If your homeowner client hasn’t filed their taxes yet, it’s not to late to review available deductions.
Last-minute tax reminders for homeowners
read more
Tax Benefits of Ownership
Learn what drives your clients by learning the profit tax implications of real estate transactions. Stay current on the latest news, videos, forms, and updates for Tax Benefits of Ownership.
Latest Articles
Your home, your tax shelter
A quick snapshot of the tax deductions available to homeowners this year. Related articles: 2014 Personal Income Tax Deduction Schedule FARM letter: New guidelines for the real estate tax deduction
Is a taxpayer required to exhaust administrative remedies before claiming a refund of taxes assessed on property they do not own?
A California Court of Appeals decides.
Disabled veterans’ property tax refund window extended
Disabled veterans now have an eight-year window in which to file for a refund of property taxes paid.
Rules for the valuation of comparable property
Calif. Revenue and Taxation Code §402.5 Amended by A.B. 1143 Effective date: September 15, 2014 When determining property values for property tax assessments, a county assessor may not consider the value of any property sold more than 90 days after the valuation date,...
LLC contract voidability for failure to file tax returns
Calif. Revenue and Taxation Code §§23304.1 and 23305.5 Amended by A.B. 1143 Effective date: September 15, 2014 Beginning January 1, 2014, contracts entered into by a foreign limited liability company (LLC) which has: not qualified to do business in California; does...
Is a partnership-owned LLC subject to a documentary transfer tax for a change in ownership of property it holds when more than 50% of the interests in the partnership are transferred?
A partnership formed by a family trust establishes an LLC, naming the partnership as its sole member, to hold title to a property.
May a request to transfer the base year value of a property taken by eminent domain to a replacement property be granted outside the state’s time limitation?
An owner’s property is taken by eminent domain.
Cotenancy interest transfer is not a change in ownership
Revenue and Taxation Code §62.3 Added by A.B. 1700 Effective date: January 1, 2013 The transfer of a deceased cotenant’s real estate interest to another cotenant is not a change in ownership triggering property reassessment for property tax purpose if: the transfer is...
Errata & Updates
- No corrections currently reported.