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Foreclosure Tax Law 2013: Residential California Home Owner Liability

Consumer Protection Laws & Borrower Tax Liabilities In last week’s post – “California Foreclosure Real Estate Law: Is There a Right Time to Walk Away?” – we examined the circumstances in which a defaulting borrower may be sued by a lender for a deficiency judgment in a residential foreclosure. Another pressing financial issue facing borrowers […]

2013 California Real Estate Tax Law: Homeowners Exclusion Specifics

Buying vs. Renting in Golden State You’ve been a renter your entire life. It’s not that you haven’t had the means. It’s simply been cheaper to rent than buy in the Bay Area. The tides have changed. Recent statistics show that home ownership is now more affordable than renting in all but 2 of 100 […]

California 2013 Tax Law: Homeowner Exclusion & 1031 Exchange Interplay

Strike While the Iron’s Hot The local real estate market is rising. With limited inventory and a huge influx of buyers and investors, many with all cash offers, it’s now a “seller’s market” in the Bay Area. Cha-Ching! The turn-around has sparked your desire to retire. Your Santa Clara home is worth a million more than when you […]

Income Tax Law: Reporting Sale of Inherited Real Property

Follow the Rules or Else… Income tax law strikes fear in the hearts of Americans. The reason is simple. Income tax law is confusing. And the consequences of misinterpreting income tax law  (whether intentional or not) can be dramatic, ranging from lost fortunes in tax penalties to prison sentences for tax evasion. No one’s immune from […]

Tax Law: Taxable & Not Taxable Income

Avoiding the Season of Fear Nothing strikes fear into the heart of americans like tax law. The reason is clear. Tax law is confusing. And the implications of misunderstanding or misapplying it can be severe. You’re not alone if you don’t understand tax law, especially as it relates to income. Einstein himself said the hardest […]

Using IRC 1031 Tax Law to Exchange Investment Property Tax Free

Avoiding Income Taxation through Tax Law IRC 1031 Current tax law provides that individuals selling investment or business real estate at a profit are subject to income taxation. The tax rates on profits under the tax law code are: 15% Federal capital gain 25% Depreciation recapture 9.6% California capital gain (other states vary) We have saved […]

Piqued at Property Tax Law Increases: Prop 8 & Prop 13 Tax Law Rules and Interplay

Let’s face it – tax law causes Californian home owners to tremble in fear. And, who can blame them? Tax law is confusing, especially as it relates to real estate tax. Our tax law practice has shown that failing to plan for how California real property tax law can lead to financial turmoil for home owners. Prop 13 Tax […]

Tax Law & Things To Know About Capital Gains & Losses

Tax Law can be a source of great amount of stress and frustration.  The legal and financial issues surrounding tax law can be confusing and expensive. One of the most fundamental concepts of tax law surrounds capital gains and losses, the importance of which could make or break you financially. Basic Tax Law Guidelines & Capital Gains […]