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When it comes to taxes, many things can be confusing for taxpayers. One area of tax law that is often misunderstood is capital gains tax. Many people are unsure what capital gains tax is or when it applies. This can leave people feeling overwhelmed and unclear about...
With the given state of the real estate and credit market, taxpayers need to consider a 1031 exchange as a viable option for selling property. But what about seller financing? Can that be included in a 1031 exchange? The answer is yes, and there are some important...
When it comes to 1031 exchanges, one of the most important aspects of the process is following the identification rules. These rules are in place to ensure that the exchange is done correctly and that all of the proper documentation is filed. While there are a vast...
Are you considering a 1031 exchange but feel unsure about the costs for this type of transaction? While this is a popular type of real estate transaction, many people are still unfamiliar with the costs and processes involved. Here, we'll break down the different...
There are many things to think about when you sell a piece of property. You need to find a new home, figure out your moving costs, and get everything packed up and ready to go. But before all of that even begins, you need to think about taxes. There's a good chance...
When you sell a property, you may be required to make an earnest money deposit (EMD). An EMD is a sum of money that is paid to the seller as a sign of good faith. The purpose of an EMD is to show the seller that the buyer is serious about purchasing the property and...
Are you considering a 1031 exchange but feel unsure about the costs for this type of transaction? While this is a popular type of real estate transaction, many people are still unfamiliar with the costs and processes involved. Here, we'll break down the different...
If you are looking to sell an investment property, you may be wondering if you can take advantage of the tax benefits available through a 1031 exchange. Under Section 1031 of the Internal Revenue Code, investors who exchange property for "like-kind" property can defer...
One of the most important aspects of a 1031 exchange is understanding when to use a forward exchange. It can be challenging to interpret exactly when this type of exchange is necessary and the benefits of choosing one over other options. Many taxpayers are unsure of...
If you're like most people, you probably have at least one investment property. Maybe you're a landlord who owns a few rental homes, or maybe you've been lucky enough to snag a piece of the hot housing market and now own a second home that you rent out part-time....