Posts Tagged ‘Mom’
Ideas for investment today (Feb 2009) if you have $50k in cash?
Saturday, March 6th, 2010What are some ideas for investing if one has around K in cash today. Moderate risk tolerance - don’t want to loose it all. Time horizon of 3-5 years.
Rental income properties?
Tax liens?
Buying a franchise?
Local mom & pop business?
Stocks? Bonds?
What are some ideas for investing if one has around K in cash today. Moderate risk tolerance - don’t want to loose it all. Time horizon of 3-5 years.
Rental income properties?
Tax liens?
Buying a franchise?
Local mom & pop business?
Stocks? Bonds
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Further clarification: I was hoping for ideas that don’t have anything to do with banks, brokerages houses etc.. Maybe more of business or trade or hands-on value addition and not necessarily hands-off investment.
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Parents selling home & moving in with me, how can they avoid capital gains tax?
Saturday, November 21st, 2009My boyfriend and I just bought a house (110K lien), and his parents will be moving in with us, in a garage-converted apartment. Parents are selling thier house for k to my boyfriend’s older sister. Since they are close to 80 and have no other assests, we are trying to invest legally but avoid capital gains. Should that 80k be paid on our house and add the parents to the title, or should the deed to the original house be passed as a "gift" to the sister and sister pay mom & pop under the table? Or should the 80k be split between all 7 of mom & pop’s children as an inheritance (even though both are alive, they do not have a will). Let me know what options exist.
The parent’s home is a single-wide mobile home on a permanet foundation on 1 1/2 acres of land in Maryland. They bought the land & the mobile home in the early 1980s and have owned & occupied it since then.
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How can IRS know if I actually paid or my mom paid the tax and mortgage interest before I was on Deed and Mort
Wednesday, October 28th, 2009Hi, this is a follow up question to my original.
Most have said I cannot deduct the mortgage interest and property tax that was paid on this property that I was put on deed toward the end of the year.
How can IRS actually know that it wasn’t me paying this?
If I provide funds to my mom earlier this year to make her mortgage payments and tax payments, isn’t that considered me paying for it?
At the end of the year, the mortgage companies will have both my name and my moms on the 1099 as well as the property tax reciept with both my name and hers since by the time they generate this i will be on the deed too right?
