Series: Selling Real Estate Without Paying Taxes
Paperback: 232 pages
Publisher: Kaplan Business (April 22, 2003)
Language: English
ISBN-10: 0793167981
ISBN-13: 978-0793167982
Product Dimensions: 6 x 0.5 x 9 inches
Shipping Weight: 10.7 ounces
Average Customer Review: 4.5 out of 5 stars See all reviews (13 customer reviews)
Best Sellers Rank: #1,005,749 in Books (See Top 100 in Books) #238 in Books > Business & Money > Taxation > Personal #858 in Books > Business & Money > Real Estate > Buying & Selling Homes #886 in Books > Law > Tax Law
This book is just what the doctor ordered. I am not an accountant or big time property investor but I needed to find out how to deal with the taxes I faced on the sale of a small apartment building. This book covered the stuff my realtor talked to me about and went far beyond. I quickly found out that what I was planning on doing wasn't going to work out the way I (or my realtor) thought. However, this book gave me other ideas and choices I hadn't considered; some of which would work pretty well for my situation. I don't necessarily enjoy reading business or tax books, but this one was surprisingly easy to read and understand. I was able to get through the book in a few days and didn't get bored or mind boggled. Now I've got both my realtor and accountant reading it. This one is worth the time invested. Hat's off to the author.
I have read a number of books about real estate tax planning, and this is by far the best. It is clear, to the point, and very readable. The author goes through the basics of how a capital gains basis is calculated, rules about stepping up basis, primary residence exclusion rules, etc. He then discusses various ways of deferring or eliminating capital gain consequences via 1031, installment sales, private annuity trusts, charitable remainder trusts and Roth IRAs. The chapter on private annuity trusts is one of the least known, yet most valuable strategies that exists. Buy this book!
This book is a "must read" for anybody who is considering buying or selling real estate in their lifetime. Many of the strategies listed in this book are very cutting edge. There are so many detailed tax advantages that are expressed in an easy to read format. This book is an excellent resource and I highly recommend it.
I was extremely happy to find a "How To "book that got right to the point. It is obvious that the author has "Been There, Done That".The technical explanations were clear and thorough.There are alot of new (to me) and interesting approaches on how to structure transactions. Annuities,IRA's etc.Easy read,a lot of useable content.
I purchased the book to plan my tax strategy when selling an investment property that incurred significant gain. The sections on CRUTs, Installment Sales, and 1031 Tax Free Exchanges were very helpful and thorough. It is somewhat technical information, but written in a manner that a layman (non-CPA) can understand. My only complaint is that he doesn't address the implications of the Alternative Minimum Tax (AMT) anywhere in the book, and it has become a VERY significant consideration for selling highly appreciated property. The other thing I noticed is that his evaluation of TIC 1031 Exchanges covers some of the risks, but neglects to mention that the vast majority of 1031 TICs include HUGE fees or loads. One I examined had a 20% profit to the sales company when the property was flipped to the 1031 investors. Most have 8% - 12% commissions to the salesman. Otherwise, I thought this was an extremely helpful book and I would recommend it...with the caveat that the reader get additional advice on the AMT.
I found the format of the book to be disruptive and interrupted using my Kindle Paper White but if you can overlook the aesthetics, the content is good and helpful. I would have appreciated more on the individual State tax situations, but the disclaimer about the limitations of the books was presented early in the text. I found it helpful and clear.
This book is very well written; logically organized and concise. The information is priceless! For the cost of this book you could be saving 30% of your capital gains money! That's what I call positive ROI. This book is a must have!
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