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The Water Cooler
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The Tax Man Cometh
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<blockquote data-quote="StLPro2A" data-source="post: 3765022" data-attributes="member: 48052"><p>Did you roll it over into home property? Hard to spend apples-to-apples in Midwest what homes sell for in CA, but land can be included in the property to avoid taxes and build land position. We rolled rounded topped off heavy duty tandem dump truck of money from 93 acres into 3800 acres, 80 acre lake, lodge nand out buildings, really big boys toys, second residences property. etc. to slap Caesar's greedy hands. Great chance to pick up some land, save the dwelling deduction for later when, if you downsize, need late life care money. While lending rates were near zero, sold home rolled into property, then borrowed on the cheap...money and taxes have been on a fire sale for several years......against the property rolling the cash into life insurance which becomes non-taxable later when needed for care costs or for beneficiary after I'm gone. The cheap loan interest rates are tax deductible and essentially free rounding error facing higher taxes post-Jan, 2026 when Trump tax cuts die. Life insurance is currently a good way to beat the tax man. Bible instructs to Give unto Caesar what is Caesar's. Caesar and I rarely agree on what is Caesar's. Jesus didn't tell us not to contest Caesar's greedy position. Move taxable pot money into non-taxable pots. Of course, Caesar will always try to expand his claims......ie life savings, senior investments, IRAs, eventually even Roths.</p></blockquote><p></p>
[QUOTE="StLPro2A, post: 3765022, member: 48052"] Did you roll it over into home property? Hard to spend apples-to-apples in Midwest what homes sell for in CA, but land can be included in the property to avoid taxes and build land position. We rolled rounded topped off heavy duty tandem dump truck of money from 93 acres into 3800 acres, 80 acre lake, lodge nand out buildings, really big boys toys, second residences property. etc. to slap Caesar's greedy hands. Great chance to pick up some land, save the dwelling deduction for later when, if you downsize, need late life care money. While lending rates were near zero, sold home rolled into property, then borrowed on the cheap...money and taxes have been on a fire sale for several years......against the property rolling the cash into life insurance which becomes non-taxable later when needed for care costs or for beneficiary after I'm gone. The cheap loan interest rates are tax deductible and essentially free rounding error facing higher taxes post-Jan, 2026 when Trump tax cuts die. Life insurance is currently a good way to beat the tax man. Bible instructs to Give unto Caesar what is Caesar's. Caesar and I rarely agree on what is Caesar's. Jesus didn't tell us not to contest Caesar's greedy position. Move taxable pot money into non-taxable pots. Of course, Caesar will always try to expand his claims......ie life savings, senior investments, IRAs, eventually even Roths. [/QUOTE]
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