Your Friend The Taxman???

As  a Realtor in Sacramento, or anywhere else for that matter, I can speak to many real estate issues, and navigate the market for and with you. After a decade of helping clients with their real estate needs, I am pretty well versed and in the instance I can’t answer a question immediately, I have a great network of other Realtors and brokers to consult with.

When it comes to taxes however…..sigh…..I can’t even begin to comprehend the depth of the tax code. It has us all confused, right? I do know, there is one portion of the code that helps you–the investor, the tax payer–avoid some or all of capital gains taxes. That is, if you’re selling one property and buying another like property. After all, an investor/owner can claim the depreciation for only so long (how long? See The Tax Code). Your tax professional can advise you on deductions and depreciation among other things. I can’t even begin to pretend to know what I’m talking about when it comes to taxes. Also, if you clicked on the link above for the Tax Code and actually read any of it, I commend you.

It’s the end of the year, and a lot of investors like to buy and exchange at this point in the year. The 1031 Tax Exchange is the portion of the code that can help an investor/seller->purchaser. Read this 10 point report from Forbes, consult your tax professional, and then let me know if you need Real Estate help. I’ll be here in the corner, hiding from the Tax Code!!

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