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July 30, 2014

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#14 makes the most sense to us, both for our investments and our real estate.

I appreciate the posts about financial planning from Marotta, but I wish you would stop running tax advice from him. He's not an expert on this stuff and it really shows. For example, the description of 1031 exchanges is just ridiculous! "This piece of valueless paperwork does the trick"?? Actually, IRC Section 1031 is very valuable to taxpayers -- because it helps people exchange like-kind property without triggering tax. It's a business-friendly benefit offered to taxpayers through the tax code. Mr. Marotta is just so negative about our tax code that his political views just can't help but seep through at the expense of helpful advice and insight about it.

We're doing a 1031 exchange right now and I'm really glad we can put off the capital gain tax. The gain can be quite large if you hold the property for a decade or more.
I like #14 as well. Haven't thought much about that, but seems like a nice workaround.

One other thing is that if you are in the lower tax brackets for earned income you can have up to $70k in capitals gains tax free. Yes- tax free.

#11. Nevada also has no state income tax. TN does have income tax on unearned income.

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