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Walt Berhalter
"Also Chief Instructor for Century 21 All Islands"
- 4 Helpful Answers
- 10 Answers
Profile Link:
Experience:
1980 for Private Attorney
July 1980—present
Admitted to WN bar 1980, to US S.Ct in 2003, Tribal judge, prosecutor, estate and taxation,…
Admitted to WN bar 1980, to US S.Ct in 2003, Tribal judge, prosecutor, estate and taxation,…
Director of Education for All Islands Real Estate School
July 2008—present
Responsible for internal education for 450 agents and staff, Prelicensing and Broker training…
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Responsible for internal education for 450 agents and staff, Prelicensing and Broker training…
Specialties:
Sales, Sales Management, Education and Teaching. Microsoft Office Master Instructor
About:
Teacher, Professor, Attorney, Judge, CEO of International Marketing Corp in Dublin, Ireland, Sales Manager, MONY Life Insurance for the NW Inland Empire,
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Testimonials:
""Walt is smart, articulate and funny. In his role as my sales manager he was always fair and generous with his time, he always offered his opinion and
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Walt Berhalter answered:
Answer: NO
Simple question, potentally convoluted answer: Under Section 101a of the IRS Code, any income is taxable unless specifically excluded. That said, we then have to look at the exclusions (don't overlook the value of direct tax credits in the plan either - they are worth considerably more than deductions).
The code section you elect for a tax shelter depends on the nature of the source of the gain and the nature of the investment. For example, 1031 applies to investment property rollover only (congress even decided that agracultural animals of different SEX were not like kind exchanges... go figure). Good advice from a qualified professional is strongly advised -- in advance.
The residence shelter rollover also has some exceptions if you have to sell it within two years.
There are numerous planning opportunities that a good CPA or CLU / CHFC can detail with you. Should you decide to investigate real property as an option, that is where your good Realtor on Hawaii can help.
If of any help, I've been a licensed attorney in the US Tax Court over 30 years before getting into real estate.
For more information on me please see my company web site below.
Good luck,
Walt Berhalter, Sales Manager, Century 21 All Island. Kauai and Big Island
GRI, ABRM, E-pro, JD, MBA, CLU, BAEd , RA ...
waltb2b@cs.com
Simple question, potentally convoluted answer: Under Section 101a of the IRS Code, any income is taxable unless specifically excluded. That said, we then have to look at the exclusions (don't overlook the value of direct tax credits in the plan either - they are worth considerably more than deductions).
The code section you elect for a tax shelter depends on the nature of the source of the gain and the nature of the investment. For example, 1031 applies to investment property rollover only (congress even decided that agracultural animals of different SEX were not like kind exchanges... go figure). Good advice from a qualified professional is strongly advised -- in advance.
The residence shelter rollover also has some exceptions if you have to sell it within two years.
There are numerous planning opportunities that a good CPA or CLU / CHFC can detail with you. Should you decide to investigate real property as an option, that is where your good Realtor on Hawaii can help.
If of any help, I've been a licensed attorney in the US Tax Court over 30 years before getting into real estate.
For more information on me please see my company web site below.
Good luck,
Walt Berhalter, Sales Manager, Century 21 All Island. Kauai and Big Island
GRI, ABRM, E-pro, JD, MBA, CLU, BAEd , RA ...
waltb2b@cs.com
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