Standard CPA Services

Standard CPA Services

Real Estate Tax Issues

Real estate tax issues can be confusing for the real estate broker, agent, developer or investor. Some examples of problems:

  • Short Sales
  • Section 1031 Exchanges; also called deferred exchanges– what can be exchanged?
  • Entity selection – LLC, partnership, corporation, trust, or sole proprietorship?
  • Basis calculation – how much did the property cost?
  • Depreciation – what is the correct useful life for income tax purposes?
  • Mortgage issues – what is deductible, what is not?
  • What expenses are deductible in my business?
  tax planning

Tax Planning

It amazes Ken how many taxpayers are not taking advantage of legal tax savings opportunities. Take the time to speak with a qualified tax professional. There are so many strategies that are possible.At Kenneth R. Cone, CPA, tax planning is geared to the following:

  • Financial investors,
  • Real estate investors, or
  • Business entrepreneurs.

Tax strategies and economic strategies can optimize your after tax disposable income. As more fully described at, I became a Certified Tax Coach to enhance my ability to serve the tax paying public. If you are willing and able to plan ahead, you may be able to save money through minimizing taxes. Please review for more detailed information on how a planned tax strategy can help you reach your dreams.

Tax Compliance

In a “perfect” world every tax preparer would look at the same facts that you provide and produce identical tax values. In the real world, judgment enters the picture. For example, Ken states that under the circumstances “that” is deductible.   A more conservative preparer says it is not deductible. Who is right? The problem is that while some issues cross the line from tax avoidance (legal) to tax evasion (illegal), other issues are not clear cut. So the question is, “Which preparer helps you sleep at night?” Ken’s approach to tax compliance is to trust the source data (the text of the law and the text of any legal documents involved in a transaction) and to be aggressive within the law. Ken understand that there is a lot of anger over income taxes. Money in general is one of the most powerful sources of insanity. He’s not referring to clinical insanity here. Ken’s referring to the man on the street who is trying to scratch out a living while watching our government squander our tax dollars on programs we don’t agree with. In the long-term, the people who let their anger cause them to cross the line into illegal tax activities get burned. Working with a professional to legally minimize your taxes while optimizing your after tax choices is the rational approach to this side of life.