Most people see new home construction in their neighborhood as a good thing. New homes typically help increase the market value of properties, so when someone in an older home goes to sell, they often can ask a higher price than areas without new construction. But too often the county takes that a step too far and assumes the assessed value of the older homes is the same for the new homes. Most of the times, this isn’t the case. (more…)
Archive for the ‘Finance & Mortgage’ Category
New Home Construction Affects Home Tax Values
Wednesday, October 7th, 2009Property Income Tax Reduction in Texas
Wednesday, October 7th, 2009The Texas Property Tax Code for many years had required owners of business personal property (BPP) to annually render those assets used in a business. Rendering is summarizing to the central appraisal district the ownership and value of the assets. Historically, however, over half of all owners of business personal property have not rendered. (more…)
Accelerated Depreciation Deductions - Tax Deduction Ideas for Businesses
Wednesday, October 7th, 2009“Collecting more taxes than is absolutely necessary is legalized robbery.” - Calvin Coolidge, 13th President of the United States.
In addition to the numerous tax deductions the Internal Revenue Service (IRS) allows, research indicates that most U.S. taxpayers do not claim all deductions to which they are entitled. (more…)
Real Estate Cost Segregation
Tuesday, October 6th, 2009Taxes are your enemy, but tax deductions are your friends. Taxes are the great bane of most businesses. Alas, business deductions act as a salve to cool the burning and itching of your bank account. Business taxes can be summarized simply as calculating your total revenue, reducing this amount by as many tax deductions as you can and then paying tax on the remaining amount. (more…)