Brian C. asked
I have a question regarding the sale of a property, specifically a vacant lot currently rented/leased by a nursery. The offer is for $750,000.00. I want to use the proceeds for paying off my children's education loans and expenses, acquiring a larger primary residence to accommodate an ailing mother-in-law, and saving for retirement. How can I reduce my tax liability on the sale proceeds and what are the typical tax implications for capital gains on rental property?
April 20th, 2023
Daniel L. answered
When selling business or investment property, such as a rented vacant lot, you generally have to pay...
April 20th, 2023
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