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Buying and selling real estate for personal use, investment, and for business is as popular as it has ever been. Federal and state governments have always provided support for real estate-related activities and there are many tax advantages built into the tax code.

If you are a real estate investor, you know (or need to know) that there are many tax traps for the unwary.

If you are buying or selling a house, you need to know the most tax-advantaged ways to handle closing costs. If you are the seller, you need to know how to take the maximum advantage of the capital gains exclusion.

If you are a real estate investor or professional, you need to know what expenses you can deduct, the best business forms, depreciation strategies, the tax implications of income types, and the advantages or disadvantages of being a dealer (versus an investor).

We are not real estate agents and we’re not trying to do a deal. We would like to help you analyze your real estate transaction from an independent business perspective and help you minimize your taxes.

We hope you find this information helpful.  Each situation is different. Contact us and we can discuss yours.  

 

Click links below to view articles.

Sale of Your Personal Residence – Capital Gains Exclusion

Sale of Your Personal Residence – Tax Planning

Home Office Deduction Tax Trap

Deductions for Real Estate Agents

Tax Implications of Fixing and Flipping

Vacation Home Tax Rules - Know the Rules, Take our Vacations, Make Some Money, and Deduct Your Costs (Up to a Point)