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. […]

Evaluating the risks and rewards of small business crowdfunding

Posted 1 CommentPosted in Accounting, Crowdfunding, Real Estate

I’m now loosely tracking 17 activity different US-based small business crowdfunding portals. This excludes all the portals intended for personal or charitable crowdfunding that would bring the total to 31. The number of investment options continues to grow and the field continues to grow more complicated. The risk to investors remains high and grows in […]

Is this the time to buy at the Jersey shore?

Posted Leave a commentPosted in Financial Planning, Investment, Real Estate

The national housing market is healthy. Median sale price for a previously owned home  reported by the Realtors Association in June 2016 was $239,700, up 4.7% from a year earlier. Overall, it seems like real estate has returned as a healthy asset class to consider for investment. But it is not clear that home prices […]

Sad goodbye to neighbor in the NJ Blue Acres program

Posted Leave a commentPosted in Leadership, News and Politics, Real Estate

The individual stories of my neighbors involved in the Blue Acres buyout program are heartbreaking. I’m not blaming the state for the program. These are voluntary purchases; no one is forced to sell. But facing building code fines and violations after Sandy, many see this as their best option. Yet I don’t see how the state’s […]