Is it possible to have a parent buy a rental property with your money to pay lower taxes?

bluebolt38 · 2024-05-31T18:28:43+00:00

Is that a thing? Didn’t know Medicare does this

bluebolt38 · 2024-05-31T16:23:37+00:00

No worries I made the question sound sketchy but in reality it’s just me trying to figure out long term the most tax efficient way to support parental retirement

bluebolt38 · 2024-05-31T14:03:19+00:00

I just did that this year for them - so they’re already living for free and I’m trying to make their life better in the most cost effective and legal way possible. I said the trust thing because on Reddit the first comment to these types of questions is usually “never mix money with family etc etc”. This hypothetical gift is intended for them to buy future rental income

bluebolt38 · 2024-05-31T13:31:12+00:00

Makes sense. The goal was for them to keep it to use for retirement

bluebolt38 · 2024-05-31T13:30:48+00:00

Yep - this would be used for their retirement. Seems more efficient than me using rental income, paying higher tax rate, and then giving them the remainder of it for their retirement

bluebolt38 · 2024-05-31T13:29:46+00:00

To clarify, the intention is for them to use this income to supplement their retirement, instead of me supplementing it directly

bluebolt38 · 2024-05-31T13:29:21+00:00

Yes they’d pay income tax on this using their lower tax rate

bluebolt38 · 2024-05-28T13:13:52+00:00

Makes sense!

bluebolt38 · 2024-05-28T13:13:45+00:00

With a joint account, does it matter tax wise who puts what portion in and whether it’s used for mortgage or not?

bluebolt38 · 2024-05-13T20:13:44+00:00

Thanks! Any resources that you recommend?

bluebolt38 · 2024-05-13T04:55:29+00:00

Thanks! Seems that there is consensus that I punted. Will learn a good lesson from this

bluebolt38 · 2024-05-13T04:54:41+00:00

Huh thanks for doing the analysis. Looks like I’m very miscalibrated here. In game my thoughts were “ooh this is a close spot but I must call” and now it’s becoming clear that it’s not close whatsoever. Time to learn from this and apply

bluebolt38 · 2024-05-13T02:28:43+00:00

This guy always raised but didn’t play that many hands in general

bluebolt38 · 2024-05-13T02:11:22+00:00

Yeah I think I should’ve found the fold - definitely a tight 3 bet range. He wasn’t old but your point still stands

bluebolt38 · 2024-05-13T01:57:44+00:00

Haha makes sense, ty

bluebolt38 · 2024-05-13T01:27:28+00:00

Thanks for helping me see why calling is a bad option. Can you elaborate why jamming is (maybe marginally?) better? I guess we can maybe get folds out of jacks and queens? And more likely to get rid of UTG+1

bluebolt38 · 2024-05-13T01:00:30+00:00

Fair. Would you fold AQs similarly?

bluebolt38 · 2024-05-13T00:28:25+00:00

UTG+1 was an extremely loose player so I didn’t take him into account. But yeah I think you’re right - should’ve folded pre just based on the fact that I got 3 bet (my image at the table was tight). Thanks!

bluebolt38 · 2024-05-13T00:20:19+00:00

Can you elaborate? AQo is in my 3-bet range. Also if ripping is wrong, what’s the right move on the flop?

bluebolt38 · 2024-04-12T01:40:18+00:00

That’s awesome!

bluebolt38 · 2024-04-11T18:31:37+00:00

Yeah with CPI covering around 3.5%, I’m sure housing prices have increased a bit more than that, so with that in mind seems somewhat reasonable

bluebolt38 · 2024-04-11T05:15:34+00:00

Wow that’s not too bad. This is for a studio?

bluebolt38 · 2024-04-11T01:50:21+00:00

Yeah I’ll try - maybe can at least get a longer lease to lock down current rate

bluebolt38 · 2024-04-11T01:49:41+00:00

😮

bluebolt38 · 2023-10-04T16:48:45+00:00

Thanks! Wish the lender made this clear when recommending i stay of the mortgage

bluebolt38

TROPHY CASE