Property Tax Assessed Value vs Market Value Difference Explained
Learn the difference between market value vs. assessed value of your home in California, so that you can make sure you get the best price for your property.
Selling a Rental Property in California: Taxes, Capital Gains & 1031 Exchange Guide
If you’re interested in selling a rental property in California, and it’s time to sell, you naturally want to get the best price of the property that you can. While the complicated rules and regulations involved — along with your fear that you may face a high tax liability — may leave you feeling nervous,…
How Much are Closing Costs in California? Average Closing Costs for Seller & Buyer
Curious about closing costs in California? This guide breaks down what home buyers and sellers typically pay in fees and charges when buying or selling a home. Learn about common expenses like title insurance, escrow fees, and real estate commissions, as well as strategies to potentially lower your closing costs.
Selling an Inherited House in California: Property Sales Tax & More
If you’re selling an inherited house in California, there are tax considerations to think about, and if you’ve inherited a share in a house the matter can be complicated. Furthermore, the sale of a home with family history can be an emotional journey, which makes proceeding with care important. While you have options when it…
How to Calculate Capital Gain on Rental Property Sale
Understanding how to calculate capital gains on sale of rental property is key to understanding overall profit on sale but also your liabilities. Even so, it can be bewildering for many. Details like purchase prices and improvements often lead to errors, causing uncertainty about taxes and hindering confident real estate decisions, and the fear of…
Tax Implications of Selling a House Below Market Value
Explore the tax implications of selling a house below market value in California. This guide breaks down how such sales can impact your taxes, providing key insights to help you make informed financial decisions.
How to Report Sale of Rental Property on Tax Return Forms
Taxes in general can send most of us into a downward spiral. Knowing how to report the sale of a rental property on tax return forms can be even more overwhelming! While ensuring accurate reporting of the sale is crucial to avoid penalties and the chance of being audited, that doesn’t make it easy. So,…
Are Closing Costs Tax Deductible in 2024? (Buyers & Sellers)
Buying or selling a property and wondering what closing costs are deductible? It’s a good question and one that can potentially save you a significant amount of money. Unfortunately, determining what is (and what isn’t) a deductible closing cost can be really daunting, as it requires a thorough understanding of the tax code and specific…
Loss on Sale of Rental Property: Deductible Tax Write Offs & More
Selling your investment property and facing a loss can be tough. It doesn’t just dent your financial plans; it also makes you worry about the taxes you might owe. The thing is, this loss on sale of rental property not only affects your investment goals but also adds the complexity of dealing with tax write-off….
