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Real Estate Tax Secrets of the Rich : Real Estate - Sandy Botkin

Real Estate Tax Secrets of the Rich

Real Estate

Paperback Published: 3rd November 2006
ISBN: 9780071472357
Number Of Pages: 224

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IRS insider Sandy Botkin reveals the tax strategies you can use to increase your ROIs by as much as 20 percent-whether you're a home owner or a real estate investor. This accessible guide demystifies real estate taxes and shows how to achieve maximum benefit when buying, owning, selling, managing, repairing, and investing in properties. Features numerous forms, charts, sample documents, and other valuable tax-saving tools Gives you the basics on real estate taxes and shows how to take full advantage of tax loopholes

Dedications and Acknowledgmentsp. vii
Introductionp. ix
Overview of Real Estatep. 1
Why You Should Own Your Homep. 3
Buy a Home or Die in Povertyp. 11
Tax Goodies from Owning a Homep. 17
Tax Basis-The Starting Place for All Deductionsp. 19
IRS Record-Keeping Requirements to Bulletproof Your Basisp. 25
Why Making Improvements to Your Home Is Much More Valuable than Making Repairsp. 31
Maximizing the New Mortgage Interest Rulesp. 37
The Point of Pointsp. 45
Maximizing Your Deductions when Building a Homep. 51
Maximizing the Effect of Real Estate Taxesp. 55
Maximizing Tax Benefits when You Dispose of Your Homep. 59
Excluding Gain when You Sell Your Home-An Overview of the New Universai Exclusionp. 61
Exceptions to the Two-Year Rulep. 67
Divorce and Death Implicationsp. 71
Using an S Corporation to Avoid the Two-Year Rulep. 77
Introduction to Tax Planning for Buying and Looking for Rental Propertyp. 83
Introduction to Investment Propertyp. 85
Understanding Depreciationp. 89
How to Evaluate Rates of Return for Residential Investment Propertyp. 95
How to Deduct the Cost of Looking for Propertyp. 101
Tax Goodies Incurred while Owning Rental Propertyp. 107
Minimizing Passive Loss Problemsp. 109
Maximizing Your Depreciation Deductionsp. 121
Making Land Deductiblep. 127
Splitting Income by Hiring Family Membersp. 135
Why Repairs on Investment Property Are Importantp. 141
Minimizing Taxes when Disposing of Real Estatep. 151
How to Calculate Gain or Lossp. 153
When to Use Seller Financingp. 155
How to Avoid All Gain on the Sale of Investment Property Using Like-Kind Exchangesp. 171
Sales to Relativesp. 181
Miscellaneous Real Estate Tax Considerationsp. 185
Understanding Vacation Home and Second Home Rulesp. 187
Tax Benefits of Owning Motels, Hotels, and Bed-and-Breakfastsp. 195
Frequently Asked Questionsp. 201
Recommended Tax Resourcesp. 209
Leveraging Today's Technologyp. 213
Formsp. 219
Indexp. 222
Table of Contents provided by Ingram. All Rights Reserved.

ISBN: 9780071472357
ISBN-10: 0071472355
Series: Real Estate
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 224
Published: 3rd November 2006
Publisher: McGraw-Hill Education - Europe
Country of Publication: US
Dimensions (cm): 23.7 x 18.9  x 1.8
Weight (kg): 0.44
Edition Number: 1

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