by William Horan | Jul 29, 2014 | 1031 Strategies, 8824, Reporting, Tax Impact
Section 1031 exchanges are not included in net investment income ( NII ). The proposed IRS regulations to implement IRC Section 1411 were circulated for comment in December 2012. It was clearly stated in the prologue to the proposed regulations that deferred gain from...
by admin | Nov 9, 2013 | Tax Impact
IRC Section 1.1411 regulations spell out what is to be included in Net Investment Income that may be subject to the 3.8% Medicare Tax for years 2013 and beyond. If you sell a property – SURPRISE – the gain may push you above your status threshold. The gain from...
by admin | Oct 7, 2013 | 1031 Strategies, Tax Impact
Potential sellers of residential rental properties need to be very aware that the capital gain from such a sale may surprisingly put them in a higher tax bracket and have part of their capital gain taxed at 20%. There has been little written on the application of the...
by William Horan | Sep 13, 2013 | Reporting, Tax Impact
While there was much discussion in the media over tax rates for 2013, the Alternate Minimum Tax (AMT) exemption for 2012 was still to be resolved. Fortunately the last minute ‘fiscal cliff bill’ tackled the AMT exemption, making it permanent and tied to inflation....
by William Horan | Oct 13, 2012 | Tax Impact
1031 Exchange Strategy An individual can do a 1031 exchange and reduce the 3.8% Medicare tax. A lot has been written on the impact of the 3.8% surtax on the “unearned income” of high income taxpayers. It is neither a real estate sales nor a transfer tax. If you sell...
by William Horan | Jun 10, 2012 | Tax Impact
For a number of years efforts have been made to get real property owners exempt from the registration requirement of the Nationwide Mortgage Licensing System and Registry. The new Virginia law HB572 does the job. It exempts “persons who make loans or extend credit for...
