tax: Investor Report: Tax Extender Act: 50 tax program extensions beyond their December 31st scheduled expiration date. - 12/19/09 10:48 PM
Investor Report: Tax Extender Act
by Kenneth R. Harney
Real estate investors are facing a squeeze play on Capitol Hill, with important tax incentives nearing an end-of-the-year deadline.
Last week the House approved what's known as the Tax Extender Act, a Christmas tree bill filled with nearly 50 tax program extensions beyond their December 31st scheduled expiration date.
Two of the extenders are especially significant for investment real estate: First is the so-called "leasehold improvements" provision, which allows owners of commercial, retail, hotel and office buildings -- large and small -- to use an accelerated 15-year depreciation schedule in writing … (2 comments)
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tax: Where The Term Real Estate Came From. - 05/27/09 07:57 AM
Where The Term Real Estate Came From.
A Brief History And Origins of Real Estate.
Definition: Real Estate A piece of land, including the air above it and the ground below it, any buildings or structures on it also called realty, and improvements there to, also called real property.
In law, the word real means relating to a thing (res/rei, thing, from O.Fr. reel, from L.L. realis "actual," from Latin. res, "matter, thing"), as distinguished from a person. Thus the law broadly distinguishes between "real" property (land and anything affixed to it) and "personal" property (everything … (0 comments)
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tax: Housing Bill To Provide Mortgage Relief... - 07/30/08 12:55 PM
Bush signs housing bill to provide mortgage relief
By JENNIFER LOVEN, Associated Press Writer
WASHINGTON - President Bush on Wednesday signed a massive housing bill intended to provide mortgage relief for 400,000 struggling homeowners and stabilize financial markets.ipt"
Bush signed the bill without any fanfare or signing ceremony, affixing his signature to the measure he once threatened to veto, in the Oval Office in the early morning hours. He was surrounded by top administration officials, including Treasury Secretary Henry Paulson and Housing Secretary Steve Preston.
"We look forward to put in place new authorities to improve … (0 comments)
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tax: Investor Report: Section 1031 - 06/08/08 02:18 PM
Investor Report: Section 1031
by Kenneth R. Harney
Here's some great news for the thousands of real estate investors and brokers who use "Section 1031" (ten thirty-one) tax-deferred real exchanges every year: Congress has backed off its latest plan to narrow the definition of "like kind" for real estate swaps.
That's important because under current tax law, real estate investors have broad flexibility in choosing properties and structuring exchanges. For example, they can exchange a rental house for farmland, an apartment building for a commercial shopping strip. They can even exchange office buildings for mineral rights.
San Antonio … (2 comments)
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tax: Mortgage Insurance Tax Deduction Extended - 01/15/08 02:08 AM
Mortgage Insurance Tax Deduction Extended
by Broderick Perkins
The same new federal law that offers relief from mortgage debt forgiveness taxes, also extends tax benefits for many more homeowners who pay mortgage insurance.
Effective January 1, 2008, according to the "Mortgage Forgiveness Debt Relief Act of 2007," for those eligible, no taxes will be owed on any mortgage debt forgiven or written off as part of a short sale, foreclosure, renegotiation, bankruptcy or other such action on a principal residence.
Before the law was passed, such forgiven debt was typically taxed as income.
The relief act came on the heels of … (0 comments)
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