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Debt Cancellation Is Taxable.
Debt cancellation happens when you are relieved of the responsibility to repay the debt. But the IRS considers the amount of the debt forgiven to be taxable income to you. In some cases, it can be quite severe if you don't manage the situation and make the right decisions. For instance, you can't make payments on your Real Estate Note, and it goes into Default. So the Lender says, "Instead of me having to go through the process of Foreclosure, why don't you just sign a Deed In Lieu...
An LLC With A Partnership? Yes!
An LLC with a Partnership has become a popular new business model. You have been told that using Partnerships in Real...
1031 Exchange Land? Yes!
1031 Exchange land, and do it just like you 1031 Exchange rental property, and I'll show you how. But be careful to...
Seller Financing 1031 Exchange
Seller Financing 1031 Exchange strategy can result in a no-cash-required upgrade of your real estate investment...
Clear Title? You Don’t Have It.
Clear title to real estate is a concept that is usually explained incorrectly, leading to confusion and uncertainty....
1031 Exchange Dictionary Part 3
The Section 1031 Exchange Dictionary is divided into three parts. This is the third part. You must understand these...
1031 Exchange Dictionary Part 2
The 1031 Exchange Dictionary is your starting point before you delve into trying to understand the 1031, and you need...
1031 Exchange Dictionary Part 1
The 1031 Exchange Dictionary contains the words and definitions that you must know before you even start reading about...
Buy With Cash?
Buy with cash. I once, briefly, thought that was the way to go, but I see now that it's more complicated, and more...
Balance Sheet Example
Balance Sheet numbers are the numbers that you will use to do the Calculations that I discuss in many of my Blog...
1031 Exchange Rules (+6)
1031 Exchange Rules are not actually written in the tax law. If you are interested in reading the content that makes...
1031 Exchange Rules (10)
1031 Exchange Rules are stated and explained incorrectly by all of the hits on the first page of a Google search for...
Comparing 2 Loans
Comparing 2 loans side-by-side will show you the best choice. And the best way to do it is with colored charts and...