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Two Birds, One Stone:  Leveraging Tax Benefits By Using Cost Segregation to Immediately Write-Off All Impaired Assets

Two Birds, One Stone:  Leveraging Tax Benefits By Using Cost Segregation to Immediately Write-Off All Impaired Assets

May 11, 2023 ,,,,,

By Eli Loebenberg, CPA, CEO, Madison SPECS Over the last several years, the use of cost segregation studies as a means of lowering income taxes has gone from being a niche practice utilized by the savviest of real estate investors to an almost standard part of purchasing commercial real estate properties, whenever applicable.  This has […]

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Delaware Statutory Trusts for §1031 Exchange Replacement Property

May 11, 2023 ,,,,,

By Barry Neustadt, CPA, Tax Director, Madison 1031 Madison §1031’s exchange clients are often challenged face to find a suitable Replacement Property within the tight 45-day identification period.  We hear about cap rate compression from nearly every investor.  Then, when they find a property, they still need to negotiate an acceptable price and complete their […]

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Mortgage Recording Tax: What Is It?

Apr 18, 2023 ,,,,,,,,

When deciding to purchase a co-op, condo, or home in Brooklyn, New York, you can be guaranteed additional fees and taxes will add up. Some of the fees that can be included in your closing cost are the mansion tax, transfer tax, title insurance, and linen tax (for co-ops). You can also be guaranteed a […]

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What Tax Documents Do I Need To File My Taxes as a Landlord?

Apr 18, 2023 ,,,,,,,,,,

When becoming a landlord or property manager, you are responsible for reporting your rental income each tax season. You can be subject to costly fees, fines, or penalties if you don’t report the proper landlord taxes. This is especially true with the current 1099 requirement from the IRS.  1099 requires landlords to report rental income […]

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Tax Season Tips for Landlords

Jan 19, 2021 ,,,,

It’s tax season again. Time to gather all your docs, find all your receipts, and find out the latest on what’s new for the 2020 tax season. We’ve gathered a few links for you below, as well as a preview of what each covers. And while we can’t help you with your taxes, we know […]

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What You Need To Know About 2019 Taxes

Mar 12, 2020 ,,

Tax season is here, and while it’s on many people’s to-do lists, there are some things you should know about filing your 2019 taxes this year. You may remember that when The Tax Cut and Jobs Act was rolled out several years ago, it was a very confusing time for most everyone. The change of […]

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Tax Season Tips for Landlords by Gino Dimeo

Feb 06, 2019 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,

  Something on many people’s “to do” lists  right now is getting our taxes in order. 2018 is the first year the Tax Cuts and Jobs Act, signed at the end of 2017, will take effect. Confused? I’ve got you covered! Here is a basic year end tax tips guide to help you get the […]

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