Articles
   
       
       
Pics/Video
   
       
       
Shop
Search
 
 
 
 
 
Home   Articles   Pics/Video   Gear   Wake 101   Events   Community   Forums   Classifieds   Contests   Shop   Search
WAKE WORLD HOME
Email Password
Go Back   WakeWorld > Non-Wakeboarding Discussion

Share 
Reply
 
Thread Tools Display Modes
Old    Ryan (rkinsell)      Join Date: May 2005       07-19-2013, 12:26 PM Reply   
I bought/remodeled a home in Feb 12' in Scottsdale, AZ. Since then my neighbor, (who is stage 4 cancer) does not want to mess with the real estate market, and wants his home to go into good hands. He's approached me with an offer that I cannot refuse to purchase the property. However, I don't really want to move into this home and I would like to purchase, remodel and sell within 3 months. Does anyone on here know the best way to approach this tax wise? It is a larger home with a pool, so classifying it as a primary residence will not be a problem. Would I receive any backlash from buying this as a primary and selling within 3 months, then "moving" back into my old place? Has anyone gone through anything similar?
Old    Jonathan Bay (john211)      Join Date: Aug 2008       07-19-2013, 2:39 PM Reply   
I'm one among a few who've wondered if Sam Ingram and you weren't the same. That aside, don't either of you have a good accountant? One of the three most important assets in my small business(es) has/ve been my accountant(s). It's a husband and wife firm. They've been around for ages and I worry about the day they retire. What I'm driving at is, don't you have a trusted accountant who is local ... 'has boots on the ground' ... you can visit? My visits for like out-of-the-ordinary questions for my odd (but unlike yours) question(s) haven't cost much at all in the larger picture. I've got a bunch of odd investments ... which count as capital income. And that is good.
Old    Ryan (rkinsell)      Join Date: May 2005       07-19-2013, 3:43 PM Reply   
No I'm not Sam Ingram. I have a call into my accountant, but he specializes in employee owned companies (I'm involved in two with some weird accounting). I've seen a decent amount of real estate advice on this site so I thought I could get a couple opinions.
Old    DC (durty_curt)      Join Date: Apr 2008       07-20-2013, 12:00 PM Reply   
I'll Ask My cpa About That For You Kinsella, I'm going Wakeboarding With Him On Tuesday. Remember When You Used To Wakeboard?
Old    Ryan (rkinsell)      Join Date: May 2005       07-20-2013, 1:12 PM Reply   
Yeah I miss those days. I appreciate it.

Reply
Share 

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On



All times are GMT -7. The time now is 12:07 AM.

Home   Articles   Pics/Video   Gear   Wake 101   Events   Community   Forums   Classifieds   Contests   Shop   Search
Wake World Home

 

© 2012 eWake, Inc.    
Advertise    |    Contact    |    Terms of Use    |    Privacy Policy    |    Report Abuse    |    Conduct    |    About Us