No video :(

How To Sell Your Home TAX FREE

Clint Coons Esq. | Real Estate Asset Protection

Подписаться 226 тыс.

Просмотров 8 тыс.

50% 1

Today we talk about the life hack all about selling your own personal home TAX FREE!
---------------------------------------------------------------------------------------------------------
SUBSCRIBE
www.youtube.co...
~~~~
FREE REAL ESTATE INVESTMENT STRATEGY SESSION
Claim Your FREE 45-minute Investment Strategy Session to receive business planning tips and asset protection. 👉 aba.link/sco
FREE TAX & ASSET PROTECTION WORKSHOP
Learn about Real Estate & Asset Protection from Clint Coons, Esq, and Toby Mathis, Esq. at our next all-day free Livestream 9 am to 4 pm PT. on Saturdays. Our attorneys and specialists will answer ALL questions: 👉 Save Your Seat: aba.link/lij
~~~~
FINANCIAL PLANNING & RESOURCES
Download your free copy of Un-Tax Yourself eBook and discover the secret to real estate wealth is in the tax deductions. aba.link/ecb2f3
For financial strategies, podcasts, articles and details on upcoming workshops visit aba.link/clintaba
Here’s a little about me and my book Asset Protection for Real Estate Investors
aba.link/clintbio
~~~~
FOLLOW US:
Instagram: aba.link/insta...
Facebook: aba.link/facebook
Twitter: aba.link/twitter
LinkedIn: aba.link/linkedin
~~~~
CONTACT US
Phone: 800.706.4741
Email: info@andersonadvisors.com
Fax: 702.664.0545
ABOUT CLINT COONS
Clint Coons, Esq. is one of the founding partners of Anderson Law Group, Clint has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.
---------------------------------------------------------------------------------------------------------
The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
#sellingproperty #property #tax

Опубликовано:

6 апр 2022

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 40

@fdhall 9 месяцев назад

genius! love your channel bro!

@ClintCoons 9 месяцев назад

Appreciate it!

@buzybill Год назад

Would you able to do this strategy with a partnership, not S corp? The partnership would be a subsidiary of a Wyoming holding partnership LLC. I would not need to use installment sale, I have enough cash to payoff the entire house. I just ned to use section 121 Primary Home Exclusion. 😅

@wagnerpinheiro9301 2 года назад

Hi Clint. How about turn the property into a rental and then use the CRT strategy in this situation? Wouldn't be maybe more advantageous?

@ClintCoons 2 года назад

It would depend on your goal - do you want a tax deduction for 10% of your homes value and then taxable income in the future or tax free income from the house sale.

@elmasduro77 8 месяцев назад

Great strategy. How do the scorp will get the rest of the money considering the owner will put in 200k into the scorp.? Loans?

@ClintCoons 8 месяцев назад

You will pay the corporation

@jclee3 2 года назад

If electing out of installment sale treatment, when/how is (possibly imputed) interest on the installment sale captured?

@ClintCoons 2 года назад

You will pay tax on the interest.

@elmasduro77 8 месяцев назад

Also, since the scorp now owns the property, do the owners (yourself) can live in it or do you have to rent it out?

@ClintCoons 8 месяцев назад

rent

@karrehuff 2 года назад

QUESTION: What if a spouse recently passed in last 4 months, is the exclusion $250k or $500K? Widow is selling the house, might be a $400k profit...

@ClintCoons 2 года назад

Yes if the house is sold within 2 years of death

@karrehuff 2 года назад

@@ClintCoons I meant- is the exclusion $250k or $500k?

@ClintCoons 2 года назад

@@karrehuff 500k

@billytheweasel 2 года назад

Help! Is there any bank that will open a business bank account with 2 LLC's when the "Entity" names are each other's name? WA Sec. of State says it needs to be my name on the public record to get a business bank account. I have a registered agent. EDIT- solution: I found a bank that would accept bringing in the Operating Agreement for the Holding LLC. They opened a business bank account in the LLC's name!

@ClintCoons 2 года назад

Not sure maybe open the accounts with different banks.

@billytheweasel 2 года назад

@@ClintCoons Thank you Mr Coons. Always helpful...

@notmeee7302 11 месяцев назад

What was the name of the bank?

@nicolereadstarot 9 месяцев назад

We have a loan for $114k but our home is bow worth almost $300k. I feel like we need to get a new home because we dont have enough bedrooms now. Is there a way to just like... Switch our mortgage to a new property and keep our 3% interest? My husband is worried we will have to get a brand new mortgage with a way higher interest rate. Please help. I am desperate here.

@ClintCoons 8 месяцев назад

You can keep the mortgage but if you look for an FHA or VA seller you will be able to assume their mortgage assuming it has the interest rate that works for you.

@jmerk9556 2 года назад

Dang just lost 15k to uncle Sam selling a house. Depreciation recapture and capital gains tax stink. Best time to sell is never

@JtotheRizzo 6 месяцев назад

Thanks Clint. Question about selling a personal residence to your s-corp to increase the cost basis and reduce capital gains tax (121 rule). Does this work when a property is owned by siblings? My sister and I was deeded a 2-family property that our parents bought 30 years ago for $330K. We own it 50/50. Obviously we received the property with their cost basis. The property is now worth $1M. Is it possible to take the 121 exemption? Is forming a WY LLC/S-corp recommended for this?

@ClintCoons 5 месяцев назад

Is it your residence? Are you selling the entire property? Does your sister live in the property?

@JtotheRizzo 5 месяцев назад

@@ClintCoons It will no longer be my primary residence by later this year (summer 2024). But my sister and mother still live there. We don't plan to sell it now but possibly sometime in the future.

@ClintCoons 5 месяцев назад

@@JtotheRizzo In your case you would sell your 50% interest to the S-Corp. The S-Corp would be a tenant in common with your sister.

@JtotheRizzo 5 месяцев назад

@@ClintCoons Thank you!

@jeffb6276 2 года назад

Can I write off a 6' fence going around my 6 acre property? Between security and wanting to confine my chickens, it makes sense to have it- but it's costly

@ClintCoons 2 года назад

Not unless you are in the egg selling business.

@notmeee7302 11 месяцев назад

Isn't it considered improvements to the property? So when you sell, does this cost of the fence & any other improvements (sunroom, pool, etc) count towards increasing your basis? Also, do refi fees and/or realtor commissions count against your basis?

@brad265 2 года назад

Say you have $1M in equity, After selling to your s corp and getting $500k tax free and raising your basis, could the s corp later sell it back to you personally, live in it for 2 more years and then sell it to someone else for another $500k tax free?

@ClintCoons 2 года назад

Not sure if the numbers would work out favorably because you would buy it back from the S-Corp at a gain that flow through to you including depreciation recapture.

@brad265 2 года назад

@@ClintCoons what if the S corp didn't sell at a gain?

@ClintCoons 2 года назад

@@brad265 I dont see how it works to your benefit.

@brad265 2 года назад

@@ClintCoons 1- couple owns house for 2 years and sells to S Corp and $500k gain tax free 2- S corp sells back to couple no gain 3- couple owns for 2 years and sells for another $500k gain tax free. The benefit would be $1MM overall tax free. Is this allowed to go back and forth?

@ClintCoons 2 года назад

@@brad265 Where is your corporation getting the $$$ to pay you the purchase price over 2 years?