1031 vs 721 – Pros and Cons
Many look to 1031 exchanges with like-kind properties, specifically in real estate investing. To avoid triggering capital gains tax when selling an investment property, many defer capital gains realized by conducting a 1031 exchange: Capital gains is deferred, and rolled over to the next property. There is no limit as to how many times you […]
Teachers & Taxes
With the change in TCJA tax laws, educators were one of the groups hardest hit with the change of unreimbursed expenses for the job. Here are three (3) tax strategies that teachers in the United States can take advantage of to optimize their financial situation for tax time. First is the educator expense deduction, which […]
Child’s Financial Future: Roth IRA vs 529, and Implications of the New 529 Rollover
The most common argument against starting Sec. 529 college savings programs (529 plans) for young children is the uncertainty surrounding whether the child will even attend college and, if they do, whether they will need the funds in the event of qualifying for scholarships or other financial aid. The new 529-to-Roth transfer rule is meant to […]
