Investors find relief from like-kind limbo
There is now relief for property owners who couldn't complete a like-kind exchange because their qualified intermediary entered into bankruptcy or receivership. You may now use a special safe harbor method to report gain or loss, and the IRS won’t treat you as being in receipt of the exchange proceeds. Old concept still works: Manage by walking around In 1982, Tom Peters and Robert Waterman published an acclaimed business book called "In Search of Excellence." They espoused a practice of “management by walking around” as a way to achieve excellence. They were on to something then, and the lesson still applies today. Property improvements can save you taxes When selling investment property, sometimes major expenditures, such as a new roof, an addition or remodeling can result in a quicker sale – perhaps at a higher selling price. On the other hand, if you don’t expect the market to yield a price sufficient to recover the additional investment, you may be tempted to forgo the additional cost. But that decision could prove to be shortsighted. Keep in mind that the tax law may act to soften the blow of your pre-sale expenditures.
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