Real Estate Taxes

Real Estate Tax Consulting

Weather if you are a first time Home buyer or you are a Real Estate Investor, you need a Professional Real Estate Tax Accountant to help understand the income taxation of real property and all the benefits behind real estate tax deductions.

TENN-TAX has the most talented Real Estate Tax Professionals and our experience in Budgeting, Planning, Investments, and Tax Reporting is our base of helping individuals and real estate investors to structure their operations in a tax efficient matter and increase savings from the real estate taxes and set a comprehensive financial plans to reduce risks.

Buying a home can hold several investments and saving opportunities for both Individual Homeowners and Real Estate Investors. First, it offers financial advantages such as the increase of real property value; The sale of a property might bring in more money than the owners's purchase price.

Second, by the time you make the monthly mortgage payments on time, the total mortgage debit will reduce and increase the ownership interest in the property. Third, you will get many benefit by claiming many real estate tax deductions such as certain loan origination fees and loan discount points.

TENN-TAX Professional Real Estate Consultant will help individuals homeowners to maximize their savings and minimize taxes including:

Mortgage interest payments on 1st and 2nd homes
Real Estate Taxes
Certain loan origination fees
Loan payment penalties

Real Estate Tax Deductions and Expenses to be reported for Real Estate Investors include:

Mortgage Interest
Real Estate Repairs
Depreciation Expense
Local Travel Expense from and to your real property
Long Distance Travel expense from-and-to your real property
Contractor's and Employees wages
Casualty Losses (Fire, Flood, etc)
Insurance Expense
Professional and Legal Fees

TENN-TAX Professional Real Estate Consultant can also get other tax benefit from Real Estate transactions including

Married couple filling jointly on their Federal Income Tax are entitled to $500,000 exclusion from the capital gain when they sell their principal residence home.
Single taxpayer is entitled to $250,000 exclusion from the capital gain tax.
First-time home buyer may make a penalty-free withdrawal (up to $10,000) from a tax-deferred individual account (IRA) to use it as a down payment for a home.