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2023 Year-End Tax Planning Strategies for the Real Estate and Construction Industry

Cherry Bekaert

Contributor: Chelsea Payne , Senior Manager, Tax Services As the end of the year approaches, strategic planning remains crucial for taxpayers looking to optimize their financial positions and set the stage for a strong start in the upcoming fiscal year.

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Tax Strategies for Real Estate Investing: Maximizing Income from Rental Properties

CTP

Once that rental property begins generating income, what else does a taxpayer need to consider for effective tax planning? First, real estate rentals classify as either long-term or short-term rentals. Also, on long-term rental properties, passive activity loss rules apply.

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The Ins and Outs of Real Estate Income: Tax Planning for Short-Term Rentals

CTP

Using real estate as a source of income is only becoming more popular with the advent of sites like Airbnb and VRBO that enable homeowners to earn extra cash from property they already own. Taxpayers who are new to leveraging real estate for income may be unfamiliar with the tax loopholes available to them.

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Navigating the 121 Exclusion: Tax Planning for Real Estate Income

CTP

Tax professionals today need to be prepared to incorporate real estate income into their clients’ tax plans. More and more Americans are starting to use their properties as a primary or secondary income source, yet many taxpayers are not prepared for the tax consequences when they decide to sell that property.

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Tax Deferral Strategies for Real Estate: Using the 1031 Exchange in Partnerships

CTP

Partnerships may be formed as a real estate investment partnership where each partner contributes different properties. By working with a Certified Tax Planner, partners can form a tax plan that allows for as much flexibility as possible to accommodate these types of changes.

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Tax Treatment of Common Real Estate Exit Strategies

Withum

Every real estate investor’s goal is to earn income from the cash flow and the appreciation of their investment. Sale of Property The least tax efficient option in selling a property may be to pay taxes on the gain resulting from the sale.

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The Tax Break Commercial Real Estate Investors Might Need After COVID-19

Withum

The COVID-19 pandemic has had a dramatic impact on commercial real estate values, and in some cases resulted in property no longer being able to support the debt with which it is encumbered. How coronavirus hit commercial real estate – GREEN STREET ADVISORS. Business Tax Services. not insolvent). Contact Us.