Zinner & Co. Blog and Newsroom

Ask the Expert: What Does ‘Like-Kind’ Mean in a 1031 Exchange?

Posted by Zinner & Co. Real Estate Team on Nov 12, 2019 5:06:00 AM

What Does ‘Like-Kind’ Mean in a 1031 Exchange?

That’s a great question – as you’re probably aware a 1031 Exchange refers to a provision in the U.S. tax code which allows real estate investors to sell or dispose of a piece of real property and purchase another piece of “like-kind” property without incurring any short-term tax consequences. But what does like-kind mean?

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Topics: real estate, income tax, tax avoidance, personal finance, 1031 Exchange

4 Things to Consider Before Gifting Your House to Your Child

Posted by Zinner & Co. on Oct 23, 2019 5:04:21 AM

One nearly universal element of the American Dream is the desire for your children to have more and do better than you. Many parents consider the legacy they will leave for their children as a part of their financial goal.

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Topics: real estate, gift tax, Estates, Gifts & Trusts

Ask The Expert: Someone told me I could be impacted by depreciation recapture even though I didn’t claim depreciation – is this true?

Posted by Zinner & Co. Tax Team on Oct 3, 2019 6:00:00 AM

 

Ask the Expert: I sold my income property. Someone told me I could be impacted by depreciation recapture even though I didn’t claim depreciation – is this true?The short answer is, yes.

Certain types of assets can be depreciated and are subject to depreciation recapture; among these are investment rental properties.

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Topics: real estate, income tax, depreciation

5 Mistakes to Avoid When Setting Up Your Real Estate Investment Business

Posted by Zinner & Co. on Jun 25, 2019 6:11:00 AM

You’ve decided that it’s time to try your hand at real estate investing. You’ve read about the potential tax savings and you want to give it a try…great! But before you jump in, there are a few important things you should think about to ensure you’re protecting your personal assets and optimizing your tax position.

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Topics: investments, real estate, start ups

The 10 Biggest Mistakes to Avoid in Estate Planning

Posted by Zinner & Co. on May 21, 2019 7:29:00 AM

 

If you’re like most, you want to be able to leave something to your progeny when you die. Leaving a legacy for our children is just part of the American dream of wanting them to “have it better” than we did. But many well-intended parents have had their wishes left unfulfilled because of simple errors in estate planning.

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Topics: real estate, Retirement Planning & IRAs, Estates, Gifts & Trusts, Insurance

IRS Establishes Safe Harbor for Real Estate Rental Businesses

Posted by Zinner & Co. Tax Team on Feb 11, 2019 7:40:17 AM

The IRS recently provided guidance to real estate investors regarding the Qualified Business Income (QBI) deduction under the Tax Cuts and Jobs Act (TCJA.) One of the weaknesses of the QBI provision of the TCJA was a lack of clarity in section 199A, which allows some taxpayers with pass-through businesses (e.g. LLCs and S-Corps,) to deduct 20% of their qualifying income.

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Topics: real estate, Tax Cuts and Jobs Act of 2017, Qualified Business Income

Updated: 7 Important Tax Benefits of Real Estate Investing

Posted by Zinner & Co. Tax Team on Dec 13, 2018 6:05:00 AM

Investing in real estate is a great way to develop wealth and improve your cash flow. In addition to the benefits of receiving monthly rental income, you can also potentially realize some significant tax benefits.

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Topics: investments, real estate, income tax, Tax Cuts and Jobs Act of 2017, 1031 Exchange

IRS Okays home equity deductions

Posted by Zinner & Co. Tax Department on Jun 7, 2018 12:30:00 PM

The Tax Cuts and Jobs Act of 2017 affected the tax deduction for interest paid on home equity debt as of 2018.

Under prior law, you could deduct interest on up to $100,000 of home equity debt, no matter how you used the money. The old rule is scheduled to return in 2026.

The bad news is that you now cannot deduct interest on home equity loans or home equity lines of credit if you use the money for college bills, medical expenses, paying down credit card debt, etc.

The good news is that the IRS has announced “Interest on Home Equity Loans Often Still Deductible Under New Law.”

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Topics: real estate, financing, Taxes - Planning, Rules and Returns, Taxes - Individual, home, Tax Cuts and Jobs Act of 2017

IRS Grants Relief for late Real Estate Professional Election

Posted by Brett W. Neate, CPA, MTax on May 26, 2016 4:26:21 PM

As most individuals who invest in real estate know – or quickly learn when they file their income tax returns – they become subject to a complex set of rules known as the Passive Activity Loss (PAL) rules.

In a nutshell, the rules state the following:

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Topics: real estate, Brett W. Neate

Passive Activity Rules and Their Relationship to Trusts

Posted by Zinner & Co. on Nov 3, 2014 10:00:00 AM
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Topics: real estate, Taxes - Planning, Rules and Returns, Estates, Gifts & Trusts

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