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tax implications

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    Second Home vs Investment Property: IRS Tax Rules

Second Home vs Investment Property: IRS Tax Rules

By Ilyce Glink| 2020-06-01T10:40:00-05:00 June 1st, 2020|

Second home vs investment property: IRS tax rules. If a property was used as both over time, what are the tax implications when the property is sold? Q: I read your article on avoiding capital gains tax on second homes in our Sunday paper. I have a question that is along those same lines, except [...]

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    Revocable vs Irrevocable Trust: Which is Better

Revocable vs Irrevocable Trust: Which is Better

By Ilyce Glink| 2020-05-28T16:13:23-05:00 May 28th, 2020|

Revocable vs irrevocable trust: which is better. The difference between revocable and irrevocable trusts and the purpose each serves in estate planning. Q: I am divorced and have two grown daughters. I am placing my house in a trust. My attorney is recommending an irrevocable trust. Which do you prefer, revocable or irrevocable and why? [...]

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    How Do I Take Property Out of an LLC?

How Do I Take Property Out of an LLC?

By Ilyce Glink| 2020-04-30T12:32:03-05:00 April 30th, 2020|

How do I take property out of an LLC? This reader wants to know how to take their house out of an LLC that’s in administrative dissolution.  Q: I hope you can help me with this mess. I have an ex-partner who talked me into putting my house into a limited liability company (LLC) with [...]

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    What Are the Property Tax Implications of Dissolving an LLC?

What Are the Property Tax Implications of Dissolving an LLC?

By Ilyce Glink| 2019-09-26T13:33:21-05:00 September 26th, 2019|

What are the property tax implications of dissolving an LLC? How will taxes be affected if this reader dissolves the LLC the rental property is held in? What Are the Property Tax Implications of Dissolving an LLC Q: I own a rental property that I put into a limited liability company (LLC). Now, I’m planning [...]

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    Should You Put Your Rental Property in an LLC?

Should You Put Your Rental Property in an LLC?

By Ilyce Glink| 2019-07-19T09:49:05-05:00 July 19th, 2019|

Should you put your rental property in an LLC? These parents want to transfer a rental property to their son's LLC and want to know about tax implications. Q: We are subscribers to your YouTube channel, Expert Real Estate Tips. Thanks so much for sharing such good advice.  I’d appreciate if you could advise us [...]

  • starting a home based business starting a business from home
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    Starting a Home-Based Business? 4 Things You Must Know

Starting a Home-Based Business? 4 Things You Must Know

By Ilyce Glink| 2017-09-07T13:29:55-05:00 October 21st, 2016|

If you’ve ever thought about starting a home-based business, you know what an attractive idea it is. Plenty of profitable companies start out this way, but it’s not as simple as just having a great product or service.  Even if you’re only using your home (or maybe even the garage) to launch the company, you’ll [...]

  • selling rental home tax implications 1031 exchange
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    Selling a Rental Home: What Are the Tax Implications?

Selling a Rental Home: What Are the Tax Implications?

By Ilyce Glink| 2017-03-24T15:22:42-05:00 June 19th, 2012|

When selling a rental home, understand the tax implications of selling the rental home and the 1031 exchange rules if you buy a new home. Q: I was wondering if you would be so kind and clarify something for me. I have a rental home that I have rented out for the past 18 months. [...]

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