A Crazy Little Thing Called… FIRPTA. By Jen Hudson

You’re telling me there is a chance that the buyer pays the seller’s taxes???  How is that???  Continue reading

Straight Talk About “Forgiveness.”  No, not the kind of forgiveness at church.  I mean the tax burden kind.

The following is taken (well… almost) directly from Ed McFerran, McFerran Law, P.S. (253) 284-3838 or www.mcferranlaw.com.  He knows a lot of stuff.

First, you’re probably thinking to yourself… “Jen, we’re waaay past this whole recession thing.  Why are you talking about debt forgiveness? Continue reading

A DIFFERENT KIND OF GREEN. By Jen Hudson

Last month we talked about green energy and ways to keep some “green” in your pocket.  This month, there is a different kind of “green.”  One that is transforming our real estate world, and one that you should be aware of. Continue reading

Zoning. It doesn’t have to be the monster under your bed. By Jen Hudson

This next sentence may be one of those “no, duh!” type statements, but just hear me out.  Cities, towns and counties are usually made up of different Continue reading

Good intentions do not replace a qualified appraisal, by Mark Lee Levine

Deduction Denied
Good intentions do not replace a qualified appraisal.
by Mark Lee Levine, CCIM, JD, LLM (tax)

In the recent case of Joseph Mohamed Sr., et. ux. v. Commissioner, T.C. Memo 2012-52, the U.S. Tax Court determined that a taxpayer and his spouse, after making almost $20 million worth of charitable real estate gifts to qualified charitable recipients, could not take the $18.5 million tax deduction for the gifts.

The reason is a failure to follow Internal Revenue Code regulations and use a qualified appraiser. As this case illustrates, in charitable contributions of this size, if such steps are not properly undertaken, there can be a complete loss of the deduction. Continue reading

USDA Financing – Continued Resolution Passed by Congress

UPDATE – Congress has passed temporary Continued Resolution meaning that changes to USDA Rural Housing eligible areas has been delayed until mid December.

What does this mean for PrimeLending and USDA Rural Housing? Continue reading