ComproTax Talks!

The Internal Revenue Service reminds taxpayers as part of their year end tax planning to be aware of recent tax changes as well as recently reinstated tax deductions.
“Some tax breaks and a review of your current tax situation may result in a bigger refund or less taxes to be paid come tax time,” said IRS [...]

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 March 3, 2008 by azrealestate
As if homeowners facing an inability to continue
paying their mortgages didn’t have enough to worry
about, the final blow was owing a very big tax bill
after a foreclosure or short sale or other form of debt
reduction. Typically, this would be an unexpected
blow just when the borrower thought the worst of their
troubles was [...]

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Thursday, February 28, 2008
Bill Evans Property taxes, interest rates, mortgage payments, repairs and living expenses can make home owning an expensive endeavor. Thankfully, there are many tax deductions that can make the experience more affordable.
Knowing the facts about these deductions will enable you to [...]

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By Broderick Perkins
Advertising provided by the Mercury News

Article Launched: 02/21/2008 04:06:46 PM PST

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Tuesday August 28, 2007
“Losing your house is bad enough. Owing Uncle Sam money in connection with your now-gone abode is the epitome of insult to injury,” writes tax journalist Kay Bell over at Don’t Mess With Taxes. Taxpayers who lose their homes might be left with a higher than expected tax liability. Debt canceled by [...]

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The Primary Residence taxation, the Residential Replacement Rollover, Sec. 1034 exception is gone. Previous capital losses still apply, if the property is held as investment property and sold at a loss and that loss can be carried over for up to 7 years. For those over age 55 the primary residence or residential sale exclusion [...]

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By Alan L. Olsen, CPA MBA (tax)
Managing Partner
Greenstein Rogoff Olsen & Co. LLP Wealth management is an important issue for those with substantial assets to protect. Many people incorrectly assume that their estates will escape federal estate tax [...]

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Borrowers would benefit from broader FHA access; some experts question bailout concept
By Mary Umberger | Tribune staff reporter
September 1, 2007

President Bush’s plan to help troubled mortgage [...]

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If you sold your main home and made a profit, you may be able to exclude that profit from your taxable income. Here’s how it works.
$250,000 Exclusion on the Sale of a Main Home
Individuals can exclude up to $250,000 in profit from the sale of a main home (or $500,000 for a married couple) as [...]

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As a real estate investor you most definetely have (or shoud have!) heard of the 1031 exchange.
If you haven’t heard of a 1031 exchange, I would suggest studying up on this capital gains deferral strategy even if you don’t plan to use it in the near future.
I may be biased, because I love leverage, but [...]

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