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 28, 2015 | Renters and Renting, Taxes
Do you rent out real estate in Arizona? Are you a landlord with tenants in a former or second home in the Phoenix metropolitan area? If so, the government has imposed a new, controversial and burdensome tax requirement that will increase your record keeping duties...
by kramoltz@hotmail.com | Feb 28, 2015 | Taxes
The $8,000 tax credit scheduled to expire November 30, 2009 has been extended. Now a purchase agreement can be entered into up to May 1, 2010, as long as the transaction closes no later than July 1, 2010. It continues to cover first time home buyers, but has also been...
by kramoltz@hotmail.com | Feb 24, 2015 | Home Buying, Taxes
The loss of the new home buyer down payment assistance/gift program in mid-2008 couldn’t have come at a worse time. With the real estate market already slowing dramatically, the disappearance of the most valuable incentive to purchase a new home hit builders hard in...
