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Number of Posts:176
Registered on:6/5/2008
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re: Gains from Sale of House - NEWBIE
[link=(https://www.law.cornell.edu/uscode/text/26/121)]Section 121[/link] If there was a gain, it would not be recognized if you have resided in the property for 2 of the last 5 years....
Posted on Money Talk
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re: Gains from Sale of House - NEWBIE
It's Sale - not sell. Was this your principal residence? If so - look at section 121 exclusion on the gain. If not your personal residence, if the sales price is lower than your purchase price - most likely no gain depending on how much depreciation was taken during your ownership....
Posted on Money Talk
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re: 1031 exchange questions - NEWBIE
Call a local company - Bill Hyde - used to own Baton Rouge Title Company, has run Title Exchange Company for 25 years doing exchanges. ...
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re: Question about purchasing a camp - NEWBIE
[quote]A)One of us purchase and have the other three just pay that person.[/quote] Don't do this...
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re: 1031 exchange - NEWBIE
(No Message)...
Posted on Money Talk
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re: reverse 1031 exchange? - NEWBIE
In the other 1031 thread I just recommended Title Exchange Company. A friend of mine did a reverse improvement exchange with them last year and was very pleased....
Posted on Money Talk
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re: Why you buy title insurance - NEWBIE
[quote]as long as the title company is in business[/quote] Title company has no impact on the title insurance. Now if you are concerned about the Title Insurance company going out of business- yes that could come in to play. That is why you should only buy from a reputable title insurance com...
Posted on Money Talk
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re: selling real estate and reinvesting..tax implications? - NEWBIE
1031 tax deferred exchange. 45 days to identify replacement property; 180 days to close on ID'd property. Both run from the date of selling your property. You need a qualified intermediary to qualify for the tax deferred benefits. You cannot have constructive receipt of the funds during the ex...
Posted on Money Talk
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re: Hold Tight! Curves A Comin´!! Possibly NSFW - NEWBIE
[quote]buttons can't hold them puppies in [/quote] That's in a Toyota Supra - they actually come all the way out in the video....
Posted on O-T Lounge
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re: Notary Exam in Baton Rouge Prep Class - NEWBIE
I've heard Schaneville is a good teacher....
Posted on Money Talk
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re: How long does it take to set up an LLC? - NEWBIE
The Sec. of State recently changed the process of forming LLC's. You now have to go to this Geauxbiz site, set up an account, reserve the LLC name you want, go to the IRS site and apply for and EIN, then convert the LLC from a reservation to a formation. You have to get an EIN regardless of...
Posted on Money Talk
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re: How long does it take to set up an LLC? - NEWBIE
I do not recommend using legal zoom. Pay an attorney in your state to set up the entity correctly. If it is a single member llc, form it yourself. If you form the entity yourself on the La. secretary of state website, it can take as little as 1 day depending on how busy they are, and not ...
Posted on Money Talk
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re: Good touch screen radios - NEWBIE
Look at the pioneer avic series. Comes with Android auto and car play....
Posted on Tech Board
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re: Two people shot to death on Boone Avenue - NEWBIE
[quote]I live in Kensington Estates[/quote] Saying Magnolia Woods/Kenilworth is not a desirable part of town because of its proximity to starring is like saying Kensington isn't desirable because it is by Orleans Dr., Conti Dr., and Metairie Dr. near the Circle K with the wheelchair man always cr...
Posted on O-T Lounge
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re: Bond for deed - bad idea? - NEWBIE
[quote] realtor and she should be able to answer a lot of the questions I have with it[/quote] Please speak with a real estate attorney, as opposed to your real estate agent, to explain the risks involved in a bond for deed and how to best structure the agreement to protect your interests. Man...
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re: lawyer recommendation needed - NEWBIE
First Secured Title on Gravier St...
Posted on O-T Lounge
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re: No-Limit Records influence in Baton Rouge: A look back - NEWBIE
Google maps. If you know which house was his, you will see his back yard was part of a levee....
Posted on O-T Lounge
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re: Obama: I Don’t Believe In Divisive Racial Politics - NEWBIE
[quote]“Unfortunately, too many politicians, they’re just climbing the ladder but they don’t know why, and when they get there then they’re not very effective leaders,” he explained.[/quote] Wow. Of all people to say this....
Posted on Political Talk
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