9 Easy Mistakes Homeowners Make on Their Taxes

Don’t rouse the IRS or pay more taxes than necessary — know the score on each home tax deduction and credit. As you calculate your tax returns, be careful not to commit any of these nine home-related tax mistakes, which tax pros say are especially common and can cost you money or draw the IRS …

Continue reading ‘9 Easy Mistakes Homeowners Make on Their Taxes’ »

Like-Kind Exchange Real Estate Tax Tips

Generally, if you exchange investment property solely for investment property of a like kind, gain may be deferred into the future under Internal Revenue Code Section 1031. If as part of the exchange, you also receive other (not like-kind) property or money, gain is recognized to the extent of the other property and money received. …

Continue reading ‘Like-Kind Exchange Real Estate Tax Tips’ »

Balboa Island – dredging and property

A look back to Balboa Island in 1928, from Jeff Delaney’s book Newport Beach: In 1906, W. S. Collins commenced a dredging operation, partially completed by 1910, at which time a sucesion of subdivision map filings began. Prior to the dredging, the island was largely overflowed swamp land and mostly underwater at high tide. It …

Continue reading ‘Balboa Island – dredging and property’ »