Year-End Tax Strategies: 1031 Exchanges That Straddle Two Years
California has a progressive state capital gain tax rate that ranges from 1% to 13.3% for the tax year 2021. The rate you will pay depends on your taxable income, filing status, and the…
Understanding Your Tax Liability: Calculating Capital Gains Tax for CA Investment Properties
Calculating capital gains tax on the sale of California investment property involves several steps: Determine your “adjusted basis” in the…
Preserving Your Tax Benefits: How To Dissolve a Partnership in Preparation for a 1031 Exchange
Not seeing eye-to-eye with your partners anymore? Proper planning is needed before a 1031 Exchange would allow you to go your separate ways!…
Preserving Your Tax Benefits: Understanding how Revocable and Irrevocable Trusts impact 1031 Exchanges
The main difference between a revocable trust and an irrevocable trust is the degree of control that the person creating the trust (the…
Prop 13 and 1031 Exchanges: What CA Real Estate Investors need to know
Proposition 13 and 1031 exchanges are two separate tax laws that apply to real estate transactions in California. Proposition 13 is a California law that limits property taxes, while a 1031 exchange…
Depreciation and 1031 Exchanges: What you need to know?
During a 1031 exchange, the accumulated depreciation recapture tax is deferred. In other words, if you were to sell your investment property without doing a 1031 exchange you would have…