Real Estate Taxation

Section 1031 Like-Kind Exchanges – Significant tax savings can be achieved through the use of property exchanges. We can help you structure your exchange to ensure it complies with the law as well as answer your questions on what types of property qualify, whether the property can be converted to personal use and how to calculate depreciation on the new property.

Rental Real Estate - We have many years of experience dealing with the practical aspects of rental property and we can guide you through the benefits and pitfalls, including the passive activity loss limitations. We can also assist with the acquisition, sale and exchange of property. Using our affiliation with lawyers, we can advise you on landlord/tenant matters, drafting leases and other legal matters related to real estate.  We can also advise you on whether you should form a corporation or limited liability company to hold title to the property.

Sale of Your Principal Residence – It is possible for a husband and wife to escape tax on up to $500,000 of gain on the sale of a principal residence.  Strict compliance with the law is required to take advantage of this benefit. We can answer your questions such as: Do both spouses have to be on title? What if the property was used as rental?  Can the property be rented while it is listed for sale? Does a home office qualify? Do vacation homes qualify?

Development and Construction – Do you need to form a corporation or a limited liability company to carry out your goals and protect your assets? Our affiliation with lawyers allows us to fully advise you in these matters. We can also assist with construction contracts and joint venture agreements.