Hi @Ryan Bakke, CPA , a few months ago I reached out for your opinion on selling a property near Long Beach, CA. I was wondering if you can help me figure out how much in capital gains tax I'd anticipate if I sell outside of the section 121 exclusion. We are in the highest tax bracket, filing married jointly. Home bought: $920,000. Proposed home sale: $1.1 M. We moved in March 2021. Moved out May 2024. June 2024 we began renting out to an LTR tenant. Thinking of selling either summer 2027 or summer 2028 (when it's not such a buyer's market). My question: Since the 2 years for section 121 does not need to be consecutive, can I hypothetically convert it to an STR in Jan 2027 -July2027 (and depreciate what I could, cost seg it..etc), then move in myself July 2027-July 2028 and still claim the section 121 exclusion in 2028? Given the info, what do you think my capital tax will be IF i sell outside their "2 year" rule? Thank you!

Hello I have a small business and need to purchase an old or new car. What are my tax benefits? What options do I have? Does it have to be new and made in the USA to take advantage of the depreciation deduction? Or are there other options?

Hello! Is late November closing considered too late to get a cost seg stud done and meet all the requirements?

Are there strategies for reducing self employment tax? My husband is self employed in a different business and I have the real estate LLCs in my name. Assuming not but still curious! Thanks!

When both spouses are doing the same activity, do you get to count the hours of both individuals towards material participation? For example, if we both read and review a document, can we count total hours spent by both of us or only one? Thanks!