3.8% Real Estate Tax
The NAR published an article regarding the 3.8% real estate Medicare tax that was included as part of the health care bill. Be aware that this tax goes into effect in 2013 and has nothing to do [...]
3.8% Real Estate Transfer Tax – Effective 2013
Further clarification/opinion regarding the 3.8% medicare tranfer tax on profits beyond certain thresholds included in the health care bill. I’ve written about this one several times [...]
Zero Income 1031 for Foreclosure or Deed in Lieu
If you lose a commercial property to foreclosure or do a deed in lieu, you may still owe capital gains on the lost asset. Many owners opt for a zero income property as a 1031 exchange as a [...]
Deficit Panel Recommends
We all probably knew most of this was coming – Eliminating or reducing the mortgage interest tax deduction Increasing retirement age Reducing Social Security COLA increases Reducing or [...]
Creative 1031s
Tax attorney Steve Rosansky’s newsletter arrived today and covers creative 1031 exchanges plus the new small business 1099 reporting requirements for business related purchases of over $600. [...]
Small Business Stimulus Bill Passed by Congress and Signed by President
The President, on Monday, signed into law the Small Business Jobs Act of 2010. The bill, which Congress passed last week, expands loan programs through the U.S. Small Business Administration [...]
1031 – Distressed Property acquisitions
This piece, authored by Steve Rosansky, goes into great detail regarding how to properly treat distressed property purchases in 1031 exchanges. As always, see your trusted CPA or tax attorney [...]