Tax Deductions

Tactic To Avoid Cap-Gains Tax On Investment Property

See on Scoop.it – Texas Lots and Land A structure called a DST solves a key problem — financing — with group-owned investment properties, and can make 1031 exchanges easier.   Troy Corman‘s insight: Delaware statutory trusts let’s real estate partnerships avoid capital gains on the sale of real estate. See on news.investors.com

9 Tax Tips for Homeowners.

See on Scoop.it – Texas Lots and Land Don’t rouse the IRS or pay more taxes than necessary — know the score on each home tax deduction and credit.  Sin #1: Deducting the wrong year for property taxes You take a tax deduction for proper… See on t2realestate.com

9 Tax Tips for Homeowners.

Don’t rouse the IRS or pay more taxes than necessary — know the score on each home tax deduction and credit.  Sin #1: Deducting the wrong year for property taxes You take a tax deduction for property taxes in the year you (or the holder of your escrow account) actually paid them. Some taxing authorities work a year behind — that is,…read more →

Fewer Texans take home mortgage tax write off

See on Scoop.it – Texas Lots and Land Fewer Texans deduct mortgage interests expenses from their taxes than the U.S. average, according to a new report from the Pew Charitable Trusts.   Troy Corman‘s insight: Be sure to take advantage of the home mortgage interest deduction while you can (before the Royals in D.C. get their hands on it). See…read more →

Texas Homestead Property Tax Exemptions, Defined.

By Troy Corman, www.t2realestate.com One of the great advantages of home ownership are all of the great tax deductions. This includes the amount you pay for your Texas property taxes. With the highest property taxes in the nation, Texas home owners would be remiss to not take advantage of  the Texas Homestead Tax Exemptions. Let’s find out how to do so…read more →

Remember These Real Estate Tax Deductions for 2012

By Troy Corman, t2realestate.com As we approach the April 15th tax deadline for 2012 federal income taxes, don’t forget to take advantage of these notable real estate tax deductions. 1. Mortgage interest deduction – it’s estimated that almost 50% of those eligible fail to file this deduction on their tax return. The sum of the mortgage interest you pay on…read more →