New Rules Impacting Investors Converting Rentals to Residences - 09/13/08 08:53 PM
I know most of you have been following the big race that's shaping up to make November an interesting month - presidential elections do that.  While we've had our eyes turned to that, our lawmakers passed a very important law to assist many homeowners in the foreclosure crisis.  One part of that law that was not widely publicized could affect many exchange clients who might be thinking of making that rental they acquired in their exchange into their principal residence.
Please click on the link below to read more...
http://www.apiexchange.com/articles/pdf/Reduced%20121%20Gain%20Exclusion%20Post%201-1-09%20%20(118).pdf
 
 
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Housing Assistance Act of 2008 May Affect Persons Wanting to 1031 - 09/10/08 05:43 PM
How does this change affect §1031 tax deferred exchange planning? Suppose a single taxpayer
exchanges into a rental property which is rented for four (4) years, and then moves
into this former property and lives in it for two (2) years as a principal residence. The taxpayer
then sells the principal residence and realizes $300,000 of gain. Under prior tax law,
the taxpayer would be eligible for the full $250,000 exclusion and would pay tax on the
$50,000 remainder. Under the new law, the exclusion would have to be prorated as follows...
Please click on the link below for more reading...
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LOSE PROPERTY IN FORECLOSURE AND OWE CAPITAL GAIN TAXES - 09/10/08 05:39 PM
Given the challenging conditions in the real estate market, some taxpayers may
be faced with the prospect of foreclosure or a short sale arrangement with their
lender. Taxpayers in this situation have a multitude of concerns ranging from a
deteriorating credit rating to loss of their equity. Unfortunately, the taxpayer
may have a significant tax liability that arises out of foreclosure or short sale. Please click on the link
below to read more...
 
http://www.apiexchange.com/articles/pdf/Forclosures%20(114).pdf
 
 
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What Real Estate Investors are Doing in 2008 to Maximize Investment Returns - 09/10/08 05:36 PM
The billionaire ‘Oracle of Omaha,' Warren Buffet has stated, "be fearful when others are greedy
and be greedy when others are fearful." It is no secret that residential home prices nationally have
declined significantly in many areas and have dropped considerably in states like California, Florida,
Arizona and Nevada. The price drops have left some real estate investors fearful about where
prices are heading. . .a perfect time to be purchasing real estate and taking advantage of market
conditions that favor savvy investors who purchase for long-term investment! To continue the article
please click on the link below.
 
http://www.apiexchange.com/articles/pdf/2008%20Real%20Estate%20Prices%20(115).pdf
 
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Greg Schowe-1031 Exchanges

O Fallon, MO

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Asset Preservation, Inc.

Office Phone: (800) 282-1031

Cell Phone: (314) 369-8766

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