I have a motivated seller that is willing to sell me his property far below FMV and take the majority of his profits because he does not want to pay 60%+ in capital gains tax. I have yet to talk to my CPA on this matter but was hoping some of the more experienced students would have some knowledge on this subject. Are we responsible for property gains tax if we do assignments? Any info would help.
Thank You
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Don't spend so much time planning for the future that you miss out on everything you planned for. Get out and get it! Concentrate, Elevate, Dominate and Innovate.
I have a motivated seller that is willing to sell me his property far below FMV and take the majority of his profits because he does not want to pay 60%+ in capital gains tax. I have yet to talk to my CPA on this matter but was hoping some of the more experienced students would have some knowledge on this subject. Are we responsible for property gains tax if we do assignments? Any info would help.
Thank You
Don't spend so much time planning for the future that you miss out on everything you planned for. Get out and get it! Concentrate, Elevate, Dominate and Innovate.