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Capital
Gain vs. Ordinary Income |
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Determining the character of property is critical as the differential
between the capital gains rate and the ordinary income tax from non-corporate
taxpayers is 20 percentage points. |
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Exchanging with Related Parties |
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A taxpayer may sell relinquished property to a related party. However,
there is a 2 year holding requirement imposed by IRS Section 1031(f). |
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FIRPTA Regulations Now Require Tax ID Numbers |
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It's a numbers game! There's just no way around it. According to the
new IRS regulations, foreign persons must provide a social security, tax,
or employer identification number in transactions involving the disposition
of a United States real property interest (Property). |
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The Marital Residence: Who Benefits from the Sale and Deductions? |
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A family residence is involved in almost every divorce, regardless of
whether the parties have accumulated a substantial estate or a modest one.
Tax considerations regarding the residence center principally on (1) sale
of the home and (2) deduction of mortgage interest and real estate taxes. |
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New law alters relationships among brokers, buyers and sellers |
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On July 1, a new law went into effect creating new relationships between
real estate brokers and salespersons and purchases and sellers of residential
real estate. |
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Reverse Exchanges |
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In a standard tax deferred exchange, IRC Section 1031 provides rules
(i.e. "safe harbors") for taxpayers who first sell an investment
property (i.e. "the Relinquished Property") and then - concurrently
or within 180 days thereafter - acquire Replacement Property. |
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Bankruptcy and The Homestead Act |
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The bill was originally introduced in 1997 by Senator Charles E. Grassley
(R-Iowa) as a measure to make Chapter 7 bankruptcies “needs based.” |
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Zoning Impediments |
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Disputes often arise between parties to a real estate purchase contract
when the purchaser belatedly discovers some type of defect within the property. |
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Misrepresentation of Location |
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A New Jersey court held that a real estate agent could be liable (under
the state's Consumer Fraud Act) if he/she misrepresents the location of
a home to a prospective buyer. |
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Rental Unit Delivery Standards Checklist |
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On August 23, 2006 an ordinance was passed establishing safety and sanitary
standards for the delivery of rental units. The following is a list of
the criteria that rental units must meet upon delivery to new occupants.
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Will the Sub-Prime Mortgages Effect Boston’s Market? |
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What I have experienced in the last three months is that sellers and buyers are coming back with a renewed sense of confidence in the market and are ready to transact! |
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