Maximize real estate returns & minimize taxes with ICT Lions' expert tax strategies!
At ICT Lions, our team of accounting experts and qualified tax professionals is committed to helping you take advantage of tax incentives, deductions, and credits specific to the real estate industry by following these exact steps:
Analyze Your Real Estate Business: Our team will conduct a thorough assessment of your real estate business, including income sources, expenses, property holdings, and investment strategies, to gain a clear understanding of your financial position.
Identify Industry-Specific Incentives: We will research and identify tax incentives specific to the real estate industry, such as Opportunity Zones, Low-Income Housing Tax Credits, and Historic Tax Credits, to evaluate which incentives are applicable to your business and investment goals.
Maximize Deductions: Our team will help you claim all relevant real estate deductions, such as mortgage interest, property taxes, depreciation, repairs, maintenance, insurance, and property management fees, to reduce your taxable income.
Depreciation Strategies: We will advise you on the appropriate depreciation methods and schedules for your real estate properties, including cost segregation studies and bonus depreciation, to maximize your tax savings and optimize your cash flow.
1031 Exchange: If you plan to sell investment properties, our team will guide you through the 1031 exchange process, which allows you to defer capital gains tax by reinvesting the proceeds into a like-kind property, preserving your wealth and maximizing your investment returns.
Passive Activity Loss Rules: We will analyze your passive and active income sources to ensure compliance with passive activity loss rules while optimizing your ability to offset passive losses against passive income, reducing your overall tax liability.
Real Estate Professional Status: If you qualify as a real estate professional, our team will help you navigate the complex rules and documentation requirements to ensure you benefit from this status, allowing you to deduct losses from real estate activities against your other income.
Tax Credits: Our team will assist you in claiming applicable real estate tax credits, such as energy-efficient building credits, to further reduce your tax liability.
Keep Updated with Tax Laws: As accounting experts, we stay informed about the latest tax laws, regulations, and court rulings to identify any new tax-saving opportunities that might benefit your real estate business.
By following these steps, ICT Lions will create a tailored and comprehensive tax plan to help you take full advantage of industry-specific tax incentives, deductions, and credits, minimizing your tax liabilities while maximizing your real estate investment returns.
