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Comments On Florida Tax Reform Proposals 2008-01-01 05:46:00 What would be the direct consequences if the tax reform is approved in January?Florida Property Tax Reform to go on ballot January 29. Voters will have to approve by a 60% majority votes the property tax reform approved by the House and Senate, Monday October 29.The trimmed down package will reduce the average homeowner tax by an estimated $220 per year. This is accomplished by increasing the ...

Keep More Of Your Money With A 1031 Exhange 2008-01-01 05:43:00 If you own (or are planning to own) investment real estate, you must carefully consider the tax consequences as they may have a substantial impact on your investment outcome. If you own investment property for a period of 2+ years and then sell it, the gain on the sale is considered a "long term capital gain" and it is taxed at maximum rates of 15%. If you purchase investment properties, rehab ...

Reflections About Florida Property Tax 2008-01-01 05:37:00 I just learned that eleven citizen's initiatives regarding Property Taxes have been registered so far with Florida Division of Elections. They all need to get 611,000 signatures to be placed on the ballot, and would have to be approved by 60% of the voters.They range from:- requiring voters to approve any local government initiative to increase their tax revenue by more than 3 percent, to- Limit ...

Bond Organisation 2008-01-01 05:16:00 When looking into buying a property, the hassle of applying for a home loan can be disastrous to say the least. There is endless paperwork and meetings with the bank to deal with. For several years, overseas residents have been able to handle this with the assistance of Bond Organisations. This service is now available in South Africa.Bond Organisations are basically a service that acts between ...

Are You A Dealer? 2008-01-01 00:30:00 One of the most popular ways that both beginning and experienced real estate investors choose to generate cash flow for their real estate investing is through a quick sale or "flip" of a property. These transactions often generate the income that an investors lives off of while building a portfolio of "holding properties" to generate future wealth. The Internal Revenue Service may determine that ...

Value Added Tax When Buying Property in Cyprus 2008-01-01 00:26:00 There seems to be some confusion regarding paying VAT on the purchase of property after Cyprus takes on the Euro beginning in 2008. Many people believe that starting in 2008 all property purchases will have Value Added Tax added to it, which is not the case. Any purchase of property that received its' planning permit prior to May 1, 2004 will not have VAT apply and every property that has applied ...

How Do We Like the New Florida Tax Reform Project? 2008-01-01 00:25:00 I have just learned that a new proposal could go before voters in November 2008. It is sponsored by an umbrella group formed by several organizations which were developing different plans, but are now uniting their efforts.That would be the third serious effortIn essence, the plan proposes a general cap of 1.35% on the taxable value of any real estate property, as its yearly property tax. This ...

Tax Lien Property - Can You Afford To Lose Your Home? 2008-01-01 00:23:00 Tax lien property investments are really not that new. Many would be investors still do not know how to use them to complement their other investments today. As the stock market is not the only means of appreciating an asset base - cash anymore. Some others feel that the roller coaster ride on Wall Street often leads to sleepless nights and upset stomachs. Not so when you invest in real tangible ...

Rental Property Tax Benefits 2008-01-01 00:21:00 People who own residential rental properties are afforded numerous tax benefits. You are allowed to offset your rental income with rental expenses. If you own rental property it is critical that you understand the tax advantages afforded to you that will enable you to protect your income and lower your tax burden.Here are a few of the deductions the IRS grants you on your tax return if you own ...

Tampa's Property Tax Reform Bill - Changed Again! 2008-01-01 00:17:00 If you read my last article on Florida 's property tax reform, um......disregard! They've changed the bill yet again. According to our legislators, this one is the last draft. In fact, they entitled the publication, "Final Property Tax Relief Package."This one is certainly more-straight forward. Here it is in a nutshell.1. We get to keep the "Save Our Homes Act," which means that the taxes on a ...

How Property Taxes Are Calculated On A Home 2008-01-01 00:16:00 Real estate properties in the U.S. are taxed by the federal and state governments. Taxes on these properties are a major source of revenue for local governments. Property tax rates, in the form of percentage, are usually decided by city councils, school boards, town boards, village boards and county legislatures and are collected each year by municipalities such as cities, counties and districts. ...

5 Ways To Lower Your Property Tax 2008-01-01 00:12:00 The following article includes pertinent information that may cause you to reconsider what you thought you understood. The most important thing is to study with an open mind and be willing to revise your understanding if necessary.Many property owners do not want the city assessor to come into the interior of their building. If you have done extensive work, well, then okay, you have a reason. If ...

How Real Are Real Estate Taxes? 2008-01-01 00:06:00 My rich uncle would say, Even if I purchased my daughter a $1M home, she would still not be able to afford it because of the real estate tax. Unfortunately, one of the most overlooked expenses for first time home buyers is they will have to pay. With the high home prices these days, the amount you pay can be significant; and therefore be the deciding factor whether or not you can afford to ...

Inheritance Tax - Will You Have To Sell Your Property Quickly? 2007-12-31 23:58:00 The inheritance tax was invented by the emperor Augustus as a means to raise money for soldier's pensions and has been used ever since to redistribute wealth in the west.When placing a value on a deceased person's estate all assets are included. This means the possessions, money and property the person owned at their time of death. It can also include some assets, which they gave away in the ...

Untangling Florida Property Tax Riddle 2007-12-31 23:57:00 The unending creativity of different groups trying to find a solution for the Property Taxes problem in Florida is starting to overwhelm and confuse most of us. Let's try to understand:A) First we had the Florida Legislature rolling back property taxes (to their 2006 level!). However they left the door open for cities to override the rollback by a two third majority vote, which was actually done ...