Before you jump – get professional help…fear and greed are going to come into play. It’s going to be easy to want to just jump. Say I have 2 million, I’ll get 1 million out of the deal let’s go for it…but…once you buy a house how are you going to sustain it? Maintenance, taxes, living? One thing you may consider is just exchange a small amount to reduce your tax exposure and then buy the large items like a house on time…Remember when you exchange that IQD you have a taxable event. You just obligated yourself to have to pay taxes… [NOTE – Consult your financial and tax professionals at the appropriate time to build the exchange plan best for your unique circumstances.]
Related Articles
BobTheTaxMan
October 9, 2024
BobTheTaxMan
April 28, 2023
BoBTheTaxMan
March 19, 2023
BobTheTaxMan
March 1, 2023
