Ar_home_b_search
 



bifurcate: I'm in a CRS Class Right Now - May 31-Jun 2 CRS 204 Creating Wealth Through Residential Real Estate - 05/31/07 10:02 PM
I'm in a CRS Class Right Now -  May 31-Jun 2 CRS 204 Creating Wealth Through Residential Real Estate.  There was a corresponding GRI course that I took last year but the two instructors are quite different on their perspectives.
One instructor is very aggressive in using tax savings and one is extremely conservative.  I just thought this would be a great opportunity for fellow rainers to respond with how they handle their tax savings on investment properties: aggressively or conservatively.
For example, the one instructor believes you should bifurcate the cost of an investment property and the other says you should not … (2 comments)

bifurcate: Tom Lundstedt's Investment Property Class Pays Off - 01/30/07 05:03 AM
About a year ago I took a class with Tom Lundstedt in Wichita Kansas.  He teaches weird things like firing your accountant and bifurcation.  Yet, these two tips have become great discussion starters in working with investors in real estate.
There, of course, has to be a valid reason for firing your accountant.  Also, if you do your own bookkeeping, you probably aren't going to fire yourself.  But, checking to see if you or your accountant are making use of tax saving advantages, proper accounting methods, and understanding investment startegies is well worth your time.  There are very few Realtors who take … (2 comments)

bifurcate: The Taxman Cometh - 01/30/07 02:15 AM
www.irs.gov/formspubs is a great website to send to your clients to order tax forms and publications.  Some specific forms that may be useful are:  523 Selling Your Home, 527 Residential Rental Property, 547 Casualties, Disasters, and Thefts, 551 Basis of Assets, 555 Community Property, 587 Business Use of Your Home, and 936 Home Mortgage Interest Deduction.
With Form 551 Basis of Assets, I remind buyers when they purchase a home to bifurcate the cost of the property right in their contract to purchase.  That way, there is a "basis" of record.  Here is a recent cut and paste from the special provisions … (2 comments)

 
Userob Ambassador_large

Lawrence Kansas Real Estate Rob Lang CRS, GRI, ABR, ePro, REALTOR®

Lawrence, KS

More about me…

At Home Kansas / www.AskRobLang.com

Address: Lawrence, KS, 66049

Cell Phone: (785) 393-2274

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog