Many, if not most, of my subscribers initially come to my site because they are interested in learning more about tax sales in general. I’m going to give you the information you’re looking for right here. I’ll tell you how bargain purchases are made at tax sales, and why I don’t think most people should try to buy at tax sales.When a property owner does not pay his taxes for a certain period of time, the city, county, or state will take action to collect those back taxes. The procedure …

Tax Reduction (Casualties Can Generate Substantial Tax Reduction)Tax reduction are the results from tax deductions. Tax deductions reduce taxable income but do not directly reduce federal income taxes. For example, $100,000 of tax deductions reduces federal income taxes by $35,000 ($100,000 X 35%), assuming a 35% tax rate. Most tax reduction require a cash expenditure (labor, material, supplies, utilities, etc). A current period cash expenditure is not required for some real estate tax deductions and may not be required for a casualty loss.A casualty loss may occur as a result …

Tax Deductions (Business Tax Deduction Tips)Tax tips and tax help to assist taxpayers by describing optionsfor tax reduction and tax cuts through lawful tax deductions. Tax deductions contribute to national prosperity by providing capital to business. Tax deductions reduce taxable income. A $100,000 tax deduction reduces federal income tax by $35,000 ($100,000 X 35%) assuming a 35% income rate. Options for increasing business tax deductions include revising depreciation schedules, reviewing fixed asset listings, casualty losses, bad debts, and charitable contributions.Real estate depreciation offers substantial opportunity for increasing tax deductions. Most …

Tax Deferral 1031 Exchanges and Cost SegregationTax deferral through 1031 exchanges, or tax-free exchanges of real estate, have become a popular method of tax deferral of capital gains taxes. Almost by definition, individuals who utilize the 1031 exchange option are reluctant to pay taxes that can legally be avoided. 1031 exchangers have asked if they can receive tax deferrals and enhance depreciation. The short answer is yes.A complete answer needs to consider the remaining cost basis for the property that has been exchanged. If the remaining cost basis is minimal then …

France is known for its complex tax and administration systems. But it is not as complicated as it seems. If you own a property in France or intend to buy one, don’t give up because of these administrative steps. All you need is some clues to help you understand how it works.The first tax I will explain here is the “taxe d’habitation” (understand: French Residence Tax). It is imposed every year on the occupier of a property, in which he/she lived on the 1st January. This means that if you …

Many homeowners do not understand much about real estate taxes and for this reason can end up in the position of losing their homes. Real estate taxes or property tax is normally calculated on the land value, the location, the county laws, and other factors. Real estate taxes are utilized for the upkeep of roads and other public services like emergency services and other municipal services enjoyed by the local residents. Real estate taxes are also in one way limited to the United States alone but for almost every country …

Tax Reduction and Cost Segregation – Myths and FactsTax tips and tax help to assist taxpayers by describing optionsfor tax reduction and tax cuts through lawful tax deductions. Tax reduction and tax deferral are both generated by cost segregation. However, this tool is not well understood by most real estate investors and by many tax preparers. The root cause of limited understanding regarding cost segregation and how it provides tax reduction is limited dissemination of factual data on the subject.The most prevalent myths include:Cost segregation does not provide tax reduction, …

Tax reduction and tax deferral are the primary benefits of obtaining a cost segregation study. Income taxes are a substantial burden for most real estate investors. Tax deductions help with this burden. While some level of taxation is necessary, it is both inappropriate and imprudent to pay more than your fair share.Income tax is based on net profit or taxable income. The basic formula for calculating taxable income is revenue less expenses (tax deductions). Expenses can include both direct payments to third parties (labor, rent, supplies, etc.) and non-cash deduction. …

Florida’s real estate tax laws can be tricky to understand. There are several factors which affect the size of your property tax bill, so if you’re buying property in Florida or are relocating, it’s important to understand how taxes are calculated.Property values are in constant flux just as the real estate market is, so getting an accurate, current assessment is important. The assessed value of the property you buy may change dramatically when it changes hands, so it’s good to be aware of the factors that might influence how much …

April 19, 2009http://www.propertytaxfunding.com/Property Tax PaymentTaxing units usually mail their tax bills in October. The date of delinquency is normally February 1st.  If you have not received your tax bill by January 1st, you should contact your tax assessor to determine the amount owed. Property tax bills often include more than one taxing jurisdiction because some taxing jurisdictions combine their collection operations.  Likewise, certain properties will be subject to multiple taxing jurisdictions collected by different assessors.  Contact the central appraisal district for your respective county to determine the taxing jurisdictions which apply …