To accurately calculate real estate capital gains, always keep track of the capital improvements on your property. When you sell the property, you will need to add these amounts to your total purchase cost and subtract that from the net sales price. Of course, you may have your homestead exclusion to apply against this as […]
The mortgage interest deduction is based upon interest on a million dollar loan….maybe not! #TuesdayTip
Just because I get this small benefit from property tax on my home in another state does not mean I can’t claim Homestead in Florida…..OOPS!!! Please call our office at 772-234-5500 to speak to Attorney Robin Lloyd about the Homestead Laws and owning property in multiple states.
So I own my home in Florida and have it homesteaded but I rent it out once a year……..woops!! Am I in trouble? Please call our office at (772) 234-5500 if you have any questions regarding renting your homestead property.
Will the Estate Tax Law change as a result of the 2018 Congressional Elections? This is the big question, depending on your answer will decide whether or not you have to do something today to lock in your $11, 180,000.00 exemption by the proper use of Trusts. Robin A. Lloyd, Sr. Esquire
At the end of the year we were assured that we were getting tax stability. Suddenly we would have a tax code that both businesses and individuals could rely on for a stable future. You would know the rates, deductions and credits for years to come. Planning would be a simple matter and change would […]
The Senate narrowly passed its Tax Reform Bill in the early hours of Saturday morning, with a 51-42 vote in which no Democrats voted in favor of the bill. This marks a significant achievement toward real tax reform, as the House and the Senate now enter conference to merge the House Tax Bill and […]
By Beckett Horner, J.D., LL.M. in Taxation Hurricane Irma, an historically powerful and potentially devastating hurricane, continues to strengthen in the Caribbean, and we would like to extend our well-wishes to everyone in its path. As long-standing residents of Florida, we know how serious these storms can become, and we hope everyone stays safe and […]
By Beckett C. Horner, J.D., LL.M. in Taxation A cross-country move can be stressful in all aspects; purchasing a new Florida home remotely, coordinating movers, establishing utility accounts, applying for homestead, setting up bank accounts, getting unpacked, and slowly settling in are all important items on a mover’s to-do list. A common oversight in a […]
By Beckett C. Horner, J.D, LL.M. In planning for non-taxable estates, one of the client’s most important goals (after distribution provisions are drafted) is to avoid probate, and this is usually achieved by utilizing a Revocable Trust as the client’s main estate planning document. The Trust will control where the client’s estate goes after the […]