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.
This article examines the arguments for protecting the mortgage interest tax deduction (MID), reveals who truly benefits from the subsidy and questions both its viability and actual use as a marketing tool by real estate brokers and agents.
This article examines the FTB audits enforcing property tax deduction limitations for 2012 state tax returns – and the backlash from some members of the California Assembly.
Unbelievable as it may be after decades of thievery or gross negligence, no entity, either government or private, is responsible for the oversight of intermediaries in a §1031 exchange. To protect investors and their brokers from negligent or unscrupulous...
26 Code of Federal Regulations 601.105 Amended by Revenue Procedure 2012-23 Effective date: immediately The Internal Revenue Service allows a first-year bonus depreciation business deduction of $8,000 for automobiles acquired in 2012. The first-year bonus depreciation...
Income property brokers, heads up: a 100% first-year depreciation deduction is available on qualified TIs. If you made improvements, or negotiated a nonresidential lease in 2011, forward this one on as a tax reminder! Internal Revenue Code §168(k)(2) Amended by Rev....
A look at the state legislation affecting real estate enacted during the 2011-2012 legislative session, and federal legislation enacted in 2012.
Use this FREE first tuesday FARM letter copy in your marketing! Have a topic you’d like us to write about? Email editorial@firsttuesday.us and let us know! Here are some simple guidelines for how and when to report shortsale or foreclosure sale discounts, called...
California’s governor has proposed a 0.5% increase in state sales tax in reaction to “partisan gridlock” that affected 2011’s budget process. first tuesday take: Should this increase occur, it will have no effect on the price of first tuesday continuing education and...
It's tax season! This year, make sure you file the required itemized report on any real estate tax deductions you claim, as well as include the parcel number and amounts that can or cannot be deducted. Deductions may be claimed for state, local and foreign real estate...