Considering the options: the like-kind exchange and the personal residence

Article Abstract:

The concept of like-kind exchange and its implications for real property tax deductions are discussed. The primary rule to consider is that property categorized as 'personal use' cannot qualify for like-kind exchanges. Some of the issues to consider are whether a portion of a property has been converted into non-residential uses and whether there was division between residential and non-residential portions. The conversions could result in rental, trade or investment properties. Tax deductions could be applied on the conversion costs of the property.

Tax policy, Homeowners

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Finally, something good comes from asbestos contamination

Article Abstract:

The Appellate Div. of the New Jersey Superior Court upheld a decision of the Tax Court that a contaminated real estate property will have a nominal value when the estimated cleanup costs are in excess of the property's fair market value. Taxing authorities have held that the costs of environmental regulation should not apply to property values. As a result of the decision, assessors should henceforth consider the costs of environmental compliance in their valuations.

Real Estate, Real Estate and Rental and Leasing, Methods, Laws, regulations and rules, Valuation, Asbestos removal

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1031 exhanges offer unlimited opportunities for investors

Article Abstract:

Real estate investors can avoid paying taxes on acquisitions under the Tax-Deferred Exchange provisions of the IRS. The provision allows investors to exchange income-producing properties without being taxed, on condition that the property being exchanged is real estate. The profits from the exchange are not subject to taxation, and the sale itself can be accomplished through an intermediary.

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