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Originally Posted by bdjuf
are US laws similar to Canadian RE laws? Such as you are allowed to trade up Real Estate and pay no taxes those?
Also, did you get a RE training and licence? Or do you not need one for doing what you do?
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In the USA you can reinvest your capital gains you make from a sale of a property into another property and not pay tax on it (at least that is what I heard last time I looked into it). However in Canada you are liable on your capital gains on properties but there are ways to minimalize your tax exposure... Best thing to do would be to contact a good tax accountant that can go over your personal situation and suggest the best route.
I don't have a RE license but one of my staff is just finishing their test so they will be able to buy/sell properties on behalf of me and we will be able to reap the rewards.
DH