Inherited Property Tax Treatment
It can be difficult to plan for and navigate the changing legal landscape when you are deciding how to pass on a property or other assets to your family. There are many different federal and state tax laws for you to consider when you write a will. Luckily, there are many incentives at the federal […]
Strategies to Avoid Taxes on Property Sales
If you own a real estate property and plan to sell it soon, there are many strategies that can allow you to either lower your capital gains taxes or even completely eliminate the need to pay capital gains taxes. These benefits are available for anyone who wants to sell their personal property or investment property. […]
Opportunity Zones
Investors who want to lower their capital gains taxes should focus on identifying investments in Qualified Opportunity Zones. People who Invest in these areas of the United States can either defer capital gains taxes or avoid paying capital gains taxes if they hold the investment long enough. This article will discuss some of the laws […]
Section 179 depreciation and MACRS Depreciation Categories
Section 179 and MACRS are two very important depreciation categories that can allow businesses to rapidly depreciate assets in the first year to enjoy tax saving benefits. This article will cover some of the benefits of Section 179 and MACRS depreciation, and explain some of the new tax benefits that were created under the Tax […]
Depreciation under the TCJA, including Bonus Depreciation
It is crucial for small business owners to be aware of some of the new changes in the Tax Cut and Jobs Act ( TCJA), as these changes can help small businesses initially pay less in taxes. New changes under the TCJA allow small businesses to enjoy bonus depreciation in the first year, of up […]
12 Tax Deductions That Can Save Construction Businesses Money
The construction industry has proven to be quite erratic, consistently riding the many waves of the economy. According to a 2018 infographic by EHS Today, $10 trillion is spent annually by construction businesses for construction services. Consequently, construction companies in the country spend top dollar on tax. However, this does not have to be the […]
Bay Area Homebuyers Have State and Federal Options for Low Downpayment Mortgages
California and the federal government have programs that can reduce, and even eliminate, the down payment requirement for middle-to-low-income homebuyers
Federal, State, and Local Programs Offer Assistance to First-Time Homebuyers in the Bay Area
We will break down the programs available to Bay Area homebuyers by looking at such factors as which homebuyers qualify the amount of money available.
Opportunity Zones Offer Tax Deferrals to Real Estate Investors, But Benefits Should Be Weighed Against Like-Kind Exchanges
Real estate investors looking to shield their capital gains from tax are often curious about the Opportunity Zones that were created in the Bay Area following the adoption of the 2017 Tax Cut and Jobs Act to spur economic development in economically depressed areas. While these zones provide real estate investors with a wonderful opportunity […]
Despite Recent Changes to Federal Tax Law, Bay Area Homeowners Often Benefit From Itemizing Their Deductions
The 2017 federal Tax Cuts and Jobs Act (TCJA) increased the standard deduction for federal taxpayers to the point that most U.S. homeowners benefited more from claiming that deduction than claiming the traditional itemized deductions designed to encourage homeownership. But the Bay Area housing market is anything but typical and its high home prices mean […]
How Should Bay Area Property Owners Shield Parent-Child Real Estate Transfers from Increased Tax Assessments?
In 1986 California amended its constitution to allow parents to pass real estate on to their children without subjecting their children to the spike in property taxes that accompanies changes in ownership in areas where real estate values have increased. This is often a significant issue for Bay Area residents who are seeking to pass […]
How Do You Avoid the Capital Gains Tax on the Profits from a Home Sale?
If you live in the Bay Area and sold your home in the last year there is a good chance you sold it for considerably more than you paid for it. Traditionally, you would need to pay the capital gains tax on those profits. Luckily, the federal government provides a home sale exclusion allowing you […]
How are Capital Gains Recognized and Taxed?
The Federal long-term capital gains tax is a tax imposed on a taxpayer’s profits from the sale of assets that were purchased as an investment or for personal use and have been held for more than one year. A taxpayer only becomes liable for paying the capital gains tax when an asset is sold, therefore […]
