Intra-family sales and lease-backs of residences

Article Abstract:

Provisions of the Taxpayer Relief Act of 1997 have increased the appeal of within-family sale/lease-back transactions. That appeal results from two features of the act: the increase in and increase in access to the residential property gain exclusion, and the retention of the highest marginal tax rates. The tax and financial-planning advantages of selling a home to family members and leasing it back are discussed.

Public Finance Activities, Tax Deductions & Exemptions, Methods, Analysis, Laws, regulations and rules, Tax planning, Taxation, Estate planning, Sale-leaseback transactions, Sale and leaseback

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Can a homeowner deduct the garage?

Article Abstract:

Taxpayers can claim office-at-home deductions but many fail to claim a deduction for the garage which is used to keep a vehicle used for business purposes.

Management

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