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 […]
Many things are still unknown about the new Tax Law. Attached is a review of the various Code provisions. The most important aspect is the “Expiration Dates” of the various sections. There has been a lot of discussion about the estate tax. It should also be noted that the income tax and several other sections […]
Robin A. Lloyd, Sr., Esq. January 23, 2018 Greetings from the Heckerling Tax Institute. They are trying to explain the new tax code this week. Since the Tax Code has many parts, this is not easy. Although a law has been passed the next step is the Regulations where Treasury explains what the Code means. […]
Robin A. Lloyd, Sr., J.D. January 9, 2018 GUNS, GUNS EVERYWHERE! Apparently, because of the concern over a potential firearms ban, a good number of people bought firearms over the last few years. Because of our estate planning work, I started to think back at how many estate inventories I had with weapons in them. They […]
As the House and the Senate try to reconcile the differences in their tax bills and build the similarities into coherent tax law, there are some aspects of current tax law that should be taken advantage of before year’s end. Charitable Deduction Contributions Although both versions of the tax bill maintain charitable contribution deductions, […]