If you’re fortunate enough to own vacant land that has appreciated greatly, you may want to sell it. But how much will you pay in tax and is there any way to reduce the tax bill? Here’s a strategy to consider.
Newell & Newell, PC’s Post
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If you’re fortunate enough to own vacant land that has appreciated greatly, you may want to sell it. But how much will you pay in tax and is there any way to reduce the tax bill? Here’s a strategy to consider.
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If you’re fortunate enough to own vacant land that has appreciated greatly, you may want to sell it. But how much will you pay in tax and is there any way to reduce the tax bill? Here’s a strategy to consider.
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If you’re fortunate enough to own vacant land that has appreciated greatly, you may want to sell it. But how much will you pay in tax and is there any way to reduce the tax bill? Here’s a strategy to consider.
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Financial investments, retirement and tax planning; risk management/insurance and estate and legacy planning.
If you’re fortunate enough to own vacant land that has appreciated greatly, you may want to sell it. But how much will you pay in tax and is there any way to reduce the tax bill? Here’s a strategy to consider.
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If you’re fortunate enough to own vacant land that has appreciated greatly, you may want to sell it. But how much will you pay in tax and is there any way to reduce the tax bill? Here’s a strategy to consider.
To view or add a comment, sign in
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If you’re fortunate enough to own vacant land that has appreciated greatly, you may want to sell it. But how much will you pay in tax and is there any way to reduce the tax bill? Here’s a strategy to consider.
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“Ready to save big on your first home? 💰Do you know the maximum land transfer tax rebate? What would you do with the extra savings? Comment below!”
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Have you looked at your local government’s budget sheet lately ? Local and city tax revenue is a good indicator on the health of commercial & residential real estate. Governments earn more tax revenue as values increase and less tax revenue as property values drop. Property taxes account for 30% or more of local tax revenue.
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With an installment sale you can maximize profits and defer taxes. Do you own investment property for example? A downside of selling it is a huge tax bill. However a seller-financed installment sale enables you to defer taxes to one or more later years and could cut your tax bill if spreading out the profits over multiple years putting you in a lower tax bracket.
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With an installment sale you can maximize profits and defer taxes. Do you own investment property for example? A downside of selling it is a huge tax bill. However a seller-financed installment sale enables you to defer taxes to one or more later years and could cut your tax bill if spreading out the profits over multiple years putting you in a lower tax bracket.
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