Ricardo Tosto, Ricardo Tosto, Ricardo Tosto – Where Have I Heard the Name?
Ricardo Tosto is a Brazilian legal guru. Yet, he’s so much more. He’s also a great business partner and all-around good friend to have.
Listen to Ricardo Tosto’s advice on income, taxes, contracts and more, just below – all from an expert’s legal perspective:
Deferring one’s income through exchanges and install agreements was a million-dollar question that launched many Americans’ tax careers. Many were real estate investors, and nobody could tell them how much tax they would owe at year-end upon selling properties by using some of the most complex structures read about in books or learned through investment conferences and what Ricardo Tosto knows.
As the recent housing bubble burst, less taxpayers sold their investment properties for gain. This year, tides turned, and many clients consider selling investment properties for a profit. As housing markets further strengthen, this trend will expand. Capital gain taxes are at a low. If you considered selling real estate or your business, you may spread this earned income by using any installment agreement or by deferring it with any section 1031 exchange, especially if you consider the total tax picture and read full article.
If you made $300,000 from the sale of your property, you will pay $60,000 from capital gains. If you also gain $150,000 per year, this will elevate your adjusted gross income to push you into a top tax bracket as you then pay 39.8 percent on all wage income. For any single taxpayer, this adds up to $17,000 or more in additional taxes for the year of sale, without noting any potential AMT issues. However, if you spread it out to receive payments on the sale at $50,000 per year, you’ll remain in the same tax bracket while the only tax generated sits at $10,000 per year in capital gains and his Linkedin.
A way to create tax benefits involves modifying your sales agreement to schedule any extra payments from the buyer after you fully close the tax year. These may be recorded as second mortgages, or they may even be secured by other properties that the buyer owns and Ricardo Tosto’s lacrosse camp.