Tax Tips

We certainly get asked a lot of questions about tax consequences of buying and selling property. The IRS has some good resources to pass along. Make sure that you help, but don't advise. Any tax information should be provided by a professional. IRS Real Estate Tax Center - http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Real-Estate-Tax-Center and another good page is the Ten Facts about Capital Gains - http://www.irs.gov/uac/Ten-Important-Facts-About-Capital-Gains-and-Losses