dollar exemption for a single filer that individual will have a tax bill on the $9 million "profit" even though the heir did not sell the farm ground and wanted to keep it in the family but cash rent it out, as he is not a farmer like dad. With the proposed re-instatement of the top marginal rate of 39.6% the heir would have to sell about 350 of the 800 acres just to pay the tax bill if he/she does not have over $3,000,000 sitting in the bank to pay the tax bill. Multi-generational farmers are not using the 1031 exhange to dodge taxes as they buy and hold the land. Many of the smaller family farm owners tell me that if you own under 500 acres it is hard to make a profit many years so they have to cash rent more acreage for the economies of scale to work.
Now if my progressive friends want to hit BIll Gates and his soon to be ex-wife and tax their 242,000 acres of farm ground without a step up, then set the exemption limit to $20 million for any reason and that would protect the family farmers as most family farms are well under 2,000 acres.
Family farmers who bought their land generations ago and who have kept it are not using the 1031 to dodge taxes, they just want to pass the family farm on to the next generation. There is a provision if the heir actively farms the property there is an exemption for that, but if the family heirs have a career and want to keep the farm and cash rent it that does not appear to be exempted.
Depending on the deceased's estate situation there could be a hefty estate tax as well further reducing the amount of farm ground passed on to the heirs if the farmer is cash poor like so many who live on credit year to year to get the crop in.
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Celia Moore
Portland, OR
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Debra Leisek
Homer, AK
-
Candice A. Donofrio
Fort Mohave, AZ
-
Kathleen Daniels, Prob...
San Jose, CA
-
John Juarez
Fremont, CA
-
Fred Griffin Florida R...
Tallahassee, FL
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
-
Wanda Kubat-Nerdin - W...
St. George, UT
5,217,433
Kathleen Daniels, Probate & Trust Specialist politely posed my opinion. Nuff said.
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Bruce Walter
West Lafayette, IN
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Celia Moore
Portland, OR
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Kathleen Daniels, Prob...
San Jose, CA
-
John Juarez
Fremont, CA
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Nina Hollander, Broker
Charlotte, NC
-
Buzz Mackintosh
Frederick, MD
3,126,213
What Kathleen Daniels, Probate & Trust Specialist said! Hear, hear!
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Bruce Walter
West Lafayette, IN
-
Will Hamm
Aurora, CO
-
Celia Moore
Portland, OR
-
Kathleen Daniels, Prob...
San Jose, CA
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Buzz Mackintosh
Frederick, MD
-
John Juarez
Fremont, CA
68,207
Ron and Alexandra Seigel very true.. I know the FEA and its allies across the country will be working diligently to preserve 1031s in their entirety. The $500k number is also interesting because if you look at the universal exclusion for a married couple, it's also at $500k. In 1997 that meant something... today that means nothing.
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Will Hamm
Aurora, CO
-
Fred Griffin Florida R...
Tallahassee, FL
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Buzz Mackintosh
Frederick, MD
-
John Juarez
Fremont, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Kris Collis, Associate...
East Stroudsburg, PA
5,772,575
Celia,
The real question is will this pass? A
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Kathleen Daniels, Prob...
San Jose, CA
-
John Juarez
Fremont, CA
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
-
Brenda Mayette
Glenville, NY
-
Nina Hollander, Broker
Charlotte, NC
-
Buzz Mackintosh
Frederick, MD
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Celia Moore
Portland, OR
693,775
I can't say what I think out loud. I better hurry up and get my last 1031 exchange done soon. I can't have a property left in CA any more.
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Debra Leisek
Homer, AK
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Bruce Walter
West Lafayette, IN
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Will Hamm
Aurora, CO
-
Candice A. Donofrio
Fort Mohave, AZ
-
Celia Moore
Portland, OR
-
Kathleen Daniels, Prob...
San Jose, CA
-
John Juarez
Fremont, CA
-
Fred Griffin Florida R...
Tallahassee, FL
1,311,772
It seems the proposal is designed to protect small investors and impact large investors.
In any event, I am not on board with any change to the current 1031 law.
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Bruce Walter
West Lafayette, IN
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Will Hamm
Aurora, CO
-
Celia Moore
Portland, OR
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Kathleen Daniels, Prob...
San Jose, CA
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Nina Hollander, Broker
Charlotte, NC
1,196,798
The government always looks for a way into the wallets of it's citizens
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Bruce Walter
West Lafayette, IN
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Will Hamm
Aurora, CO
-
Celia Moore
Portland, OR
-
Kathleen Daniels, Prob...
