Tax Laws

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Asked by Kelvin
Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC
Hi Kelvin, By deferring until next year, will this lower your tax liability or raise it? Ask your Accountant (preferably a competent CPA) and tax advisor. Also, wi...
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Asked by Nettrickr
Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC
Hi Nettrickr A 1031 exchange is designed to defer taxes. Check with your property attorney for specifics in your situation. The exchange can include like-kind p...
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Asked by an anonymous user
Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC
Hi Anonymously, Are you a real estate professional? Also discuss this with your tax advisor. You may deduct your suspended passive losses from the profit you ea...
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Asked by Tstepsr67
Answered by Jeffrey Schneider
Tax Professional
An in-law can be a dependent like any other relative. They would be called a qualified relative. The main criteria is that you provide more than half their support and...
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