I have years of experience with real estate from real estate closings, reducing or deferring tax gain, operation and strategy. My unique offerings:
- FSBO (for sale by owner representation)
- Carryback note and deed of trust (mortgage) drafting
- Integration and drafting with installment sales (Internal Revenue Code section 453)
- Integration and drafting with like kind exchange (Internal Revenue Code section 1031)
- Bring the transaction to the net: I can then prepare your tax return integrating all of the steps of the transaction.
- Lender representation and drafting
I can help you at every stage of your investment: entity selection (LLC, etc), tax planning, tax compliance, purchase, depreciation, leasing, and sale.
Like-Kind Exchanges §1031
We provide tax counsel in like kind exchanges from planning and document drafting to closing
Installment Sales §453
We structure transactions to satisfy §453 Installment Sales. IRC §453 allows the deferral of capital gain until money is received on the carryback note.
Form 1040, Schedule E
We can take a close look at your Schedule E to ensure proper income and expenses are reported. We can check to make sure the adjusted basis is tracked properly for depreciation and sale purposes.
Colorado Real Estate Tax Planning
Colorado taxes capital gains from the sale of Colorado real estate even if the taxpayer is a nonresident of Colorado. As an example, if a taxpayer lives in California but owns a ski condo in Aspen, any gain on the sale of that condo must be reported using a Colorado Form 104 and tax paid. In addition, rents must are taxed in Colorado even if the taxpayer is a nonresident.