San Jose, CA
-
John Juarez
Fremont, CA
-
Fred Griffin Florida R...
Tallahassee, FL
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Ray Henson
Elk Grove, CA
5,104,931
I couldn't have said it better than Kathleen Daniels, Probate & Trust Specialist and Ken Jones
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Celia Moore
Portland, OR
-
Buzz Mackintosh
Frederick, MD
-
Kathleen Daniels, Prob...
San Jose, CA
-
John Juarez
Fremont, CA
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
-
Wanda Kubat-Nerdin - W...
St. George, UT
2,781,313
The whole picture remains obscure. We the public are never told the whole story nor do we have access to it. Also, be assured behind all this are carefully thought out outcomes. Are we agasint change or the actual proposals is my question. Either way, this is not for or of the people
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Will Hamm
Aurora, CO
-
John Juarez
Fremont, CA
-
Fred Griffin Florida R...
Tallahassee, FL
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
1,153,794
It's never a good idea to step on the toes of nearly all of your peers.
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Will Hamm
Aurora, CO
-
Candice A. Donofrio
Fort Mohave, AZ
-
Ray Henson
Elk Grove, CA
-
Celia Moore
Portland, OR
-
Kathleen Daniels, Prob...
San Jose, CA
-
John Juarez
Fremont, CA
4,457,365
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Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Anna "Banana" Kruchten
Phoenix, AZ
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John Juarez
Fremont, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
1,544,068
It's ridiculous for CA. It's bad for all 50.
This will hurt the business of real estate, they already triple tax landlords
(state & fed income taxes + property taxes) in CA, now they want to hit us on the back-end too. The government is systematically killing real estate entrepreneurs. They may create more unaffordable-to-most rentes- inventory, but lessen rental options-there by raising prices...to what end?
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Fred Griffin Florida R...
Tallahassee, FL
-
Ray Henson
Elk Grove, CA
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Celia Moore
Portland, OR
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John Juarez
Fremont, CA
-
Thomas J. Nelson, REAL...
La Jolla, CA
1,844,301
I think it's harmful but I'm sure NAR is going to fight this tooth & nail.
500K is not enough.
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Will Hamm
Aurora, CO
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Celia Moore
Portland, OR
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John Juarez
Fremont, CA
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Ray Henson
Elk Grove, CA
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Doug Dawes
Topsfield, MA
921,504
The Fed in DC are on a spending spree. In case you lost count it at 10 Trillion in unfunded spending. Now they need to find the money.
Take a look at who was seated behind Bidden during his speach. Those two have in the crosshairs anything where the prodominate participation is white males. And in thus case, investor Types represent those wealthy who our socioalist leardership PROMISED to tax more.
Who is next? At some point the wealthy will be all who are not being paid on a W2 basis. That would include 99% of real estate agents.
As Bob suggests, a Plan B may be a good idea when we see the avalanche coming.
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Celia Moore
Portland, OR
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John Juarez
Fremont, CA
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Fred Griffin Florida R...
Tallahassee, FL
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
6,393,609
Smart investors will find a way around this.
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Celia Moore
Portland, OR
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John Juarez
Fremont, CA
-
Ray Henson
Elk Grove, CA
-
Doug Dawes
Topsfield, MA
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Wanda Kubat-Nerdin - W...
St. George, UT
1,503,048
This will kill the 1031 market in California. Not much under 500k out here any more.
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Fred Griffin Florida R...
Tallahassee, FL
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Will Hamm
Aurora, CO
-
Ray Henson
Elk Grove, CA
-
Celia Moore
Portland, OR
467,000
Like Kevin O'leary says "P on a stick" When
"Robinette"
speaks or does something.
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Ray Henson
Elk Grove, CA
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Doug Dawes
Topsfield, MA
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Wanda Kubat-Nerdin - W...
St. George, UT
-
Celia Moore
Portland, OR
7,836,623
Let's see what actually passes.
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Will Hamm
Aurora, CO
-
Ray Henson
Elk Grove, CA
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Celia Moore
Portland, OR
4,936,727
Sure NAR will figure this.
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Celia Moore
Portland, OR
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Will Hamm
Aurora, CO
2,182,552
He himself would not be able to process what you are talking about . So just who is pulling the Strings ???
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Celia Moore
Portland, OR