With the upcoming holiday rapidly approaching, we should all start thinking about what we’re thankful for. You know, just in case someone at the dinner table puts us on the spot.
I’ve previously told you about the beauty of Roth IRAs.
To quickly recap: They give most working Americans the ability to sock away money, [...]
Archive for the ‘Taxes’ Category
A Hidden Benefit of Roth IRAs
Posted in Investments, Taxes on November 25, 2008 | Leave a Comment »
How to Deduct mortgage interest, point on taxes?
Posted in Real Estate, Taxes, tagged bridges to hope foundation, Real Estate, Taxes on March 28, 2008 | Leave a Comment »
How to deduct mortgage interest, points on taxes
Are you in the market for a mortgage loan? Whether the loan is to buy a new home or to refinance your existing mortgage, you must shop around. Contact a number of mortgage lenders. Get rate quotes for a fixed 30-year mortgage as well as for adjustable-rate [...]
What Every Realtor Needs to Know About 1031 Exchanges
Posted in Real Estate, Taxes, tagged 1031 exchanges, bridges to hope foundation, Real Estate on March 3, 2008 | Leave a Comment »
Successful real estate brokers apply a personal touch to their businesses. They remember birthdays, and ask their clients meaningful questions about their personal and financial goals. They also keep track of where their clients are in their individual life stages. If their clients are nearing retirement age, shouldn’t they want to simplify their financial affairs? [...]
Vacation or Second Homes and 1031 Exchanges, an Investor’s Options.
Posted in Real Estate, Taxes, tagged 1031 exchange, bridges to hope foundation, Real Estate, Taxes on March 3, 2008 | Leave a Comment »
With the recent gains in the real estate market, the approaching retirement age and increased mobility of the “baby boomer” generation, and the record wealth transfer now in full flower, professionals are seeing a growth in pent-up demand for Code Section1031 Tax Deferred Exchanges. Taxpayers are frequently asking their professional advisors whether they can qualify [...]
Failure to Close on Replacement Property (1031 exchange)
Posted in Real Estate, Taxes, tagged 1031 exchange, bridges to hope foundation, real estate taxes, Taxes on March 3, 2008 | Leave a Comment »
In order to complete a 1031 exchange and close on the replacement property in a subsequent tax year to the year in which the relinquished property is sold, it is absolutely necessary that the taxpayer file a Form 4868 Application for Extension to File Tax Return. Otherwise, the intended exchange will not qualify for tax [...]
Roll-Over the Sale Gains from your Converted Condo Units and Defer Paying your Tax Bill.
Posted in Real Estate, Taxes, tagged 1031 exchange, bridges to hope foundation, Real Estate, Taxes on March 3, 2008 | Leave a Comment »
The Economics of a Condo Conversion. Why convert your apartment units into condominiums? Several economic reasons are making it more lucrative to convert units into condominiums, including: (1) the escalating sales prices of the past few years; (2) developers paying substantial premiums to acquire and transform both large and small rental properties into condos; (3) [...]
Taking Cash Out of a 1031 Exchange without Receiving Boot: Tricky but Not Impossible.
Posted in Real Estate, Taxes, tagged 1031 exchange, bridges to hope foundation, Real Estate, Taxes on March 3, 2008 | Leave a Comment »
One of the central tenets of a delayed 1031 exchange through a Qualified Intermediary is that the taxpayer cannot have access to the proceeds from the sale of the relinquished property, except in the form of qualified replacement property transferred via the Qualified Intermediary. This restriction is consistent with the concept that an “exchange” of [...]
The Pros and Cons of Choosing a TIC as Replacement Property in a 1031 Exchange
Posted in Real Estate, Taxes, tagged 1031 exchange, bridges to hope foundation, Real Estate, Taxes on March 3, 2008 | Leave a Comment »
“Tenancy-in-common” (TIC) real estate properties are relative newcomers to the real estate investment market, having multiplied in number and complexity in the four years since the IRS adopted Revenue Procedure 2002-22, which formally allowed TICs to apply for Internal Revenue Service’s approval as a qualifying replacement property under Code Section 1031. The reason why we [...]
Contract (1031) Exchanges: A Money-Saving Shortcut for a Turbulent Market
Posted in Real Estate, Taxes, tagged bridges to hope foundation, Real Estate, Taxes on March 3, 2008 | Leave a Comment »
Contract exchanges (A Contract Exchange is the tax-deferred exchange of: The Buyer’s ownership in a Sales Contract on real property, for different real property, or for a contract or option on different real property; or the Option Holder’s exchange of an Option to purchase real property, for different real property, or for an option or contract [...]
Sample Savings (1031 Exchange)
Posted in Real Estate, Taxes, tagged 1031 exchanges, bridges to hope foundation, Real Estate, Taxes on March 3, 2008 | Leave a Comment »
Example Scenario 1:
Tim decides to sell a duplex that he has owned as an investment property for 10 years originally purchased for the amount of $70,000, and is now worth $750,000. His real estate broker has recommended that he engage Bayview 1031 to act as his Qualified Intermediary in a tax deferred exchange, thereby deferring [...]
