DEPRECIATION. An Imaginary Expense.

THIS ILLUSION IS ITS OWN MAGIC TRICK. NOW YOU SEE IT. NOW YOU DON’T!

Meet Jack.  Jack is an investor.  He has been doing this a while.  He likes rental properties and has a lot of them.  Continue reading

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

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

What is the Point of Title Insurance? By Jen Hudson

Title Insurance DisneyA question I hear frequently is “why do I need  title insurance?”

Well… as they say at the Big Thunder Mountain Railroad in Disneyland.. Hold onto your hats and glasses folks! 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

Tired of Treading Water? (Based on a True Story.) By Jen Hudson

Let me tell you a story.  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