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Tag Archives: Investment

Seek Tax Advisor Recommendations Before Selling an Investment Property

Lake Wylie Tax Service | Bookkeeping | Payroll Service Posted on April 15, 2022 by Lake Wylie Tax Services StaffApril 15, 2022

tax issues with home rentalThe real estate market is red hot, and plenty of folks nearing retirement and holding investment property see now as an excellent time to offload their real estate assets and reap the profits. If you’re one of them, then – tempting as it may be – make sure that you talk to your tax advisor before making that move.

Purchasing rental properties has become an extremely popular investment strategy. In fact, experts say that those nearing and past retirement age have accumulated about $6.4 million in net worth tied to those holdings. As attractive as that income is, it can also create responsibilities around rent collection and property management that lose their appeal pretty quickly. It’s no wonder that, between those responsibilities and skyrocketing valuations, many people are looking to get out.

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Posted in Life Events | Tagged Investment

Did You Sell Stocks, Real Estate Or Other Assets This Year?

Lake Wylie Tax Service | Bookkeeping | Payroll Service Posted on January 30, 2019 by Lake Wylie Tax Services StaffJanuary 30, 2019

When preparing your tax return these transactions receive special treatment and may require some extra tax appointment preparation. These include the following covered in this article.

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Posted in Video | Tagged Investment

Several Ways to Defer the Tax on Gains

Lake Wylie Tax Service | Bookkeeping | Payroll Service Posted on January 24, 2019 by Lake Wylie Tax Services StaffJanuary 23, 2020

defer tax on gainsWhen a sale of a business or investment property results in a gain, the seller is typically taxed on that gain during the year of the sale, even when the gain was generated over many years. However, the tax code provides opportunities to spread this gain over several years, to postpone it by deferring the gain into another property, or to simply defer it for a specified period of time. These arrangements can be accomplished by selling the property in an installment sale, by exchanging the property for another, or by investing in a qualified opportunity fund. As with all tax strategies, these options have unique requirements. The following is an overview of what tax law says about these strategies.

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Posted in For Business, Tax Central | Tagged Investment, taxes
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