Realized vs. Unrealized Gains: Differences and Tax Implications

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Realized and unrealized gains represent profits from the sale of assets. However, that’s the only similarity between the two terms.

How To Convert a Like-Kind Acquired Rental Property Into a Primary Residence

There may come a time when you want to turn an investment rental property acquired through a 1031 exchange into a primary residence. While the process is usually not complicated, converting real estate assets acquired through a like-kind exchange could pose several challenges. The IRS has strict rules regarding the use of such assets. Failure to comply could result in the loss of your tax-deferred status.

Converting a Primary Residence into a Rental Property

Two little houses on desk with a person discussing paper work.

Selling your residential property might be a way to generate income. But it’s not the only way. You might also consider converting that primary residence into a rental property.

What Is the Difference Between Single-Family & Multifamily Properties?

There are plenty of property types available for investors who want to build their portfolio with real estate investments. Two of the most popular categories of real estate are single-family and multifamily properties — residential structures that serve as living spaces for tenants.

Can My S Corp Buy My House?

An S corp can be a valuable structure for a business, offering streamlined operations and some potential tax advantages. An S corporation has less than 100 shareholders and can be a sole proprietorship or a larger company. This entity does not pay federal income taxes at the corporate level but instead passes income or losses to shareholders to be reported on their returns. However, some states require S corporations to pay income taxes, including New York and California.

Estate Planning: What It Is, What It Costs, Finding the Right Attorney & More

There’s one eventuality that no one can escape: death. As morbid as it may sound, you have to prepare for your ultimate passing, especially if you have assets that you want to protect or bequeath after you pass away. Planning for the future may be daunting, but there’s a practice that helps streamline this process: estate planning.