Real Estate

Year-End Planning for the New Rules on Deductions

December 1, 2018

The sweeping Tax Cuts and Jobs Act (TCJA) makes many significant changes that will impact your year-end tax planning strategies. One of the biggest areas affected is planning for deductions. Itemizing: Will you or won’t you? When determining your year-end strategies, you first need to figure out whether itemizing will still be beneficial for you.…

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Investing in Your Business is Still a Powerful Year-End Tax Planning Strategy

November 19, 2018

With the end of the year rapidly approaching, many business owners are wondering what they can do to reduce their income taxes. One of the best strategies continues to be investing in business assets that will provide large depreciation-related deductions. In fact, such investments could provide larger deductions in 2018 than in 2017, thanks to…

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What to Consider Before Teaming Up

April 23, 2018

As a result of rising facility costs, many nonprofits throughout the United States are beginning to consider shared workspace arrangements. This is of particular interest in areas where organizations are being priced out of the real estate market. Nonprofits who are looking to cut operating costs can also benefit from such a move. Options to…

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Why You Might Not Want to Include Corporate Assets with Business Assets

July 1, 2016

There are a multitude of reasons why you may choose not to combine real estate and other assets within a single entity. For instance, your business may be liable if injuries occur on the property, or if the company is confronted with legal liabilities, this may affect your ownership of the property. Tax savings, limited liability and flexibility are just a few of the reasons that holding real estate in a separate entity may be beneficial to you.

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The Responsibilities of Being an Executor

June 1, 2016

Before a person agrees to be an executor of an estate, he or she should understand what the role entails. While serving as an executor can be an honor, the role carries significant responsibilities, as well as possible liabilities if the executor fails to protect the deceased’s assets. This article highlights the various tasks required by an executor (known as a “personal representative” in some states), which include taking inventory of the deceased’s assets, protecting and distributing a deceased’s property that passes under his or her will, arranging for payment of debts and expenses, filing tax returns, and closing the estate. A sidebar explains how an executor is compensated.

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What’s the Tax Impact of Owning a Vacation Home?

December 16, 2015

For the lucky ones who own a vacation home, it can be a place to relax and recharge with family and friends. However, it can also impact their taxes, especially if they rent the home to others when they’re not using it. This article explains the rules under various scenarios.

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