by kramoltz@hotmail.com | Mar 23, 2018 | Taxes
There are limits as to the type of properties that qualify for a 1031 Exchange. First, a seller must hold both the relinquished property and the replacement property “in a trade or business” or “for investment purposes.” The purpose of this rule is to ensure that...
by kramoltz@hotmail.com | Jan 5, 2018 | Taxes
1. Capital gains exclusion. In a huge win for current and prospective homeowners, current law is left in place on the capital gains exclusion of $250,000 for an individual and $500,000 for married couples on the sale of a home. Plans to make it much harder to qualify...
by kramoltz@hotmail.com | Dec 20, 2017 | Taxes
A 1031 exchange is a method to defer the payment of capital gains tax on commercial property. It involves a sale procedure where an owner sells a property and reinvests all of the sales proceeds into a new one, using a third party intermediary to complete the...
by kramoltz@hotmail.com | Feb 27, 2017 | Arizona and Its Amenities, Home Ownership
Like higher costs, fees and taxes? If not, come to Arizona. Arizona doesn’t impose costs on snowbirds upon sale of a home the way Florida does. Full time Florida resident property tax bills can’t rise more than 3% annually, while snowbird taxes can go up to 10%. Plus...
by kramoltz@hotmail.com | Feb 28, 2015 | Home Ownership, Renters and Renting
Renting a property, whether a residential or commercial rental, is generally considered to be a high liability business. As a result, reducing the possibility that creditors (which could include an aggrieved tenant) can reach your other assets is critical. That is...