I have been told that community property with right of survivorship is better for the survivor. I need your help. I don't know it's right or not. Thanks.
Chosen Answer:
joint you both own it together and separate , and can sell one half your interest , community you own together if one dies the other owns it , with no immd tax
by: learningnewthings
on: 14th October
Saturday, October 8, 2011
Friday, October 7, 2011
Cost Segregation - 90% of real estate investors are overpaying their federal income taxes
By ignoring generous IRS guidelines when establishing depreciation schedules, over 90% of real estate investors are unintentionally overpaying federal income taxes. In addition they are paying federal income taxes earlier than necessary, typically years or decades earlier than necessary. Although these IRS guidelines are relatively new, they provide substantial benefits. Since this is a relatively new issue, many accountants have not integrated the new IRS depreciation guidelines into their practice. Savings for real
Thursday, October 6, 2011
Andorra Real Estate Rises Again 2006
While property prices have risen in most parts of Europe, tax havens have outstripped most for property inflation.
Little known outside of the skiing and financial communities, the small European tax haven of Andorra has seen some startling rises in her property values in the last two years, with a repeat performance in 2007 possible.
In 2005 property inflation hit 19 per cent, and in 2006 the official property inflation reached sixteen per cent, and according to Andorra property specialists Tribune Properties 2007
Little known outside of the skiing and financial communities, the small European tax haven of Andorra has seen some startling rises in her property values in the last two years, with a repeat performance in 2007 possible.
In 2005 property inflation hit 19 per cent, and in 2006 the official property inflation reached sixteen per cent, and according to Andorra property specialists Tribune Properties 2007
what is a real estate tax stamp? I live in New York state.?
I am refianancing my mortgage, combining 2 loans and was told today I need to have 00 at closing because of these tax stamps.
Chosen Answer:
It's a mortgage tax and it's based on a percentage of the amount you are going to borrow. Seems like a lot of money. Maybe you need to shop around to get better closing costs for your refinancing. The mortgage company (or bank) has to provide you, by law, a detailed description of all closing costs before the closing. Don't go to the closing if you haven't been provided that. Again, shop
Chosen Answer:
It's a mortgage tax and it's based on a percentage of the amount you are going to borrow. Seems like a lot of money. Maybe you need to shop around to get better closing costs for your refinancing. The mortgage company (or bank) has to provide you, by law, a detailed description of all closing costs before the closing. Don't go to the closing if you haven't been provided that. Again, shop
Wednesday, October 5, 2011
Two (2) Ways to Take Your Rental Real Estate Losses
Even if you have strong positive cash flow from your rental real estate, chances are you still have a loss for tax purposes due to the depreciation deduction.
This is a great tax strategy because your positive cash flow is sheltered from tax. But, it can be even better if you are able to take your losses against your other income (like your income from your job or the business that you run).
The general rule for rental real estate losses is that they are passive. This means they can only be taken against passive
This is a great tax strategy because your positive cash flow is sheltered from tax. But, it can be even better if you are able to take your losses against your other income (like your income from your job or the business that you run).
The general rule for rental real estate losses is that they are passive. This means they can only be taken against passive
qestion in deductions, real estate tax?
Here is my situation: real estate tax for home, 00, doing tax return with taxcut
I entered real estate tax in Form 8829 for business use of my home, it deducts 0 in business expense for the 10% use of home business on Schedule C.
when I am upto the real estate tax in deductions, should I enter 00 as my real estate tax?
I am confusing since I see this in taxcut:
What about real estate tax that I entered for my business?
If you already entered real estate taxes in the Your Own Business (Schedule C) topics, don't enter those same taxes
I entered real estate tax in Form 8829 for business use of my home, it deducts 0 in business expense for the 10% use of home business on Schedule C.
when I am upto the real estate tax in deductions, should I enter 00 as my real estate tax?
I am confusing since I see this in taxcut:
What about real estate tax that I entered for my business?
If you already entered real estate taxes in the Your Own Business (Schedule C) topics, don't enter those same taxes
Tuesday, October 4, 2011
Concerning the real estate tax credit?
If you would want to take advantage of the first time home buyer tax credit, do you only need to have a signed contract? Or do you need to also be approved for a loan and have a signed contract?
Thank you
I am in the process of moving to another state and am trying to sell my house. My friend, who is already approved and we are waiting to close, is purchasing the property. The question just came up and I though I would give YA a shot.
Chosen Answer:
You need a signed contract this month, and the entire thing needs to be complete by
Thank you
I am in the process of moving to another state and am trying to sell my house. My friend, who is already approved and we are waiting to close, is purchasing the property. The question just came up and I though I would give YA a shot.
Chosen Answer:
You need a signed contract this month, and the entire thing needs to be complete by
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