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Master Thread Dance Your Cares Away/Fraggle/Law Abiding Citizens

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FreeMiner

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Joined
Nov 27, 2021
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11,595
To be more precise, as long as it is your primary residence in 2 of the last 5 years you qualify for the CG exemption. We bought a house remodeled it for 2 years while living there and made it a short term rental. We sold it before year 5 and excluded the first $500k of cap gains.
Very smart. I wish I had of had a better accountant. When my wife died I had a 800 acre ranch and all equipment and cows paid for, and a 3 bedroom bungalow in town on the river on 3 lots. I worked my ass of to pay everything. I got raped. Between the Government and the extra medical expenses. It crushed me.
 

LVRebel

GIF specialist
Founder
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Dec 9, 2020
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3,046
I spoke with a Realtor yesterday about a property she is selling for a former client of mine I did the termite work on. Her client is an investor with an interesting M.O. He buys a house, moves in and does the repairs while living there, then sells it 2-3 years later. He rinses and repeats. Seems like a pain to do it that way. Maybe it has tax advantages for him - repair costs, moving expenses and the costs to buy and sell. Maybe the utilities are deductible, too.

A new twist on living while the government pays the expenses? Section 8 for the entrepreneur.
That sort of thing was huge in the Vegas market prior to the crash in 2007-08. If you live in a house for 2 years, you can write off the gains up to like 400k, or whatever that number is now. People used to build custom homes, live in them for 2 years while they were building another one, then sell the 1st one, move into the second one, and repeat the process. Make a nice chunk on each one and avoid most of the taxes since it's a primary residence. Once the economy tanked, much of that disappeared though.
 

ttyh

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Dec 1, 2020
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5,110
It appears that the United States is in the June 3 to July 2nd, 1934 period of German history. That is the time that is referred to as the Night of the Long Knives in Nazi Germany. That is when Hitler and those loyal to him began to arrest and kill political enemies. The Biden Administration is taking us there.

Indeed. Been saying for months they have made January 6 into their Reichstag Fire.
 

Law Abiding Citizen

Elite
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Joined
Dec 9, 2020
Messages
193
I spoke with a Realtor yesterday about a property she is selling for a former client of mine I did the termite work on. Her client is an investor with an interesting M.O. He buys a house, moves in and does the repairs while living there, then sells it 2-3 years later. He rinses and repeats. Seems like a pain to do it that way. Maybe it has tax advantages for him - repair costs, moving expenses and the costs to buy and sell. Maybe the utilities are deductible, too.

A new twist on living while the government pays the expenses? Section 8 for the entrepreneur.
The advantage is if you live there for two years, you don't pay any capital gains on the sale. Primary residences are Cap Gains exempt up to a certain cap.

EDIT: I guess MERLIN is gone for good. I think I might've been the 5th to answer.
 
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PowerMEGA

God Fearing Patriot
Founder
Joined
Jan 9, 2021
Messages
641
Shop Owner Stabs The Shit Out Of Thief.
Unfortunately, that store owner might end up getting prosecuted for aggregated assault or even attempted murder. He was not justified to use deadly force like he did. Perhaps he will be able to articulate a deadly threat, but based on the video of the event, he will have a hard time doing that. The fact that he posted about the event on reddit (he later deleted the post) won't help his cause either.

Active Self Protection is an awesome channel that breaks down video like this from a self-defense perspective. You can see his video about this event here:

Mass Murder no different than what Stalin did. Prosecute the Politicians, Health Officials and Doctors to the full extend of the law for Crimes Against Humanity and Mass Murder. It is Millions of Deaths Globally now.

The article is from February. It's highly doubtful that a 17 year old in the UK was eligible for the vaccine at that time. There is almost a zero chance that the death is vaccine related.
EDIT: Article is from a 2022, not 2021. Very good chance this young man was vaxxed.
 
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