The basics of Medicaid planning

Posted Leave a commentPosted in estate plannng, Ethics, Financial Planning, Health and wellness, Health Insurance, Legal, Real Estate, Wealth Management

This blog post simply lists key issues in bullet format and is not intended as a complete discussion of any issue. A more thorough consideration is helpful for any aspect that may pertain to your family’s situation. Definition: “Medicaid planning” refers to the specialized field of financial planning that recognizes that it is possible to simultaneously keep financial assets […]

The Latest on Sandy Recovery: Almost 4 1/2 Years Later

Posted Leave a commentPosted in Insurance, Real Estate

  Superstorm Sandy hit us in October 2012 – almost 4 1/2 years ago. My world has never been the same. On the day before the storm I was a ‘normal’ small business person with decent cash flow, bills paid, a little money in the bank, adequate business capital, and good credit. All of that changed […]

How to handle the Trump mortgage insurance fiasco

Posted 2 CommentsPosted in Insurance, Real Estate

If you are a first time homeowner with a variable rate mortgage then there’s a good chance that your payment will increase by the maximum amount this year because of rising interest rates. To help offset the burden on these already strapped homeowners, the FHA planned to reduce the mortgage insurance rate by 1/4 of […]

Beware house flipping sellers

Posted Leave a commentPosted in Accounting, Real Estate, Taxes

I read an accountant’s story of a client who purchased a $40,000 “house flipper plan” through a seminar buy hasn’t flipped a house yet. I’m guessing that 2017 isn’t looking too good for that strategy.  The business has no income, only losses. Now it it time to file the first tax return and the client […]

2017 real estate shakeup

Posted 2 CommentsPosted in News and Politics, Real Estate, Tax Planning

Real estate ownership has long been one of the three primary wealth builders and tax reducing tools for businesses and individuals. I covered this topic in my blog yesterday. That may change radically in 2017 under tax reform proposals pushed by the new Republican leadership. The Congressional leadership in both houses and our new president […]

Real estate flippers beware

Posted Leave a commentPosted in Real Estate, Tax Planning, Taxes

IRS warns real estate investors to beware of tax schemes targeting real estate investors. The schemes tend to be offered by financial firms that are not professional tax advisers but promise favorable tax savings through the improper use of like-kind exchanges.  Sales pitches may encourage taxpayers to exchange non-qualifying vacation or second homes.  Many promoters of like-kind […]

Selling a rental property?

Posted Leave a commentPosted in Accounting, Real Estate, Tax Planning, Taxes

If you are planning to sell a rental property then it is likely important to estimate the taxes that will be due on the transaction. The calculation can be complicated but fortunately we have software available to help with the number-crunching. Just give a call and we can schedule time to run through the possible scenarios. […]