We all know that COVID19 is a very scary scenario and is shutting down life as we know it. We also know that the internet is amazing at taking any serious situation and knocking it down a peg. Let us know what you think of our collection.
The Corona Virus has very obviously become a major threat to global health and commerce. I stumbled across this video and I think it does a very good job of describing how serious this situation can be, but also where we actually are with it, as well as a quick summary/description of what it is. It addresses: What it is coronavirus? Where they think the COVID-19 come from? Who is being affected by corona virus? How is COVID19 transmitted? Are there any treatments for corona virus?
I get asked this question every so often and I would love to start out by saying this is a great question for your CPA and/or your tax attorney. Now that that is out of the way, here is a bit of info I found that really gives a concise and well rounded look at the broadness and beneficial aspects of a 1031 tax deferral.
While daydreaming, I often return to this experiment that I read about a few years back titled SLIME MOLD GROWS NETWORK JUST LIKE TOKYO RAIL SYSTEM. In the experiment, they started with oat flakes arranged in the pattern of Japanese cities around Tokyo, then they introduced this slime mold.
“Talented and dedicated engineers spent countless hours designing Japan’s rail system to be one of the world’s most efficient. Could have just asked a slime mold.” Says Laura Sanders, the author for Science News at Wired.com.
What is an escrow? When opening an escrow the Buyer and Seller of a piece of property establish terms and conditions for the transfer of ownership of that property. These terms and conditions are given to a third party known as the escrow holder. The escrow holder has the responsibility of seeing that the terms of the escrow are carried out. The escrow is an independent neutral account and the vehicle by which the mutual instructions of all parties to the transaction are complied with.
What is the difference between Proposition 60 and Proposition 90?
Proposition 60 allows transfers of base year values within the same county (intracounty). Proposition 90 allows transfers from one county to another county in California (intercounty) and it is the discretion of each county to authorize such transfers.
The homebuying process looks something like this: Get preapproved for a mortgage, find your dream home and win the bidding war. But before you can move those boxes in and start enjoying your new property, you have one more major step to take: the home inspection.A home inspection isn’t an appraisal. In fact, an inspection has nothing to do with your home’s value — or how much your lender is willing to finance. It’s simply a way to assess a property’s safety and long-term viability.
Selling/buying a home can be a very tangled and confusing process, so here is a bullet-point breakdown of what to expect, in terms of payment responsibilities, when buying or selling a residential home.
The escrow is a depository for all monies, instructions, and documents necessary for the purchase of your home. These include your funds for down payment, your Lender’s funds, and documents for the new loan. Generally, the Buyer deposits a down payment with the escrow holder, and the Seller deposits the deed and any other necessary papers with the escrow holder. Prior to close of escrow, the Buyer deposits the funds required and agreed upon by the parties to the sale with the escrow holder. The Buyer instructs the escrow holder to deliver monies to the Seller when the escrow holder:
A Taxpayer Must Not Receive “Boot” from an exchange in order for a Section 1031 exchange to be completely tax-free. Any boot received is taxable (to the extent of gain realized on the exchange). This is okay when a seller desires some cash and is willing to pay some taxes. Otherwise, boot should be avoided in order for a 1031 Exchange to be tax free.