Taxes and real estate go together like butter and toast. Whether a client is buying or selling a home, rental property or commercial property, they need to know the tax ramifications involved. This is particularly important for high-income individuals, whose taxes have gone up over the last few years due to tax hikes enacted to help fund "Obamacare." However, unless a real estate broker or agent is a bona fide tax professional -- for example, has an MBA or other specialized training in taxation -- he or she should not give clients detailed tax advice. As a real estate professional, you are licensed to help your clients buy real estate, not serve as their professional tax adviser. If you give tax advice and it turns out to be wrong, it could cost the client a bundle of money -- ...
Dec 3, 2013 by Stephen Fishman
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