How to Avoid Taxes From a Real Estate Sale
Real estate taxes can come with a very high price tag. Capital gains tax has tripled over the past 100 years, and is a lucrative revenue stream for the US government. When you are selling your home, and making any substantial profit, it's good to know how to avoid taxes from the sale of your real estate. Here are some good ways to keep your profit high and your taxes low.
Instructions
- 1
Gift the profit to your children. The IRS allows gifts to family members as a non-taxable amount. If the sale of your home is below the IRS taxable limit, you can avoid taxes by gifting the profit into an account for one of your children or disburse the amount among several children to meet the limitations.
2Assume real estate losses in the same year that you gain. If selling your primary residence for a profit, move in to a bigger more expensive property or purchase investment property at the same time. Doing so will show a loss on your real estate transactions, helping you to avoid real estate taxes.
3Use the property as your primary residence for 24 months prior to the date of sale. Doing this on investment properties can reduce your capital gains tax on real estate transactions very substantially when owning investment properties. Live in the property for 2 years prior to the date of sale, and see your capital gains tax dwindle to next to nothing.
4Put your real estate holdings in a trust. A real estate attorney can place all of your real estate and collateral as part of a non-taxable trust that can be conveyed to your heirs upon death. This allows you to make a profit on real estate, buy and sell real estate and do so with little to no tax consequences.
5Participate in a property exchange. Individuals trading properties via deed of trust or deed of sale transactions can avoid real estate taxes completely. Both properties have to be clear of any liens or notes to complete this successfully, however, it is a great way to accumulate parcels of real estate with no tax consequence.
Short sale (real estate) - Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Short_sale_(real_estate)A short sale is a sale of real estate in which the proceeds from selling the property will fall short of the balance of debts secured by liens against the property ...
Oregon and Washington Real Estate - Homes for Sale in OR &
realestate.oregonlive.comOregon Real Estate. Search for new homes, home rentals, foreclosure and homes for sale in OR. Search for Oregon Real Estate with ease at OregonLive.com. Visit us at ...
Aventura Real Estate - South Florida Condos for Sale ...
condo-southflorida.comA new resource to search for Preconstruction Condos in South Florida, Aventura Condos, Hollywood and Hallandale Preconstruction, as well as Immobilier Floride, Bienes ...
Real Estate Listings & Homes for Sale Real Estate Agent
www.coldwellbanker.comFind a Home Properties Home Listing Reports Real Estate AgentsColdwell Banker Real Estate, Welcome Home. Here's to all the things that make a house a home. Find Homes, Rentals, Agents, Offices. Learn, Video, Join Us and Favorites.
Personal Finance - How To Information eHow
www.ehow.com/personal-financeGet expert advice for all your financial questions, from spending , saving and investing smartly; to tackling taxes; to buying a home; to getting the right insurance.
Home Buying, Home Selling, Mortgages, Real Estate Investing
www.marketwatch.com/real-estateMarketWatch's guide to home buying, home selling, mortgages, home building, real estate investing, remodeling, hot home trends
YOUR FRIENDS' ACTIVITY - Yahoo! Finance - Business Finance,
finance.yahoo.com/personal-financeAug 28, 2013 Read latest personal finance articles about loans, saving & spending, lifestyle, insurance, taxes, career & education, retirement, and real estate. Try our ...
Business - How To Information eHow
www.ehow.com/businessCreate, build and grow a thriving business with our expert advice, which helps you master everything from accounting to management to finance to sales and marketing.
1099-C In the Mail? How to Avoid Taxes on Cancelled Debt
blog.credit.com/2011/03/1099-c-in-the-mail-how-to-avoid-taxes-on...If it's been a rough couple of years for you, you're not alone. Maybe your income was cut, you lost your job, or you had large expenses like medical bills.
Real Estate, Homes for Sale, MLS Listings, Agents Redfin
www.redfin.comSearch Los Angeles Seattle Southern CaliforniaSearch all MLS real estate listings. Tour homes and make offers with the help of local Redfin real estate agents.
0 komentar
Posting Komentar