Do you own rental properties? Do you want to grow your rental-property business? Then you need to know the ins and outs of the Section 1031 exchange. Mr. Adams did. That’s why he was able to overcome an IRS objection that his Section 1031 exchange failed because his replacement rental-property fit his son’s family’s needs. We’ll explain the Adams case and show you how to … [Read more...]
Investments
Sorted by Date
How higher tax rates can increase rental property profits
Higher taxes mean lower profits, right? Wrong! Even though the American Taxpayer Relief Act of 2012 (and other tax-law changes) can mean higher taxes on your rental properties, you can still come out smelling like a rose. You see, the new, higher tax rates can actually leave you with more after-tax cash in your pocket. How does this work? We’ll explain this paradox and … [Read more...]
How to deduct a loss on the sale of a timeshare
When it comes time to sell your timeshare, you may not make a lot of money. In fact, in this tough economy your timeshare may actually be sold at a loss. If that’s the unhappy situation you face, you’ll need to know if you can deduct that loss come tax time. As is often the case with the tax law, the rules are pretty tricky. Which is why I urge you to read my brand new … [Read more...]
How to choose the right retirement plan
You may not be retiring for many years, but now is the time to ask yourself a vitally important question… “Which retirement plan makes the best sense for me?” The problem is, there are so many alternatives, you may be confused about which plan design to choose. Should you go with a 401(k)? A profit sharing plan? A defined benefit plan? A SEP or SIMPLE IRA? If you’re … [Read more...]
How your 401(k) can help you avoid Social Security penalties
In the lingo of Social Security, “full retirement age” is the age at which you’re entitled to get full or unreduced retirement benefits. Currently, that age is sixty-six. But what happens if you start drawing Social Security benefits before you reach full retirement age? If you do, you could lose a lot of money. Luckily your 401(k) can help you salvage some of the … [Read more...]