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    Real Estate Tax Secrets of the Rich: Big-Time Tax Advantages of Buying, Selling, and Owning Real Estate

    Real Estate Tax Secrets of the Rich by Botkin, Sandy;

    Big-Time Tax Advantages of Buying, Selling, and Owning Real Estate

    Series: REAL ESTATE;

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    Product details:

    • Publisher McGraw Hill
    • Date of Publication 16 November 2006

    • ISBN 9780071472357
    • Binding Paperback
    • No. of pages240 pages
    • Size 228x182x15 mm
    • Weight 424 g
    • Language English
    • 0

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    Short description:

    When it comes to building wealth through real estate,the rich have one important secret:

    SLASH YOUR TAXES

    It's simple: Less tax means more money in your pocket, and more return on your investments. Real Estate Tax Secrets of the Rich, written by a longtime tax expert and IRS consultant, shows you how to use your home and investment properties as money-saving and income-generating tax shelters.

    Organized in easy to understand, bite size chapters that clearly explain the strategies, this book also includes includes charts and flow charts for ease of understanding. Each tip in this book includes a notation from the IRS tax code, showing exactly why it works - and how it's totally, 100 percent legal.

    • Pocket thousands of extra dollars when buying and selling your primary home or investment property
    • Use new mortgage and tax rules to your advantage
    • Make targeted repairs and improvements on your home designed to boost tax deductions
    • Protect and reduce your home's “tax basis” to maximize profit
    • Make yourself bullet proof from any IRS audit

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    Long description:

    IRS insider Sandy Botkin reveals the tax strategies you can use to increase your ROIs by as much as 20 percent-whether you're a home owner or a real estate investor. This accessible guide demystifies real estate taxes and shows how to achieve maximum benefit when buying, owning, selling, managing, repairing, and investing in properties.

    • Features numerous forms, charts, sample documents, and other valuable tax-saving tools
    • Gives you the basics on real estate taxes and shows how to take full advantage of tax loopholes


    IRS insider Sandy Botkin reveals the tax strategies you can use to increase your ROIs by as much as 20 percent-whether you're a home owner or a real estate investor. This accessible guide demystifies real estate taxes and shows how to achieve maximum benefit when buying, owning, selling, managing, repairing, and investing in properties.

    • Features numerous forms, charts, sample documents, and other valuable tax-saving tools
    • Gives you the basics on real estate taxes and shows how to take full advantage of tax loopholes

    More

    Table of Contents:

    Part I - Overview of Real Estate

    Chapter I: Why Everyone in America Should Own Their Home

    Chapter II:

    Buy a Home or Die in Poverty

    Part II - Tax Goodies from Owning a Home

    Chapter III:

    Tax Basis - the Starting Place for All Deductions

    Chapter IV:

    IRS Record-Keeping Requirements to Bullet-Proof Your Basis

    Chapter V:

    Why Making Improvements to Your Home is Much More Valuable than Making Repairs

    Chapter VI:

    Maximizing the New Mortgage Interest Rules

    Chapter VII:

    The Point of Points

    Chapter VIII:

    Maximizing Your Deductions when Building a Home

    Chapter IX:

    Maximizing the Effect of Real Estate Taxes

    Part III - Maximizing Tax Benefits when You Dispose of Your Home

    Chapter X:

    Excluding Gain when You Sell Your Home - an Overview to the New Universal Exclusion

    Chapter XI:

    Exceptions to the Two-Year Rule

    Chapter XII:

    Divorce and Death Implications

    Chapter XIII:

    Using an S Corporation to Avoid the Two-Year Rule

    Part IV - Introduction to Tax Planning for Buying andLooking for Rental Property

    Chapter XIV:

    Introduction to Investment Property

    Chapter XV:

    Understanding Depreciation

    Chapter XVI:

    How to Evaluate Rates of Return for Residential Investment Property

    Chapter XVII:

    How to Deduct the Cost of Looking for Property

    Part V - Tax Goodies Incurred while Owning Rental Property

    Chapter XVIII:

    Minimizing Passive Loss Problems

    Chapter XIX:

    Maximizing Your Depreciation Deductions

    Chapter XX:

    Making Land Deductible

    Chapter XXI:

    Income Splitting by Hiring Family Members

    Chapter XXII:

    Why Repairs on Investment Property are Important

    Part VI - Minimizing Taxes when Disposing of Real Estate

    Chapter XXIII:

    How to Calculate Gain or Loss

    Chapter XXIV:

    When to Use Seller Financing

    Chapter XXV:

    How to Avoid All Gain on the Sale of Investment Property Using Like-Kind Exchanges

    Chapter XXVI:

    Sales to Relatives

    Part VII - Miscellaneous Real Estate Tax Considerations

    Chapter XXVII:

    Understanding Vacation Home and Second Home Rules

    Chapter XXVIII:

    Understanding the Benefits of “Mom and Dad” Motels, Owning Bed and Breakfasts, and Converting Rental Property to a Hotel Classification

    Chapter XXIX:

    Frequently Asked Questions

    Appendix

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