The 1031 exchange is a great instrument for property owners who wish to defer their capital gains tax. However, not all states treat 1031 exchanges equally. California regulations stipulate that any appreciation in property value accrued in California is subject to their state taxes, regardless of whether or not that property was exchanged for … Read more
Co-authored by Jordan L. Eftekari, Esq. (1) Introduction On November 2, 2007, the Wall Street Journal published an article: “Got 0,000? The U.S. Awaits (Government’s EB-5 Program Offers Foreign Investors Green Cards for Job Creation)”. A Federal program known as EB-5 (Immigrant-Investor Visa), administered by the U.S. Citizenship & Immigration Services (“USCIS”), encourages foreign investors … Read more
Expect some changes when you file your 2007 tax return! Here are a few highlights from the Small Business and Work Opportunity Act of 2007. Do you own real estate? At the very end of 2007, Congress passed a bill with several tax law changes impacting real estate. Qualified Joint Ventures by Married … Read more
Taxes… Say that word and many people will start to groan when they hear it …and with good reason. To begin with, paying annual taxes is usually a financial burden for most people. Each time you review your paycheck, you might feel cheated or abused, considering the federal income tax withholding amounts (let’s not even … Read more
For most of us, our home represents our largest asset. Over time, the management of this asset can make a big difference in our overall financial outlook. One of the largest planning opportunities home ownership brings is the favorable tax treatment afforded the sale of a primary residence. The gain on the sale of a … Read more