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December 16, 2018

Cost segregation breaks your real property into its components, some of which you can depreciate much faster than the typical 27.5 years for a residential rental or 39 years for nonresidential real estate.

When you buy real property, you typically break it into two assets for depreciation purposes:

  • land, which is non-depreciable; and

  • building (residential is 27.5-year property; nonresidential is 39-year...

December 9, 2018

When moving your retirement money to an IRA, you should follow this one rule of thumb.

If you fail to follow the rule I’m about to reveal, you can face two big problems.

  • First, your check will be shorted by 20 percent.

  • Second, you will be on the search for replacement money.

Here is this very important rule of thumb that you need to follow: Move the money using a trustee-to-trustee transfer. Nothing el...

December 2, 2018

The days when you could convert your rental property or vacation home to a principal residence and then use the full $250,000/$500,000 home-sale exclusion to avoid taxes are gone.

Here’s how the $250,000/$500,000 exclusion works today. You must divide your period of home ownership into two categories—qualified and non-qualified use:

  • Qualified use means the time you or your spouse use the home as your principa...

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