Sold my acre bitches

To the real estate pros here who laughed at my listing at 125k for an acre in Vegas.

Cash offer of 110k closing this Friday. Its not 125k but I only paid 45k for it two years ago.

So now where are the tax pros so i can avoid giving Obama his cut?! Phone Post 3.0

Tax advice?

 

Ha! Yea uncle sam doesnt even use lube they just rape rape Phone Post 3.0

You should be able to offset a great deal of taxes by immediately purchasing another plot of commercial land/ property via a 1031 exchange.

If you can do it you can actually finance the new purchase if you like and still receive the tax benefits on the total amount...then keep your chunk of money for another investment and or hookers and drugs. Phone Post

Reinvest or say bye bye. Its fucking bullshit. Phone Post

Badmonkey - You should be able to offset a great deal of taxes by immediately purchasing another plot of commercial land/ property via a 1031 exchange.

If you can do it you can actually finance the new purchase if you like and still receive the tax benefits on the total amount...then keep your chunk of money for another investment and or hookers and drugs. Phone Post
Is there a time limit on the exchange? I close escrow next weds. Phone Post 3.0