Don’t pay taxes! Well, you CAN legally “opt-out” of paying certain taxes and the IRS will not dislike you.
Did you know: you can sell your primary residence and avoid paying taxes up to:
a. profits up to $250,000 if you are single OR
b. profits up to $500,000 if you are married
To do this legally, you simply must LIVE in the house 2 of the last 5 years. Did you know: you can do this EVERY 2 YEARS and never pay a dime of tax as long as you fall within these requirements? If you are single and make $300K on your primary residence you lived in 2 of the last 5 years, you only have to pay taxes on the amount over and above the $250,000 exemption! Thank you IRS! There are legal way to shift even more if not all of your profit into other tax categories and never pay ONE DIME of income taxes.
Investors: if you are buying investment properties, did you know you can make millions and never pay one dime in taxes? Thanks to a special provision in the tax code — section 1031 — you can defer all gains on investment properties forever.
One of the smartest and wealthiest investors I know says: “there is NEVER a bad time to invest….only a bad time to sell”. So, if you would like to build long term sustainable income using the BEST tax advantaged vehicle, real estate is the answer. Let me help guide you on your path.