One of the perks of the real estate business is that it lends itself to many tax-avoidance strategies. Here are some of the accounting tools that have recently been in news headlines because of this unusual presidential election and that property owners often employ to turn losses into tax savings. Net Operating Losses For many… [Continue Reading]
Tax Refund for Depressed Housing
With all the talk of house prices rebounding after valuations tanked during the Great Recession, it may be easy to forget just how precipitously home values fell after their peak a decade ago. Last January, the Detroit Free Press reported that home prices across Southeast Michigan have risen back to 2007 levels. However, for many… [Continue Reading]
Nate Resnick in Free Press on Flint Water Crisis and Property Values
Flint’s water crisis may have even more ramifications, including causing property values to plummet. One Flint property owner already claimed poverty as a result of the costs of obtaining water and asked for the property value to be lowered in order to lower their tax bills. Even more significantly, appraised property values may drop precipitously… [Continue Reading]
