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Are you tired of Tenants, Toilets and Trash?


===========================================================

Wouldn't you rather go to Tahiti?
Are you a landlord with rental property whose value has
significantly appreciated?
Are you ready to cash in those profits and take that trip to
Tahiti?

Before selling your property, check with your accountant who
will tell you that you will be paying $60,000 in Capital
Gains Tax to Uncle Sam. Your accountant will also tell you
that adding another $20,000 to your income by that sale is
called recaptured depreciation. This will bump you into the
next tax bracket and doom you next April 15th into sending
the IRS a check for maybe another $7,000.

Are you still ready to sell that property?
It looks like that trip to Tahiti is going to be sometime in
the far future…

But wait! You decide to check with your realtor and then
find out about a 1031 exchange to defer your Capital Gains.
Your realtor tells you if you buy another like-kind rental
property of equal or greater value, you won't get hit with
the gains tax on the sale. That is all fine and good, but
it does not really get you out of the headaches associated
with collecting rent, keeping your unit occupied, finding
clean/classy tenants that won't trash the place, nor does it
keep you from getting that 2am call to fix an overflowing
toilet. To top this off, now you have to pay more in
property taxes and must charge higher rent.

Hmm…maybe this idea is not the ticket to that South Pacific
paradise either.

This is the dilemma I heard from my financial clients again
and again. They were frustrated and felt trapped in their
current situation. So what is a frustrated income property
owner to do? After a lot of research and roadblocks, I found
the perfect solution that has changed the lives of my
clients and took away stress to bring enjoyment of life.

For anyone who is tired of being a landlord and who owns a
rental/commercial property that has gone up a lot in value,
take heart.
A 1031 exchange into a Tenant In Common Property may be your
answer.

There are very specific rules to follow set by the IRS, and
the entire detailed process is the subject for a future
article, but here's the gist:
1-Sell your current income
property;


2-Before the close of escrow, you declare via a Qualified
Intermediary (also called an Accommodator, who is a
qualified third party) that you intend to do a 1031 exchange
into a Tenant in Common Property;
3-Work with a reputable
company to identify a property that you would like to
purchase an interest in;
4-At the close of escrow, your
proceeds are transferred by the Accommodator to purchase
your proportionate share of a larger "A" rated commercial
building;
5-You may choose a business center, a medical
office building, or similar high-end property; and lastly,
6-You get a deeded interest in this property, so you can
keep it, resell it, pass it to your heirs, or even gift it
to charity upon your death.

The way that this works is all the new fractional owners, or
"Tenants in Common" hire an ace Management Company to handle
all the property management tasks. The company finds and
keeps high quality tenants, does the maintenance and
upgrades, pays the property taxes, and handles all the day
to day crisis that arise. Probably the three most important
factors in this entire process are:
1-Your choice of company
that offers the properties for sale;
2-the Accommodator,
and;
3-the management company.

Make sure each of the three parts is a top notch with proven
track records. Anything less could spell disaster.

When this 1031 option is done properly, your benefits will
be:
Deferral of all Capital Gains,
A monthly contractual income (usually based on 6-7% return
on equity),
Building depreciation for tax savings,
Unlimited property appreciation potential, and
No more headaches of property management.

Good-bye Tenants, Trash and Toilets!
Hello Tahiti!

=-=-=-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-
How much would you pay to save thousands in Capital Gains
Tax? I'll teach you for free in a Teleconference that may
change your life. Sign up at ==> http://www.savegainstax.com
=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-

Paula Straub is a Financial Advisor, Insurance Agent and Mortgage Loan Originator in San Diego, CA. As a successful business owner, Paula strives to guide clients to financial independence in the most timely and efficient manner possible.

 

Internal Revenue Service
The US government agency responsible for tax collection and tax law enforcement. Includes income tax forms, instructions, and agency publications.
www.irs.gov
 
Tax Information for Individuals
Access to useful information, booklets and other tools from the Internal Revenue Service.
www.irs.gov
 
Tax Center - Yahoo! Finance - Tax forms, tips and calculators.
Yahoo! Finance: Tax - Find all the resources you need for tax season. Review recent tax law changes, estimate your taxes, find tax tips and expert answers ...
tax.yahoo.com
 
Taxes: Tax Planning, Tools and Advice - MSN Money
Microsoft's Tax Preparation site, in association with Tax Server.
moneycentral.msn.com
 
Tax - Wikipedia, the free encyclopedia
Governments use different kinds of taxes and vary the tax rates: ... Taxes are most often levied as a percentage, called the tax rate, of a certain value, ...
en.wikipedia.org
 
H&R Block | Taxes, Online Tax Preparation, Tax Software, Filing ...
Offers online and in-person tax preparation and tax software, mortgages, brokerage and financial services, consumer tips and tax planning information.
www.hrblock.com
 
TaxCut Online | H&R Block | Online Taxes, File Taxes Online ...
File your Taxes online with TaxCut Online. Learn how to file taxes online here.
www.hrblock.com
 
Income Taxes, Tax Returns, Refunds, Deductions and E-File Software ...
Popular tax preparation software by Intuit. Integrates with Quicken, spreadsheets and offers state by state electronic filing.
turbotax.intuit.com
 
Taxes & Estates, Tax and Estate Planning Advice - Forbes.com
Personal Finance - Get tax and estate planning advice and information from Forbes.com.
www.forbes.com
 
Essential Links to Taxes
TurboTax Premier For Federal Returns 2005 Win/Mac, TurboTax Total Tax Solution Deluxe 2005 with State Win/Mac, TurboTax Basic 2005 Win/Mac... ...
www.el.com
 
Government > Taxes in the Yahoo! Directory
Yahoo! reviewed these sites and found them related to Government > Taxes.
dir.yahoo.com
 
Taxes - Tax News for Home and Business from CNNMoney
The latest in tax law updates, news, forms & advice from CNNMoney.com. Includes a refund savings calculator, and interactive tax lessons.
money.cnn.com
 
The Tax Foundation - Educating Taxpayers Since 1937
Devoted to educating taxpayers about tax policy and the total tax burden borne by Americans at all levels of government.
www.taxfoundation.org
 
Welcome to the Vermont Department of Taxes
Welcome to the Vermont Department of Taxes... ... Changes to Property Tax Adjustments in 2007 - updated 10/18. - Tax Expenditures Transition Report on ...
www.state.vt.us
 
Franchise Tax Board Homepage
The department that collects state personal income taxes and bank and corporation taxes for the State of California. Access to forms and tax information.
www.ftb.ca.gov
 
HM Revenue & Customs: Home Page
News and information on tax and national insurance, including downloadable leaflets and forms and the latest news on filing tax returns on-line.
www.hmrc.gov.uk
 
State and Local Tax
Piper Resources; State Tax Rates and Structure ...Federation of Tax Administrators; State Payroll Taxes Information ...Symmetry Software ...
www.taxsites.com
 
Quicken.com
www.quicken.com/taxes/ - 3k - Cached - Similar pages
 
Tax news and advice from Bankrate.com
Information on all phases of tax planning and preparation.
www.bankrate.com
 
Online Tax Advice - Tax Preparation Help - Income Tax Tips
Income Tax Tips - MarketWatch offers online tax advice and tips. ... IRS inflation adjustments mean tax break on next year's taxes. ...
www.marketwatch.com
 
 

 
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