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10 Tax Tips For Real Estate InvestorsAs real estate developers and investors do business throughout 2007, they may face complex tax issues that can strain resources and drain profits. They should keep in mind these tax tips, which can possibly help them save money in the long run.Do you truly understand your partnership or LLC operating agreement? Do you know if the allocations among members have "substantial economic effect"? Do you know what a qualified income offset provision is? Do you understand minimum gain? In real estate matters, operating agreements typically address these and other important tax issues. Chances are your agreement is written with such issues in mind, and it is important that you understand them completely. Property held for sale that has substantially appreciated in value is a so-called "hot asset." Ordinary gain can be triggered on the distribution of a hot asset, and careful tax planning is recommended prior to such a distribution. Homeowners needing to sell their home visit 888SOLDin9 to talk with our Jacksonville FL partner about their personal financial situation. Our Jacksonville FL partner, Jim Tallent buys, sells, renovates and rents homes and properties in Jacksonville FL, Duval County FL and surrounding areas. click here for article |