Seymour - that's for sure...
I'm looking for ways to not give the government 40% or so of a relatively large yearly bonus. It seems the best way I've found so far is to buy more home than I need... I'm also looking at starting some business that might lose for a while while ultimately being profitable...
-Sean
I'm looking for ways to not give the government 40% or so of a relatively large yearly bonus. It seems the best way I've found so far is to buy more home than I need... I'm also looking at starting some business that might lose for a while while ultimately being profitable...
-Sean
Basically when you sell an investment property you can defer all taxes on that sale if you roll the money into another investment property. The deferred payment is not due until you sell the second property.
Say you make a $100K (estimated $20K capital gain) on investment property A, if you use the money to purchase investment B, and hold on to that property for 20 years, your deferred payment ($20K) remains what it would have been if paid at the time of sale of property A.
Say you make a $100K (estimated $20K capital gain) on investment property A, if you use the money to purchase investment B, and hold on to that property for 20 years, your deferred payment ($20K) remains what it would have been if paid at the time of sale of property A.
