A great way to reduce some of your tax liability is to purchase a principal residence so that you can benefit from some of the qualified tax deductions. We’ve grown tired of hearing realtors miss inform their clients about what they could and would save if they were to purchase a property. You have to remember that not all of the home payment is deductible. If this is your principal residence then you will be eligible to take a deduction for the mortgage interest and property taxes. There are a few rules on PMI and on the total amount of interest that a lot of times our clients are not aware of. We offer our clients a free tax forecast and personal finance consultation so that they can be 100% sure of what they can afford.
If you own an investment property there are tax strategies that can be used to help you reduce the capital gains and even differ the gains and reinvest it into your next investment property via 1031 exchanges. There are also methods to harvest tax losses from other investments to help reduce the liability. Many of our clients need help understanding how these tools work and on the rules and regulations. Please remember that a majority of the real estate agents don’t understand how this ties in and how it can impact your income taxes.
We’ve put our team together to make sure that you’re not getting yourself into a situation that you will regret in the upcoming years. Mario Quezada has worked with hundreds of individuals in helping them deal with the IRS and FTB because of errors on the behalf of real estate agents and advisors who more concerned about their commissions and not about their clients best interest. He has decided to now partner up with Mike Villella who was working with investors who were purchasing and selling short sales and foreclosures. This partnership is going to bring their clients an unbiased experience whether this is your first home or your next apartment building. We will help you with the transaction and provide thorough tax planning to make sure that you’re not left in the dark once you make that next major purchase.
If you’re an executive of a trust that is required to sell a property of properties you can rely on us to help you through the process. We’re currently handling probate sales and work directly with attorneys.