Tax Planning, Retirement Planning, Estate Planning and Insurance Planning
Monday, November 19th, 2007Tax Planning
Tax planning in the broader context of financial planning is all about reducing, postponing, avoiding, or eliminating the tax consequences of a financial activity. You should seek tax-planning advice from a professional tax accountant.
Real estate is a favored asset in the U.S. tax code and offers perhaps one of the few opportunities for house-holds to take advantage of the tax system in their financial planning activities. The favored tax treatment on property is a long list and includes: the mortgage interest deduction, property tax deduction, passive loss treatment, capital gains exclusion, deductibility of certain closing (settlement) costs, and 1031 transfers, to name a few. I recommend that you discuss these issues at length with a professional financial advisor and / or accountant.




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