Browsing All posts tagged under »real estate«

Sell Commercial Property And Keep Government Out of Your Pocket!

August 21, 2011


So when you sell, why should government get a piece of your building when they didn't share your risk, your hard work and your aggravation? Good news: Congress has provided some help for commercial property owners. Using a popular provision in the tax code, many real estate investors have been able to keep the cold hand of government out of their pockets, at least temporarily.

Selling Your House Doesn’t Have To Be Taxing!

August 11, 2011


Internal Revenue Code (IRC) Section 121 permits a married couple to exclude up to $500,000 of capital gain from the sale and a single person to exclude up to $250,000 of capital gain, provided the house being sold was their principal residence for two of five years preceding the sale.

Selling Real Estate Can Be Taxing!

June 16, 2011


When you sell a piece of real estate, Uncle Sam will be checking to see if he is entitled to a piece of the pie. So too will state government, and possibly city government as well! And you may owes taxes even if your property is underwater and is being foreclosed upon or being sold in a short-sale.