Can someone help me With windfall profit tax?

Posted on February 18th, 2010 by admin

I am a licensed realestate agent in florida and i am about to close on a big commercial deal. I stand to make between 10 and 30 thousand dollars in comission. My husband says that if i am not incorporated the irs will take 57% of my commision for windfall profit tax. Is this true and what can i do to prevent it? Any info would be much appreciated as this is my first deal and i have made plans to reinvest this money in another property

hmmm
I am not sure about the IRS taking 57% of your profit…..
I am also not sure of your situation. It sounds like you maybe invested some money and in some property and then turned around and sold the property? If so any gain (selling price – purchase price + any expenses) would be taxed as a capital gain. If the property was kept over one year the rate would be 5-15% depending on your marginal tax bracket. If not kept over a year then it would be taxed at your tax bracket percentage.

But maybe this is just straight commision from selling the property? If this is the case then the commision is going to be gross income that will be reported on schedule c. It would be subject to 15.3% self employment tax as well as your regular tax rate. But you would be able to deduct any expenses that you incurred while selling (such as advertisement, realtor license expense, cell phone, etc)

hope this helps a bit

How do you feel about investing in a REIT in this market?

Posted on February 16th, 2010 by admin

A commercial REIT is a realestate investment trust that manages high end commecial rental properties.

I feel very good about it, especially for the long term. REITS are much cheaper than they were a few months ago.

I prefer Real Estate mutual funds to individual REITS, though – you get diversification among different types of properties (commercial, residential, even things like privately owned prisons, parking garages, shopping malls, etc.) AND among different parts of the country.

I’m currently in one of the best ones – the T. Rowe Price Real Estate Fund (TRREX).

Good luck!

what can be done {now } ?

Posted on February 14th, 2010 by admin

I have three other mortgages other than my primary home residence , as I was trying to become a realestate investor.

I have fallen very far behind on all of the other ones, due to lack of recieving payment from renters, I was able to make a payment arrangement with the lenders, but find that the repayment payments are so high that I am finding it difficult to keep up with them also, can’t seem to get the property rented in such a short time.

my so called co-investors hav bailed out and are not contributing, although their credit is also at risk.

I have a realtor trying to sell , however ,no luck there so far.

My immediate issue is that the first repayment was due two days ago, and I did not have the money, although I have already made the iniatial $9000 down payment. it is a commercial property. can a realestate attorney help me ?

I have had many {I’ll look into it promises }, but nothing seems to work out. can I get the lender to give me more time ??

That’s the risk or becoming a landlord. You have gotten in over your head. Try to make some type of payment on the loans, even if it’s not the full amount. This will show the bank you’re at least trying. Then sell the properties as fast as you can, even if you have to take a loss.

“Commercial Real Estate Collapse” : Gerald Celente Was Right!

Posted on February 13th, 2010 by admin

Gerald Celente predicts “Commercial Real Estate Collapse” in ‘09. Today I drove around town and filmed all the vacancies. All film was shot in one city! It looks like this in neighboring areas as well.
I didn’t even go to the mall or the industrial areas. That will be later. Check out Gerald at wwww.trendsresearch.com

Duration : 0:4:44

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Maine Commercial Business Property Land, 3 Acres Worth In Houlton ME To Develop! MOOERS REALTY #7825

Posted on February 9th, 2010 by admin

Easy To Develop, Build On Property Fronts US Rt 1 In Houlton Maine. $29,900 For 3 Acres! Extra Home With Additional Acres To The North Bordering This Land Too For In The $60’s! info@mooersrealty.com 207.532.6573 Log On www.mooersrealty.com

Duration : 0:2:4

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Montana Real Estate- Homes for sale, Livingston MT 59047 Paradise Valley Yellowstone River – walk in access

Posted on February 6th, 2010 by admin

AAHH Montana Real Estate presents a great 12.15 acre property for sale in Paradise Valley, MT- this property has 2 homes on it and is within easy walking distance to the Blue Ribbon trout fishery of the Yellowstone River. Use one home as a vaction rental and the other as your main residence. Would also make a great commercial property. Possibilty of putting two additional income producing units on the proerty. Currently, in addition to the 2 homes, there is a huge barn and a loafing shed. The proerty also has irrigation water so it would be prefect for the horse lover as well.

Just 30 minutes from our neighborhood park (Yellowstone National Park) and 18 miles from Livingston Montana.

If you would like more information on this or other land, homes, ranches, or commercial properties for sale in Livingston, Paradise Valley, Gardiner, Bozeman, Big Sky, Cooke City, Emigrant, or the surrounding areas, please feel free to check us out at http://www.aahhmt.com.

Duration : 0:8:24

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How To Become A Super Affiliate Internet Marketer Training

Posted on January 26th, 2010 by admin

Invest UK Commercial Property course teaches you 15 proven ways it has helped people to become super affiliates for its UK Commercial Property Course. The 15 internet marketing methods are either low cost or no cost and work. Even if you dont want to promote the UK Commercial property course it will give you the foundations for becoming a super affiliate. No need to pay for expensive online training when its free at http://www.investukpublishing.com/propertycourse.html

Duration : 0:9:27

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Ritz Carlton Residences Singapore Property Real Estate

Posted on January 23rd, 2010 by admin

Ritz Carlton Residences Singapore real estate buy sell rent invest singapore property residential properties Condominiums apartments real estate house terrace offices residential property of Singapore of space of store commercial hotel HDB property projects building housing new launching Singapore

Ritz Carlton Residences Singapore

Ritz-Carlton Residences.

Property Profile

Type: One 36-storey apartment tower
District: 9
Tenure: Freehold
Total units: 56 apartments and 2 penthouses
3 bedrooms ~ 263 sqm (2831 sqft)
4 bedrooms ~ 284 sqm (3057 sqft)
Penthouses – more than 5000 sqft

Ritz-Carlton Residences. Facilities

•swimming pool
•children’s pool
•tennis court
•children’s playground
•gymnasium
•Maze Garden
•Function room
•24-hour concierge,

housekeeping and sommelier service

Buy Sell Rent Invest In Singapore

Mindy Yong 杨雯诗

Tel: (+65) 91002985
Fax: (+65) 64021826

mindy@mindyyong.com ( email me )

http://www.hotvictory.com

Buy Sell Rent Invest In Singapore

Duration : 0:2:35

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Investing in Commercial Property – featuring MARK WITHERS

Posted on January 20th, 2010 by admin

Extract from Eyeworks New Zealand TV program NZ Open Home: “A guide to investing in commercial real estate.” Features Mark Withers, author of PROPERTY TAX and contributor to COMMERCIAL REAL ESTATE INVESTORS GUIDE by Peter Aranyi www.EmpowerEducation.com
[Used with permission.]

Duration : 0:6:21

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Apartment Complex for Sale near Birmingham, AL – 46 Units – Commercial Real Estate Income Property

Posted on January 16th, 2010 by admin

Apartment Complex for Sale near Birmingham, AL – 46 Units – Commercial Real Estate Income Property

Duration : 0:3:17

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