News / Finance
How Owning Real Estate Can Provide Tax Savings To California Investors
Tax Deductions Not to Be Missed
Be sure you are taking advantage of all government tax incentives that are available to you. The Solomon Free Money Hour Talk Radio Show, sponsored by Solomon Financial Mortgage & Realty, airing on Angels AM 830, Saturday, May 9th is having guest, David Solomon, from Solomon Ross, Grey and Company live at 1 pm PST. Solomon, Ross, Grey and Co. are Certified Public Accountants. In fact, Fred Solomon, Sr. was recently recognized as one of the top 25 CPA’s by Los Angeles Business Journal. Many of their clients own large real estate portfolios and/or businesses.
David Solomon will discuss many different tax incentives that are available. Often times people are not taking all their deductions and they do not even know it. Knowledge is power. David Solomon says, “When we review people’s tax returns, the amount of potential tax deductions people are leaving on the table can be eye opening -- especially, when you are talking about large companies.” “A lot of people don’t know that you can purchase real estate with the funds from your IRA,” adds Solomon.
There are many tax hiring benefits that people do not know about in California. A lot of real estate investors do not know how they can benefit by accelerating the depreciation on their improvements (on investment property), and how by owning investment property can benefit you and what “chattel” means.
Additional tax benefits are the GO Zone bonus depreciation where you can take a 50% first year bonus depreciation of the improvement – the cost of the structure (if you qualify), as well as other ways to reduce your taxes by Incorporating.
Real estate and finance run in the Solomon Family. Lisa and Fred Solomon, Jr. are co-founders of Solomon Financial Mortgage and Realty and authors of Put Your Money Where Your House Is: The Definitive Guide to Smart Real Estate Investing. Fred Solomon, Sr. of Solomon, Ross, Grey & Co. specializes in auditing, taxation and income tax planning.
You can listen live anywhere in the world to the tax deduction discussion on The Solomon Free Money Hour at Solomon Financial's site, call in during the show live to get your questions answered or e-mail info@sfmdirect.com. For additional information, contact Solomon Financial: 800-811-7709.
The Solomon FREE Money Hour Investment Talk Radio airs weekly on Angels AM 830.
