Tax
Jan. 27, 2010
Tax Rules to Know When Selling Property
Robert Wood of Wood & Porter discusses methods by which tax can be deferred or eliminated when contemplating sale of property.





Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
You may never sell your property, but if you do, odds are you'll have taxes to pay. After all, the real estate market is supposedly coming back. Usually, the longer you hold property, the bigger your gain. The good news is that usually the gain will be capital, meaning a federal tax rate of only 15 percent. But California's tax rates aren't as forgiving, so you'll pay up to a whooping 9.55 percent (in some cases, even 10.55 percent) to the Golden State. Tha...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In