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Michael Michaud
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Michael Michaud is the founder of Invest2Success.com (http://www.invest2success.com/) and the Invest2Success Blog (http://invest2success.blogspot.com/). He has been investing and trading in the financial markets since 1989. He founded Invest2Success.com to empower individual institutional... More
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Invest2Success
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Invest2Success Blog
  • Tax Smarts Mean Big Savings 0 comments
    Mar 20, 2012 8:18 PM

    TripAdvisor Got A Vaction Rental

    Vacation Rentals Wanted

    Advertise Your Vacation Rental on the World's Largest Travel Community

    March 19, 2012 - Tax Smarts Mean Big Savings - Review the entire article below.

    Real Estate Investment Course

    Learn to Anticipate Real Estate Trends
    For Buyers, Builders, Bankers and Brokers

    More than three months in the making, Learn to Anticipate Real Estate Trends. For Buyers, Builders, Bankers and Brokers is a truly one-of-a-kind, on-demand, online course that goes well beyond any of EWI's previous research on the real estate trends.

    Foreclosure.com

    Foreclosures & Foreclosure Listings
    Preforeclosures, Sheriff Sales, Foreclosures, Bankruptcies, FSBOs, Tax Liens, Auctions, QuickSales, Free Listing Alerts, Real Estate Courses, foreclosure investor training, HUD homes, and mortgage default help.

    Foreclosure.com

    Free Foreclosure Lists - Foreclosure Listings
    # Find the Best Real Estate Deals with Equity in Your Neighborhood. Search our Pre-Foreclosure Listings, Auction Listings and Foreclosure Listings Free for 7 Days. Bank-Owned Properties, H.U.D. Foreclosures and other Government Foreclosures are growing daily. We provide direct Bank contact info for REO's, so you can find properties first. Make Huge Real Estate Investing Profits buying Pre-Foreclosures, Real Estate Auctions, Bank REOs, and H.U.D. Homes at a 20%-50% or more Discount.

    For Sale by Owner

    Buy and Sell Real Estate Without Paying a Broker
    For Sale By Owner helps FSBO sellers sell a house, apartment, condo, or land fast with low cost, flat fee listings at MLS, yard signs, selling guides, low mortgage rates, advertising, appraisal, and title; List with no real estate agent and save money.

    Foreclosure.com March 19, 2012 - Tax Smarts Mean Big Savings

    Tax is an unavoidable part of life, but a little bit of knowledge in the area of taxes can help save you big when it comes to buying and selling real estate.

    Here are a few tips you can use to save money on your next real estate deal:

    Primary Residence vs. Income Property

    When you sell an income property, you may be subject to a capital gains tax to the tune of 30 percent. When you sell your primary residence, typically you are exempt from capital gains tax.

    If you are planning to sell an income property, speak to a tax advisor about your options for deferring, reducing or eliminating your capital gains tax. There are legal ways to be able to declare your income property as your primary residence, for example, or "cancel out" your capital gains tax by buying another property within a certain window of time.

    Mortgage Forgiveness Debt Relief Act

    The Mortgage Forgiveness Debt Relief Act was enacted in 2007 to help foreclosure victims. Typically, whenever any kind of debt is forgiven, you are required to report the amount forgiven as income - and that makes it taxable.

    To avoid putting additional financial burden on foreclosure victims, the Debt Relief Act allows people who have had loan modifications or similar actions taken to not claim their debt relief as income. This program expires at the end of 2012, though, so you need to act quickly to be able to take advantage of it.

    Tax Advantages for Buyers

    Buying a home offers a lot of tax advantages over simply renting. If you are purchasing a home, you may qualify for all kinds of tax incentives to help save you a lot of money on your next income tax return.

    When purchasing a property, be sure to speak to your accountant or tax advisor about the tax deductions available to you. The government programs available to home buyers are changing all the time. Get the expert advice you need to make sure you don't miss out on the tax savings you deserve.

    Complete Tax

    CompleteTax Online Federal and State Tax Preparation
    Easy Tax Prep - No Papers Pens or Hassles

    CompleteTax Gets You the Maximum Refund. CompleteTax guides you through your return to get you the biggest refund you're entitled to. And, when you file your taxes online with CompleteTax, you watch your federal and state refunds add up automatically as you fill out your return.

    Form A Corporation, LLC or DBA
    Start a business. Everything you need to start, maintain and protect your business. When starting out or forming a secondary company these filings should be considered during the initial start up. When forming a Corporation or LLC, consider what it will take to maintain your business year round. C-Corp , S-Corp , Non-Profit and Professional. Formal management structure. Ability to raise capital by issuing stock. Potential tax deductible fringe benefits. LLC's - Limited Liability Company. Simple management structure. Less paperwork; no meeting requirements. No double taxation on salaries.

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