All Posts Tagged With: "Rent"
I can buy a home from my family. What are the major issues that will concern the IRS?
Real estate transactions tend to be major financial events, so there can be substantial tax issues. In the case of buying a home from a family member, there are several questions to raise: ___Are you paying a fair market price? An appraisal or market studies by real estate brokers can establish the value of the [...]
26Aug2008 | Peter G. Miller | 0 comments | Continued
My elderly parents want to sell us their house and then rent it back. Is this a good strategy?
This gets us to a ghoulish discussion, but it is probably best for them to will the property to you — you would then receive the property at its stepped-up basis at their death. Alternatively, if you received the property as a gift, there might be gift taxes for them and significant capital gains taxes [...]
26Aug2008 | Peter G. Miller | 0 comments | Continued
Should I Price A Home On The Basis Of Its Rent?
Question: I want to invest in real estate. Is there a way to price homes based on rental values? Answer: No doubt you can compute a return on investment given a purchase price and such factors as improvement costs, net income, the value of depreciation, savings through amortization, and appreciation (if any). But then no [...]
23Aug2008 | Peter G. Miller | 0 comments | Continued
Can I Break My Lease If I Get A New Job — 50 Miles Away?
Question: I have received a job offer in another city. What do I do about my apartment — I still have 14 months on the lease? Answer: A lease is a contract. If you cannot fulfill the terms then you may be responsible for rent and other costs as the landlord seeks a new tenant. [...]
22Aug2008 | Peter G. Miller | 0 comments | Continued
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