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Until it happens, most homeowners think of disasters as something that won’t happen to them. Disasters can be as minor as a tree branch falling and breaking a few windows, or as concentrated as a pinhole roof leak slowly dripping water into a residence—causing mold or other ripple effects. Sadly, too many people who experience disaster on a large or small scale may find the trauma continues when it’s time to file an insurance claim. You need to be knowledgeable about what your Homeowner’s Insurance does and does not cover. These…

FIRPTA (Foreign Investment in Real Property Tax Act) Withholding is the Withholding of Tax on Dispositions of United States Real Property Interests The disposition of a U.S. real property interest by a foreign person (the transferor) is subject to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) income tax withholding. FIRPTA authorized the United States to tax foreign persons on dispositions of U.S. real property interests. Persons purchasing U.S. real property interests (“transferee”) from foreign persons, certain purchasers’ agents, and settlement officers are required to…

  Moving to a new house, city or state is one of the most stressful things a person can go through. Even when everything goes smoothly, you’ll likely be exhausted when all is said and done. Whether it’s down the street or across the country, moving is a major task that requires much effort and coordination. For this reason, many people choose to hire a moving company, but knowing who to entrust your belongings can be a daunting task. While you do have the option of going the DIY route when moving,…

South Florida Real Estate for Sale   It’s cheaper, and sellers are serious! The off season is Florida is typically the end of Easter/Passover through Thanksgiving. Buying a home in the late Spring and Summer can be a thrifty move for homebuyers because it’s cheaper, sellers are ready, there are fewer choices, the buyer becomes the negotiator. There’s typically less competition during the off season, which means buyers can get more bang for their buck. The four months with the…

IRA Investment Strategies There are several advantages of using a self-directed IRA or Solo 401(k) plan to buy real estate. The first is tax deferral or tax-free growth. For example, if one purchased a piece of property with retirement funds for $80,000 and later sold the property for $300,000, the $220,000 of gain appreciation would generally be tax-deferred. Whereas, if you purchased the property using personal funds (non-retirement funds), the gain would be subject to federal income tax, and in most cases, state income tax. Second, a…