“It is Never too Early for Tax Planning”

Mortgage and Lending with Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 NMLS # 6869

“It is Never too Early for Tax Planning”



Hi Joe,

I am in the process of some tax planning and need your assistance again. As you know I own three investment properties, there is very little debt on them. In my conversation with our accountant, we want to do the following. We want to refinance our residence and payoff the small mortgages we have on the investment properties and once completed, convey them to an LLC that will be in the name of my wife and our three children. The accountant explained the tax consequences, but we want to do this sooner rather than later.

If you recall you did the mortgage for us when we bought our primary residence, we estimate the value at around 800K, the current balance is 220K and we will need about 300K to pay off the investment properties.

If you can email a list of what we need to bring with us and when we can get together. We’ll make the trip down to see you as soon as you can squeeze us in.

Best wishes for the new year!




When I get together with these clients, I will review their tax planning and possibly discuss it with their accountant as well. I want to make sure that as we go through the process, we are accomplishing financial and personal goals with the least amount of tax consequences.



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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com



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Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Joe Petrowsky whether it's tax planning or any other financial planning, it's never too early.... and professional guidance is required.

Feb 03, 2020 03:41 AM #1
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Joe. Tax planning is similar to being a carpenter. Think it over more than once before you act. Like measure twice, cut once. Enjoy your day! 

Feb 03, 2020 03:55 AM #2
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

It's like Christmas and New Years rolled into one when you get emails like this

Feb 03, 2020 03:57 AM #3
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Personally I would not pay off the investment properties becasue the mortgage amount offsets taxes combined with the depreciation schedule.

Feb 03, 2020 06:26 AM #4
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Joe Petrowsky

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