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Taxes

Top Ten Income Tax Benefits For Real Estate Investors

by Kevin Perk April 15, 2013

It is tax day, April 15th. A good time to remind people that it is not about what you make, it is about what you get to keep. One of the best things about being a real estate investor is the many federal income tax advantages that are available. Real estate investing lets you keep [...]

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Taxes

April 15th is Approaching: How to Get Ready for the Tax Man

by Mark Purtell February 23, 2013

There are less than two months until the big day. Do not wait until April 14 to get all of your 2012 real estate books and records in the mail. You should have started January 1 of last year so you were ready to do your taxes on January 1 of this year. However, if [...]

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Taxes

Should You Prepare Your Own Tax Returns?

by Kevin Perk January 14, 2013

It is a new year. That means resolutions, new goals and plans and of course income taxes. April 15th is not that far away. There are many income tax benefits to the real estate investor. Getting them however can be a bit daunting and definitely time consuming. There are 1040’s, 1065’s, Schedule E’s, Schedule C’s, [...]

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Taxes

How to Reduce Your Property Tax Assessment

by Kevin Perk October 8, 2012

The downturn in the real estate market has created a potentially ideal situation for anyone who holds real estate. This is because you have a good chance of reducing your property tax assessment and thus your property tax burden by appealing the value. I have saved thousands of dollars by appealing my property tax values, [...]

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Taxes

Partial Tax Deferred Exchange? You Bet

by Jeff Brown August 21, 2012

In last week’s post, in which I interviewed Qualified Intermediary & 1031 Expert Bill Execter about 1031 exchanges, questions were asked and answered as to how to ensure a successful closing of an exchange transaction. But the reader could have very credibly inferred that 1031s are an either/or proposition, which is patently false. The fact [...]

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Taxes

Tax Deferred Exchanges — 1031s — THE Crucial Question

by Jeff Brown July 31, 2012

I literally haven’t a clue how many exchanges I’ve executed in my career. When asked, I usually just say ‘over 200′ cuz that’s when I stopped the silly practice of keepin’ score. Wanna know how to prove I’ve never had an exchange disallowed or fail? That one’s easy — cuz I’m above ground writin’ this. [...]

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Foreclosures

Look Both Ways Before You Walk

by Richard Warren December 5, 2011

So many people have walked away from homes that are hopelessly underwater. With little prospect of recouping their losses, or faced with a difficult personal financial situation, they have made a decision to let the bank foreclose. Prior to 2007 this would have resulted in an income tax liability on the amount of any forgiven [...]

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Taxes

Investors: Lower Your Taxes – Here’s How

by Jeff Brown November 29, 2011

We’re in the back stretch of 2011, which bodes well for folks contemplating some tax related moves. Here are some suggestions you may want to put into your own arsenal. Though basic in nature, I’ve learned most tax preparers definitely aren’t proactive in digging for tax savings beyond the normal deductions. You’ll notice a common [...]

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Taxes

Can Real Estate Investors Deduct Travel Expenses? Yes, but . . .

by Charles Perkins September 1, 2011

The Travel Deduction is Often Mishandled by Real Estate Investors Many real estate investors do not understand the rules and regulations related to the deduction of travel expenses. While real estate investors are allowed to deduct travel expenses, the deduction is limited when compared to business owners. Real estate investors are allowed to deduct ordinary [...]

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Real Estate Investing

How to Automate Your Real Estate Bookkeeping

by Andrew C. MacDonald May 16, 2011

One of the least popular tasks for many real estate investors is bookkeeping. Whether or not it is your cup of tea, I have a couple simple tips for automating the process so you can free up your time for some of the other tasks you like better. This system isn’t quite fully automated, but [...]

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Taxes

Real Estate Professional Status: The IRS Has Read Sun Tzu

by Clint Coons March 25, 2011

It would appear the IRS has read Sun Tzu’s “The Art of War” and is applying his strategy of “avoiding what is strong to strike at what is weak.” Albeit compared to four years ago the real estate market is weak even if it is beginning to show signs of stability. So who better than [...]

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Real Estate

Considerations for April 15, 2011 Tax Deadline

by Clint Coons March 19, 2011

As we approach April 15, 2011, our call volume dramatically increases. Individuals desperately seeking to reduce their 2010 tax liability inundate my firm with deduction related questions. Ironically, like asset protection planning that begins upon notice of a lawsuit, tax planning for 2010 should have begun over a year ago; but alas, such is the [...]

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Taxes

Installment Sales or Dealer Status: Be on the Right Side of the Fence

by Kevin Kaczmarek March 2, 2011

As a real estate investor, when we hear about selling on contract terms it excites us! Selling on contract terms opens a whole new buyer pool for our business and allows us to get better pricing for our houses. When we sell on contract, we as the sellers make assumptions on how the taxes are [...]

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Taxes

C Corporation: The Active Real Estate Investor’s Preferred Choice of Entity

by Clint Coons November 25, 2010

A common question among many real estate investors I meet is “should I form a C corporation or an S corporation for my short term investing (short term investing is commonly viewed as fix and flips, wholesaling, or just about any investing that does not have an investment intent.)? My standard answer is almost always [...]

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Real Estate

An Alternative to The Self Directed IRA

by Clint Coons November 11, 2010

Last week I discussed some of the prohibited transaction rules concerning retirement accounts. The point of my post was to make readers aware of the minefields that exist when investing in real estate in these accounts. These rules apply to all forms of retirement accounts, i.e., IRA, 401(k), ROTH IRA, Defined Benefit Plans, ESOP, 401(a), [...]

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