29 April 2024 | 5 replies
It's a strict 2-year requirement.As for strategies to avoid capital gains on the sale, if your client doesn't meet the ownership and use requirements for the Section 121 exclusion, they might explore other options such as:1031 Exchange: If the property is an investment property rather than a primary residence, your client could consider a 1031 exchange to defer capital gains tax by reinvesting the proceeds into another investment property.Installment Sale: If your client is willing to accept payments over time, they could consider structuring the sale as an installment sale, spreading the recognition of the gain over multiple tax years.Charitable Remainder Trust: If your client is charitably inclined, they could contribute the property to a charitable remainder trust, receive income from the trust for a certain period, and then have the remaining trust assets pass to charity upon their death, potentially reducing or eliminating capital gains tax.These are just a few options, and your client's specific financial situation and goals would need to be considered in determining the best approach.
4 September 2024 | 8 replies
-Justin You can run a charity or run a business but you can't do both.
30 June 2016 | 91 replies
Great choice on charity!!!
13 August 2013 | 3 replies
We want to be able to live very well and also do a lot of charity work both in our own community, the one where we are buying the cheaper homes and around the country.Since we have pretty lofty financial goals, I suppose I am stuck between many low-priced SFH or just starting in with the multi-units.Any thoughts on achieving our goal with the first posted info?
26 June 2013 | 4 replies
However, I never got any new business through offering a portion of my commission to charity.
28 June 2017 | 2 replies
My offer is this: If they are within a 7-hour radius of me (I live in Richmond, VA), I will drive to them, take them to lunch + give $250 to the charity/cause of their choice in exchange for their time and advice.
17 June 2007 | 5 replies
I'm not rich enough to be a charity just yet :crazed:
23 April 2024 | 10 replies
Only other way is donate all the gains to charity.
5 June 2019 | 163 replies
I can see beginner landlords many who are undercapitalized to begin with or don't have much in the way of reserves .. they have to treat things different than well position and cash reserved landlords who may look at this as a form of charity or giving back to a long term tenant..
11 August 2023 | 1 reply
* Charity of choice *In response to the devastating wildfires on Maui, the Hawaiʻi Community Foundation has activated the Maui Strong Fund to provide flexible resources to support Maui residents.