yes, consult with an accountant on the specifics as there are many factors involved.

start attending the church at least a year before you plan to sell. It will go easier for you

Honestly, the sacrifices are probably not worth it for many people. Kids today are fragile, more expensive than ever, and just aren't that rewarding for all that you give up for them. It's a total crapshoot in most cases.

yes, that's possible. That's why you have to put real numbers to different potential outcomes. My area, an affluent suburb, is down about 25% from peak. Two-three years ago, a house will sell in 1 weekend with 10 offers and $100k over ask. Now, houses sit week after week, even at 20% below peak. Of course, price and renovation level matter a bunch.

this advice is terrible and obviously by a complete amateur. I time horizon of 3-5 years does not correlate at all with 95% equity allocation when she said that she cannot lose any of it. It could easily be down 50% with that allocation and the market (specifically index funds) are very overvalued.

FDIC insured CDs are the best place for your specific criteria

funny

It's nice, but location and price. It doesn't look like there is a chance to add more acreage. It's a bit short of being able to homestead plus ag exemption too, right? Also, what can you really do with 10 acres? It won't be income producing, so it's just overpriced for what most would be willing to pay that far from a big city. If people want rural, they likely would want more land for that price and would care less about the house.

incorrect. the gain or sale of any assets, included directly RE, are on personal taxes (unless that real estate is a separate entity that files its own taxes). So, that capital loss would be able to offset capital gains in stocks or other assets.

The IRS doesn't have the capacity to know the actual basis and whether or not it was adjusted down enough. Also, the real estate profit and losses pass through to the personal taxes unless it was classified as a separate entity (other than single member LLC). It's not going to be because the loan could be not be reclassified as a separate entity. Thus, the real estate is just a sole proprietorship on the personal taxes.

Yes. You get to depreciate the structure (not the land) over annually 27.5 years. Then, you would take an income loss of the rents against your interest, insurance, and taxes (not principal) payments. Then, after a year or later, if you sell it, the net proceeds would be taken against the basis and any depreciation recaptured. The basis would be adjusted to the FMV at time of rental conversion, but it's not like the IRS is going to really know what that is reality to what you paid for it but just know the rules first. For people who can afford not to sell immediately, this could be a smarter financial decision.

I mean that if you sell your primary residence for a loss, you cannot deduct that on your taxes. If you convert it to a rental, then you may be able to realize that capital loss. You do need to make a FMV assessment at time of conversion, but in this case, I believe it makes sense to do this for at least one year. Note: there is other info needed and calculations to see exactly.

They have a nicely balance approach to taxes. Property taxes can get you priced out of even a paid off house, be over 100% rate when you're out of work/sick/retired/starting a biz... They are too high now that prices of increased.

One this is for sure, many of the people commenting have never been landlords and don't know the first thing about the taxes involved. Don't listen then these people who have no experience or knowledge in this area.

not capital loss on residence is allowed for taxes. Convert to rental for one year and it would be.

Note that when you rent it, your taxes will increase because you lose the homestead deduction and your insurance will increase because it's a rental instead of being owner occupied. Do the math though as it may make more sense to lose $12k a year for a few years than $170k. Also, you get a tax deduction each year for depreciation and the loss if you rent it and then can take the capital loss if it is rented. You don't get capital loss if residence. For me, it's an easy call to convert to rental for at least 1 year to be able to get the capital loss as this will save you a lot in taxes over time (especially if you have other capital gains to offset with now or later)

Change Texas? There is a reason why people are leaving CA, NY, IL, NJ, and other poorly run blue states and moving to TX and FL. Stay in your failed stated and keep your failed away.

whoever worked on that probably didn't know shit. You can take a multimeter and measure the current at different points to see where the issue is likely and even put jumpers on the motherboard to test. It's more of a problem that people cannot troubleshoot shit these days and just want to start replacing things instead.

yeah, idiots complain when they have mold and mildew which is completely on them for their lack of care. Are they looking for washers that defy the laws of physics and nature?

My LG ones have been going strong for over 12 years now. One broken belt on the dryer when I put in just shoes so it was heavily unbalanced, but that was an easy fix.

At least 1 full second too late relative to what the truck on the outside reacted to, and you were really passing in the left lane at 70 mph on that type of road. It seems your speed limit was likely lower there, like 65 max for your rig. At least could have reduced impact by 10-20 mph, but otherwise better to stay on the road to the outside like was done.

It's relative, so the next 4-5 or even 10 years aren't that fast. Then, 30-40 is fast, 40-50 is fast. The years start going pretty quickly because they are often very similar once you are out of college and working.

I took a gap year after getting into my dream university but being unable to afford it. It was one of the best years of my life. It was beach volleyball with friends during the day with chicks watching, waiting tables at night, and going out after work. Then, doing it all over the next day. You're only young once and have plenty of time to work over the next 30 years as long as you only do a year of it. I'm in the US. Had I been in EU, I would have spent it backpacking.

All four big cities have really attractive suburbs: (SA) Boerne, (HOU) The Woodlands, (HOU) Clear Lake, (DAL) Grapevine, (DAL) Flower Mound, (AUS) Georgetown, (AUS) Cedar Park. This is just to name a few as each has many more than that give options depending if you like golf, the lake, hills, and so many other features.

Impossible to tell from such limited info. My dad didn't want kids. I've done a lot for him, far more than he ever did for me. He's an ass, but he's the only dad I have so I have to take what's available to me. I'm not a good father either, even though I wanted to be. I'm far better than I had.

My daughter doesn't like me and I don't like her. She has been an absolute pain as a teenager, far worse than your ordinary teenager stuff and it affects our whole family. If she changes as an adult, I can forgive her and treat her accordingly. If not, I will still be civil but I won't treat her the same as my other two kids who haven't caused so many problems.

You cannot pick your parents and they cannot pick their kids. Each fails expectations in some ways great or small. I would try to get to the bottom of it before they die and you never know how or why they feel the way they do. I do believe the last thing I will think about before I die will be my kids and likely a long list of regrets I have about how I should have done better with them.