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A Baby Is Your Excellent Biz-Mentor, Unless She Is Born Dead
Yeah sure, but what has it gotta do with a baby? A baby business mentor? I hear you ask. We were babies once. From what I can recall, I can recall nothing. None of us can recall what went on when we were babies. Our earliest memory about ourselves...
Business Names Can Bring Good Fortune
Judging only from the name, which company comes across as more crisply efficient, Order Out of Chaos or Ockahochee Organizers, Inc.? Which business seems more innovative, Kabloom or Finest Flowers? Which consulting firm seems more dependable,...
Don't Reinvent the Wheel, Just Get Yours Rolling
"There is no new thing under the sun" wrote the wise author of
Ecclesiastes. The wheel was always present, it just took man
catching up with the idea to implement it. So, there is no need
to reinvent it, is there? But is your wheel rolling? Is...
Make Profits off of Anything!
by Waheed Adegbite
What is your talent? Are you a good writer, a good artist, good
singer/rapper, are you a good athlete. Take some time think
about what your talent is. Now have you ever thought bout making
money with your talent. Yes, no,...
Story Telling As a Business Tool
Long long ago, it was a time when time itself stood still.
That was the time this story of story telling began
When everyone listened to the story and people learned.
And that was the time people when people were also very happy.
Because...
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Increase Your Buying Power With Capital Gains Reinvestment
Increase Your Buying Power With Capital Gains Reinvestment
When it comes to selling property capital gains reinvestment can be an important strategy for homeowners and commercial and business owners. The Internal Revenue Service requires capital gains tax to be paid on the sale of all capital assets, including properties. Once the sale occurs the tax expense can be enormous, but with a little ingenuity capital gains tax can be avoided and the tax burden relieved. The sale of a home or an investment property can facilitate incredible steps forward for anyone in the real estate market. Planning, education and consulting the experts are the keys to increased buying power!
Uncover the Secret to Real Homeowner Potential
The Internal Revenue Service allows gain generated by the sale of a home to be excluded from federal tax returns. The homeowner must meet the IRS requirements for exclusion. Eligibility for exclusion is based on the five-year period prior to the sale. If a homeowner has owned the property for at least five years and lived in it as a primary residence for at least two years, as much as $250,000 of the gain does not have to be reported on the yearly tax return. For couples filing jointly, up to $500,000 can be excluded based on the eligibility of each spouse. An unknown fact in the real estate world is that exclusion can apply to the sale of vacation and rental homes if they have been used as a primary residence for two out of the last five years. This amount of unreported gain leads to huge savings and greater investment potential.
The Hidden Advantage of Tax Exchange
In the past property exchanges were regarded as highly complex. The current real estate market now agrees that property exchanges are trouble-free, secure and profit producing. Even if a commercial or business property owner sells and then immediately reinvests, capital gains tax must be paid. The Internal Revenue Code Section 1031 allows a taxpayer to exchange property used productively in a trade, business or investment for property of a like-kind. In the exchange the IRS does not recognize any loss or gain and the capital gains tax is deferred. This deferral allows property owners to utilize money originally budgeted to pay the government for
investment.
Following the Rules Leads to Success
IRC Section 1031 has strict guidelines for property owners to follow while engaging in property and tax exchange. Consultation with real estate professionals, qualified intermediaries, lawyers and accountants is essential. Like-kind commercial and investment properties must be the same in nature and have comparable characteristics. The properties can differ in quality and improved property may be exchanged for unimproved property. The relinquished property must be exchanged for a property of equal or greater value, equity or debt. If the replacement property is of lesser value, equity or debt tax is then computed for the amount of the gain or the difference in value. The property owner must pay whichever cost is lowest. Also, properties are only considered to be like-kind when they are located within the same country. Properties within the United Sates cannot be exchanged for properties located outside of the country.
Time Is Money
Property exchange does not require the taxpayer to sell and buy simultaneously. The Tax Reform of 1984 imposed precise limits on the amount of time an exchange transaction can be in process. Property owners have 45 days from the sale of the relinquished property to identify a replacement property. The exchange must be completed within 180 days of closing or on the tax return due date for the current year. Do not miss identification or exchange deadlines! If these deadlines are not met the exchange is no longer qualified and the capital gains tax must be paid.
Armed with knowledge and creativity any property owner can increase their buying power and take their real estate success to even greater heights. Remember to find real estate and financial professionals to assist with adherence to the federal laws. Once you have learned to the most lucrative way to manage your ventures and capital gains real estate victory will be at hand!
About the Author
Elaine VonCannon is an award winning real estate specialist in the Tidewater and Williamsburg areas. She can assist you with commercial, residential, business and investment properties with professionalism and your best interests in mind. For more information please visit www.voncannonrealestate.com.
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| Creativity - Wikipedia, the free encyclopedia |
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| en.wikipedia.org |
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| Creativity For Life |
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| AdCritic.com: Commercial Ads |
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| National Curriculum in Action - Creativity - |
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| Ten Steps for Boosting Your Creativity |
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| Category:Creativity Techniques - Mycoted |
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| Creativity at Work: The interplay of business, art and science |
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| Crayola Creativity Central |
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| gapingvoid: "cartoons drawn on the back of business cards": how to ... |
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| Ideas by Creativity Pool |
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| CREATIVITY |
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| The 6 Myths Of Creativity |
| A new study will change how you generate ideas and decide who's really creative in your company. |
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| CreativeClass.org |
| Richard Florida's "The Rise of the Creative Class" examines creativity and its effects on economic development. |
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| TIP: Concepts |
| The relationship between creativity and intelligence has been always been a central concern of psychology ( Guilford , 1950). Much effort has been devoted ... |
| tip.psychology.org |
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| American Creativity Association (ACA) |
| An incorporated non-profit organization promoting personal and professional creativity. Association membership is represented by four multidisciplinary ... |
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| CREAX - Portal for creativity and innovation |
| A resource for links on creativity and innovation on the web. A selection of 690 links is divided into 67 categories for the visitors convenience. |
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