Tax,
Real Estate/Development
Oct. 25, 2017
Sell property, minimize taxes, but pay attention to the rules
You may never sell your personal residence, or other property. But if you do, odds are you'll have taxes to pay. With a personal residence, investment real estate, or other types of investment property, you should consider taxes, optimally before you sign in ink.
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 personal residence, or other property. But if you do, odds are you'll have taxes to pay. With a personal residence, investment real estate, or other types of investment property, you should consider taxes, optimally before you sign in ink.
The good news is that the gain will usually be long term capital gain, meaning a federal tax rate of 15 to 20 percent, depending on your income. Also depending on income, y...
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