Build | Protect | Transfer
Real Estate Wealth
Imagine How Simple it Can Be With The Right Plan!
How to Overcome The Greatest Obstacle to Build Generational Wealth!
The Impact of Capital Gains Taxes
Importance of Understanding Cost Basis
The amount of Capital Gain or Loss, and the tax associated, is calculated based on the Cost Basis of the sold property.
Therefore it is important to consult with your Tax Advisor to ensure you understand your cost basis and potential tax implications prior to selling.
Stepped Up Vs. Carry Over Basis
Cost Basis may be stepped up, as in the case of death of the property owner, or carried over.
In partnership with your trusted Tax Advisor, and with proper planning, we can employ strategies to minimize the impacts of Capital Gains Taxes and meet the objectives of the family.
Minimize Capital Gains Taxes
When you sell real estate, the sale may be subject to taxes based on the gain in value of the property. The gain in value is classified as a capital gain and the potential tax associated with that gain is referred to as a capital gains tax. Capital Gains taxes can be one of the largest obstacles to building generational wealth. Understanding Cost Basis is a critical component of minimizing capital gains taxes. Through a real estate plan we look to employ strategies to minimize or even eliminate capitals gains taxes, enabling families to pass more wealth to future generations.
Investment Properties
When considering Capital Gains Taxes for investment properties, Executing a 1031 exchange may enable you to defer some all of the capital gains taxes associated with the sale of a relinquished property.
A 1031 Exchange allows investors to sell one or more investment properties and buy one or more "like-kind" properties that better meet their investing objectives. Understanding the opportunities a 1031 exchange presents and the strict rules around executing an exchange are keys to avoiding an unexpected tax bill.
Collaboration with Financial Advisors, CPAs and Trust Attorneys
We work with your team of trusted advisors to ensure the plan you decide on meets all aspects of your financial and real estate goals.
A Real Estate Plan begins with a simple Strategy Session to discuss your family's goals.
*Please Consult a trusted Tax Advisor for guidance.
Do you already know a Real Estate Agent? The answer for most people is Yes. Often there is a family member or close friend who has a real estate license, or even someone you have used in the past.
What we often see is people focusing on the current need to buy or sell their home, and missing out on how the purchase or sale fits into their long-term real estate goals and reacting later in life.
As a Keller Williams (KW) Real Estate planner, our approach to real estate is a bit different. While a Real Estate Agent will focus on the finishing the current transaction a Real Estate Planner helps ensure your current purchase or sale and future decisions you make throughout your lifetime help to achieve your long-term real estate goals.
You will be amazed how a conversation with a KW Certified Real Estate Planner can effect your ability to Build, Protect and Transfer Wealth through real estate.
Office:
3580 Utica Ridge Road
Bettendorf, IA 52722
Call
563-343-4747
Email:
Site:
EasternIowaDreamTeam.com
Each office Independently owned and operated.
© Copyright 2024. The Eastern Iowa Dream Team. All rights reserved.