Real Estate Tax Planning

Attn: Financial Advisors?

married couple. both are 38. we have a child due in June.
We live in Vegas and want to move and get an affordable home. We do not own real estate. She has $5k and I have $20k in debt, both accounts are in collections. The only asset we have is 55,000 in a retirement account.

I filed Chapter 7 in 99. My current income as insurance and financial advisor is too high for 7 here in Vegas. Right now it is around $45k but can get much higher.

A chapter 13 concerns me because of the 3 years of payments, its effect on my credit and potential to get another good job should we move, and we may not be able to get a house should we move.

I could liquidate the retirement and pay off the debt and have about $10k left after taxes and early withdrawl penalties. This would also include the tax liability for the $19k I took from my account last year.

As a financial advisor, I know that the withdrawl we took last year was stupid.

MOM is giving me 50K for home purchase.

BK or pay?

Let me get this right. You are a financial advisor that filed bankruptcy and 99 and now are considering it again. In my opinion, you should have to disclose this to all of your customers. I would never consider going to you for financial advice. Sounds like you weren’t raised to take responsibility for yourself especially if MOM is giving you 50k for a home. She doesn’t realize that she is just enabling more bad behavior. Grow up, take some responsibility, and live on what you make. How are you going to feel when your child comes to you some day and says he/she is bankrupt for no reason other than irresponsibility.

First Time Home Buyer Credit – San Diego Real Estate

Real Estate Loopholes: Secrets of Successful Real Estate Investing $6.00 Finding wealth through real estate investing depends upon knowledge, a good plan, andbuilding a team of advisors and mentors who can provide the expert guidance needed. By examining the three keys of successful real estate investing-selection, taxation, and protection-REAL ESTATEloopholes shows what it takes to make a real estate investment work….

The Right Way to Hire Financial Help, 2nd Edition: A Complete Guide to Choosing and Managing Brokers, Financial Planners, Insurance Agents, Lawyers, Tax Preparers, Bankers, and Real Estate Agents $24.95 “The Right Way to Hire Financial Help goes where no other personal finance book has gone before. Chuck Jaffe offers solid, no-nonsense advice that can help people save–and even make–a bundle. Dont even think twice about hiring a financial professional until youve read this book.” — Gerri Detweiler, financial author and former director of the National Council of Individual Investors Hiri…

Tax Lien Advisor’s Overview of the Tax Lien and Tax Deed Industry (5 Volume Set) This FIVE VOLUME set on Tax Lien and Tax Deed investing includes EVERYTHING you need to learn how to succeed in the tax lien and deed industry. Forget those programs that cost hundreds of dollars and provide nothing by hype for more products. Forget those seminars that cost thousands of dollars. Each purchase includes a brief one on one phone consultation with the author….

81 Financial and Tax Tips for the Canadian Real Estate Investor (Hardcover) $21.53 Description not available.

Trump University Wealth Building 101 (Hardcover) $14.78 A guide to building and keeping personal wealth demonstrates a step-by-step approach that includes practical advice on money management, business ownership, real estate and stock investment, and effective tax and estate planning. Original.