As 2018 fastly approaches the fourth quarter many real estate property owners, commercial real estate investors more specifically start looking at their portfolios closer. There have been many properties bought and sold thus far this year. Speaking more specifically to those thinking of selling or those who have sold commercial real estate, capital gains taxes is not your friend. If there is one thing I know for sure is that the IRS has an appetite for money. Your money. There are ways to sell commercial real estate and NOT pay capital gain taxes. There are at least 3 criteria to meet or come close to meeting. I am NOT referring to a 1031 exchange in this blog post.
They are as follows:
1. Have a significant tax burden.
2. Be in the 30% tax bracket give or take a few.
3. Own commercial real estate property individually or as part of an entity.
The above are the top criteria, but each case will be looked at individually and can be qualified. Please contact me for additional information. Take advantage of the opportunity before December 31, 2018 and get your savings.
Sincerely,
Chalmette Ray| Commercial Associate| Keller Williams Preferred Commercial |D: 281.798.3005
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