Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (23) | Ignore Thread Prev | Next
Author: Wradical Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121182  
Subject: Re: Taxes and roommates Date: 6/18/2013 10:02 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 4
Thanks, Ira, but it does feel like I'm getting scolded in some of the responses for even considering this. It seems that some folks are implying that I am forcing something down DS's throat because I haven't mentioned this to him, but the reason I haven't said anything is that first I'd like to know what is or isn't possible, and if I end up with finding nothing possible that meets my liking, I wouldn't want to disappoint him by first saying we were going to help him get a house, and then turn around and say 'never mind.' I see no reason to spin him up for something that might not happen.

Oh, no, you're not being scolded. Scolded is more like,
"Use your d@mn head for something besides a wig stand, will you!" Notice the subtle distinction?

I've been a CPA for 35 years, this fall. Telling people what they don't want to hear is not exactly a brand new experience.

And beyond taxes, your topic's OP stated what might be its biggest drawback:

"We have multiple goals here - helping DS to get a good place to live that is affordable to him, getting our retirement home, and possibly picking up some investment property along the way. These are in rough priority order.

Well, your multiple goals are in conflict, beyond it being a matter of priorities. And you need to get REALLY CLEAR about which it's going to be, for DS's sake. Is he going to end up being a homeowner, or just the interim resident caretaker of your future retirement home? That little question needs to be nailed down solidly, before you get into a convoluted ownership/rental arrangement.

Bill
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (23) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Post of the Day:
Apple

Apple and Ninety Years Ago
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement