We received a $1,000,000 settlement which included a residence worth $150,000 and 100 acres of land worth $850,000. Now I need $150,000 to pay the IRS. What can I do?

Asked by IRBY

2 Answers

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Answered by Patrick Thuemmel, Financial Adviser in Dallas, TX
home equity line of credit? | 06.16.15 @ 17:23
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$commenter.renderDisplayableName() — {comment} | 12.10.16 @ 01:28
Answered by Dave Bradley, Investment Manager (Financial Advisor) in North Charleston, SC
There are many options here:

1. Sell some of the land/residence
2. Rent out the land/residence
3. Set up the land/residence as green space and get tax credits
4. Charitable contribution
5. Debt financing against the assets
Etc.

Send me a message to discuss in detail. No obligation

It's not what you make, It's what you keep that determines your lifestyle. | 03.26.16 @ 00:18
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$commenter.renderDisplayableName() — {comment} | 12.10.16 @ 01:28
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