Depreciation is an artificial concept in the real world, but very real and practical for your bottom line when you file your taxes. Depreciation is a CALCULATION of how an investment property loses its value over time. Real estate is of course an asset (defined as something having ongoing value) however, in accounting, this real estate…
I was recommended to three siblings who owned a New York City co-op apartment that they sold for $10 million, but they had no idea what their costs were! They had no records to prove the original purchase price, or any improvements to the property at all which is crucial when it comes time to…
Throughout the Internal Revenue Code there are major benefits for real estate investing and homeownership. These benefits are there for everyone, not just Donald Trump and if you use them, they will make your portfolio so much more lucrative. The first we will look at is Capital Gains Tax Rates. Real Estate assets owned by an…
Buying your first investment property is an incredible achievement! Whether you completed the closing or are still in the planning stages of how to invest, the three commonly asked questions in this post will give you the information you need to know as a new landlord. Question #1- What are the qualities of a good…
Throughout the Internal Revenue Code there are major benefits for real estate investing and homeownership. They are there for everyone, not just Donald Trump and if you use them, they will make your portfolio so much more lucrative. Today, we will look at what is known as Code Section 1031. The ramifications of this tax law…
The purpose of these posts is to give real estate investors general information since our tax code is so dense with minutia and exceptions that it is impossible to give a one size fits all overview. My goal is to provide you with basic information that will allow you to delve deeper into the subject…
It is no secret that Crypto has taken the investing world by storm in the last couple of years. Anyone who says that Crypto is a fad must be mistaken – the public has invested trillions into this new asset class which undoubtably shows the demand not only to acquire but to exchange this form…
Words are powerful. Landlords and tenants have been around since the beginning of time. We don’t even have to do a google search to determine that the term landlord comes from the UK and signifies some scholarly gentleman who is the lord of the land that rents his property to you, the pauper. Times have…
You must understand this tax rule as a homeowner! Your home has one of the most far-reaching tax benefits in the entire Internal Revenue Code. A gain on the sale of your personal residence for a single individual is excluded up to $ 250,000 and $500,000 for a married couple. This means that these amounts…
Tip #1– Put your phones on silent the night before you list your property FSBO When you list your home FSBO your phone will be ringing off the hook from real estate agents trying to convince you to sell your home with them instead of doing it yourself. You will literally receive hundreds of phone…
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