Juan Pistolas

[Juan Pistolas @johnLseale]

@BrutaINature1 I think the zebra would rather just get shot by poachers than deal with being eaten alive.

[Juan Pistolas @johnLseale]

@thestrength_co Stuff these in your pockets and gof or a walk to build legs 💪

[Juan Pistolas @johnLseale]

@DallasAptGP Any property in the zone or are there parameters?

[Barrett Linburg @DallasAptGP]

The IRS Gives a stepped up basis to 2 kinds of people

Dead ones

And Opportunity Zone investors who hold ten years

Only one of them is alive to spend the money

Here's the break. It's called a stepped-up basis, and it's the most valuable gift in the tax code

When you buy an asset, the IRS keeps track of what you paid. That is your basis. Sell for more and you owe tax on the gain.

Simplistically, buy a building for $10M, sell for $25M, you pay tax on the $15M

A little more advanced, you can also take depreciation losses when you hold real estate which can reduce your basis below $10M and you would also owe tax on that when you sell. That is called depreciation recapture.

A step-up erases both by resetting your basis to today's value. The gain and depreciation recapture vanish. No tax due.

The IRS doesn't give this away easily.

Until 2018, the only way to get it was by dying and then your heirs would inherit the building at its new value. The gain disappears. They can sell it the next day and owe no taxes.

Sometimes people say that the point of doing 1031 exchanges is to "swap til you drop" or "buy, borrow, die". The point is that they never want to sell while they are alive because selling would trigger a tax. However, if they hold until they die then their heirs don't owe any taxes.

This still works but they can only enjoy the cashflow that the assets produce or what they can borrow against those assets during their lifetime.

Opportunity Zones were created in 2018 and are now the 2nd way to get a stepped up basis.

This time, you don't have to die.

The government created this program to encourage people to invest in certain low/moderate income areas throughout the country. In exchange, there are big tax incentives.

If someone has realized a capital gain, then they have 180 days to invest the capital gain into an Opportunity Zone. If they remain invested in that real estate for 10 or more years then they get a stepped-up basis (without dying)

[Juan Pistolas @johnLseale]

There is no better snack, come at me

[꒑꒑ @altjjco]

Mango with Tajín is proof that perfection exists.

[Juan Pistolas @johnLseale]

@philosophymeme0 It’s crazy how many African and Asian dictators came from French universities.

[Puppies & Positivity @Puppieslover]

This is always adorable

[Juan Pistolas @johnLseale]

@aggreko07 @Polymarket Have to protect the children. What a nasty premise.

[unusual_whales @unusual_whales]

"AI is likely to produce neither a job apocalypse nor productivity utopia, but something harder to measure: a quiet degradation of the quality of the jobs that remain," per Bloomberg

[Juan Pistolas @johnLseale]

@newstart_2024 @ChrisWillx @aggreko07 i would go even further and say God must be used to guide ethical science. Thus physicists create nuclear energy, not bombs. Rockets engineered to take you to moon, not delivering ICBMs.

[Juan Pistolas @johnLseale]

@buitengebieden @aggreko07

[Juan Pistolas @johnLseale]

@handleitgrips @aggreko07

[Juan Pistolas @johnLseale]

@barstoolsports @aggreko07 “Look Hans, ze armpits are not hairy! Das ist so crazy ja?”

[Juan Pistolas @johnLseale]

@AlexForbesOps And its a V6 😭

[Juan Pistolas @johnLseale]

@nobodylistens61 @Brian_Peotter It’s amazing what I can do with just a screwdriver.

[Juan Pistolas @johnLseale]

@CuriosityonX @aggreko07 😂

[Juan Pistolas @johnLseale]

@LeoDaVinciWave @aggreko07 strong gift idea

[Lord Bebo @MyLordBebo]

⚽️🇮🇹 "Free drinks during all Italy World Cup games"

*BTW, Italy failed to qualify World Cup

Bastards...

[🌷🦋 Love Music 🎶 & Dance 💃🏻🕺🏻 @Tiana_Celine_23]

These marriages are very healthy!! Such unique, inventive plays of humour❤️