Category Archives: U.S. Taxes and Real Estate

Active and Passive Investing in Real Estate

Real Estate Investing can be classified under 4 types: residential, commercial, industrial and land, Residential can be both single and multi-family homes, townhomes, condominiums. Commercial can be offices, retail space, restaurants, and large multi-family homes. Industrial includes warehouses, factories, powerplants generally used for industrial businesses. Land comprises of unused or used primarily as undeveloped land. […]

Common Tax Deductions for Real Estate Entrepreneurs­­­

common tax deductions for real estate

Most real estate professionals are sole proprietors. This means that they are not someone’s employee, they have not formed a partnership with anyone, and they have not incorporated their business. They could work using their Social Security Number (SSN) or can also apply for an Employer Identification Number (EIN) with the IRS. The article covers […]

5 important things to consider when it comes to Rental Properties, Depreciation and Taxes

Depreciation is an accounting mechanism for recovering the cost in an income producing property (a   property that is used only for business or investment purposes). It is a capital expense and allows the owner of the rental property to spread the tax benefit of qualifying expenses over a certain lifetime. For residential rental properties, depreciable […]

Sec 1031- Like Kind Exchange as a tax deferment strategy- Paper 1

Sec1031 Like-Kind Exchange

Usually, selling a business or an investment property and then using its proceeds to buy a similar property becomes a taxable transaction. However, there is a way to avoid that and that is by allowing a Sec 1031 – Like Kind Exchange. What is a Sec 1031- Like Kind Exchange? It is a simultaneous swap […]

Sec 1031- Like Kind Exchange as a Tax Deferment Strategy- Paper 2

Sec 1031 - Like Kind Exchange (Paper 2)

Sec 1031 – Like Kind Exchange Paper # 2 is in continuation to Paper # 1 which was also on Sec 1031- Like Kind Exchanges. The latter can be found on my website at www.gavtax.com and also on my Facebook and Linkedin pages. In the first paper, the definition, benefits, eligibility, what types of properties […]

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