Before you sell any real estate, you should contact us. Why? Because we can often help you avoid all of the tax on the sale!

We use techniques that can allow you to sell the real estate and either defer the tax or eliminate the tax altogether. We are your Tax Lawyers.

Whenever you sell real estate, you may have gain on the sale. This gain can result from selling the property for more than you bought it for because the property has appreciated in value. However, you can also have gain even if the property value has not increased in value or has even gone down in value. For example: Rental property, both residential and commercial, provide gain because you are taking depreciation deductions.

The gain on the sale can be taxed as capital gains income with a rate of about 25%, federal and state, or some of the gain can be taxed at ordinary income rates as high as 45% federal and state.

This tax is the bad news.

The good news is you can do proper planning and avoid the tax altogether – because we can help you avoid it!

We use tools that can allow you to sell the property without tax and invest in other real estate you control and manage.  But even if you are selling partly because you are tired of managing real estate, there are still tools that allow you to defer or avoid tax and escape the hassles of real estate management altogether.

The planning to avoid tax on sale of real estate is part of a careful estate plan to make sure the tax savings are preserved for your spouse and other family members.

If you have already sold your estate, we cannot help.  But we can help avoid that tax if you contact us before the sale.

So, if you are planning on selling real estate – contact us early!  We can help you keep those taxes rather than pay them to Uncle Sam.