MLR

Category: Real Estate

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If you own raw land as an investor, you can cash in on a tax break under Section 1237 of the tax code by subdividing the tract and selling off in smaller parcels.

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Let’s say you buy a vacation home and decide to rent the place. You incur a $4,500 loss for the year. You may think: What could be simpler than claiming this loss on my tax return?

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When natural disasters strike, it highlights the need for businesses to review their insurance policies. Your business could become a victim of Mother Nature, or any other catastrophe, without warning.

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Are you thinking about divesting a real estate investment and then replacing it with another property? If you sell appreciated property outright, you’ll incur a taxable gain, which lowers the amount available to spend on the replacement property.

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Are you thinking about divesting a real estate investment and then replacing it with another property? If you sell appreciated property outright, you’ll incur a taxable gain, which lowers the amount available to spend on the replacement property.

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Let’s say you own a C corporation that needs to raise some cash and you’re considering the sale of a warehouse that has been depreciated to zero.

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If you have a hard time finding a buyer for investment or commercial real estate, there may be an alternative that meets your needs and saves you taxes. Instead of selling the property, consider exchanging it for a comparable property you have had your eye on.

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In one U.S. Tax Court decision involving several consolidated cases, the court concluded that gains from a partnership’s land sales were high-taxed ordinary income rather lower-taxed long-term capital gains. We’ll explain the decision, but first let’s cover some background information.

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Losses can be used, within certain limits, to offset other highly-taxed income, such as salary from a job. However, in general, losses from “passive” activities can only be used to offset income from other passive activities. Any excess passive loss is suspended and must be carried forward to future years.

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If you’re planning to sell your business in the near future, it’s a good idea to “dress” your business for success to help attract the most potential suitors.