Talking to a CPA before you buy or sell real estate could save you thousands of dollars. No, really.
Once you close a real estate transaction, all you can obtain is after the fact guidance. But, if you seek guidance before he transaction closes, there might be tax advantages. At a minimum, You can develop an awareness of the potential tax bill.
Common real estate transaction to talk to AB CPA about prior to closing the deal:
• Do you qualify for capital gain treatment?
• For sale projects
• The Consequences of investor versus developer status
• Understand the different types of income you earn as a real estate professional
• Are you a Real Estate Pro in the eyes of the IRS?
• Does a 1031 exchange make sense?
How does AB CPA know? AB CPA serve hundreds of real estate clients throughout San Diego, and the owner has also developed and currently teaches two real estate tax classes at local universities. AB CPA can offer you technical real world advice based in tax law and common sense. Contact AB CPA for your transactional analysis.