Marina Henry-Arpe’s Post

Did you know there has been a major shift in Commercial Property Tax Law? In a nutshell, the Victorian Government is phasing out stamp duty on all commercial and industrial properties. Starting from 1 July 2024, you'll only pay stamp duty once when purchasing a commercial or industrial property. After that, subsequent sales of the property for commercial or industrial use will be stamp duty free. As a supplement, a new annual tax of 1% of the property's site value will apply starting 10 years after the initial sale. Land tax will continue to apply separately, with existing exemptions carrying over to the new property tax. Looking for further information? Read more here: https://loom.ly/UY_03q8 Or get in touch with one of our expert conveyancers today. #PBLaw #CommercialRealEstate #StampDutyReform #LegalInsights

Selling a Home with a Tax Lien: A Comprehensive Guide

For a commercial property purchase and the many outgoings you incur, there may well be tax savings available too #CommercialProperty #TaxSavings #CapitalAllowances #TaxDeductions #TaxRelief #TaxTips #PropertyInvestment #TaxStrategy #TaxPlanning #TaxAdvice #TaxConsulting #TaxServices #TaxEfficient #TaxBenefits #TaxClaims #TaxKnowledge #TaxCompliance #YesTax #PositivelyBetter https://lnkd.in/eyFsagfK

In today's challenging economic environment, reducing tax liabilities is crucial for businesses burdened by loans and other expenses. One significant area where companies often overspend is the tangible business personal property tax, which, if handled poorly, can erode profitability and shareholder value. Many organizations continue to use outdated methods like the "cost depreciated value" to report their assets, leading to overvaluation and inflated tax bills. While this method may seem simple, it often fails to consider factors that can significantly impact an asset's true value, costing companies more than necessary. However, some states, like Texas, allow businesses to file based on the "fair market value" of their assets. By adopting this evidence-based approach, organizations can save an average of 32% on their property taxes, freeing up resources to focus on growth. As we approach the new quarter, consider reassessing your tax strategies to ensure you're not leaving money on the table. Below is a a 94 second video on an evidenced based approach to BPP unique to Texas! #propertytax #texastaxes #taxadvisorsgroup

Important deadline to save your business money! Alabama Assessors will begin sending out notices of value (NOVs) for your real estate assessment in March and if you’re going to appeal, it needs to happen within 30 days after you receive the notice! This value is the basis for your property tax bill and if the estimated value is calculated wrong or unfairly, it could cost your business a lot of money! Alabama also has several property tax exemptions available for businesses: Enterprise Zone Program: Businesses located in certain economically distressed areas may be eligible for the Enterprise Zone Program, which offers a five-year exemption from property taxes. Having a Check and Balance for your Real Estate Assessment to make sure the Assessor is correct is a wise thing to do. If you need a team with expertise in Alabama who will advocate for you and ensure you are not over paying your real estate taxes, don’t hesitate to reach out!

Attention Commercial Property Owners! 🏢💰 Did you know that most commercial property owners are unaware of a powerful tax credit called Cost Segregation? This can mean a substantial addition to your bottom line or help reduce your tax liability. 💡 What is Cost Segregation? Cost Segregation is a tax strategy that allows property owners (or those leasing commercial property) to accelerate depreciation on specific components of their property, leading to significant tax savings. 🔍 Why Should You Care? • Increase Cash Flow: More money in your pocket now instead of later. • Tax Savings: Reduce your tax liability significantly. • Boost Your Bottom Line: Reinvest those savings back into your business. ❗ Important: Many CPAs do not mention this because it requires a specialized study to qualify for the credit, and most CPAs are not set up to perform this study. 💁🏾♀️ If you have commercial property with a purchase price, buildout, or remodel price of $25k or more… YES, ONLY $25k or more, let me know! I want to get you the information you need to take advantage of this tax credit NOW. At least get the info so you can get what the IRS says you should have! 💵 Comment below or message me today to learn more about how you can benefit from Cost Segregation! #TaxCredit #CostSegregation #CommercialProperty #TaxSavings #RealEstateInvesting #BusinessFinance #FinancialPlanning #yourbusinessproblemsolver #commerciallease #propertyowner

Tax implications of buying a house before selling UK click to: https://lnkd.in/ec75_ayZ Buying a house before selling an existing property in the UK can have significant tax implications. Understanding these implications is crucial to avoid unexpected costs and to ensure compliance with tax regulations. This detailed guide will cover the various tax aspects associated with such transactions, including Stamp Duty Land Tax (SDLT), Capital Gains Tax (CGT), implications for first-time buyers, and other related considerations. #tax #sellto #webuyanyhouse #sellhousefast #quickhomebuyers #sellhousequickly #property #realestate #sell #selling #housebuying

If you’re selling property used in your trade or business, you should understand the tax implications. Many rules may apply. Let’s assume you want to sell land or depreciable property used in your business and held for more than a year. Gains and losses from sales of business property are netted against each other. The net gain or loss qualifies for tax treatment as follows: 1) If the netting of gains and losses results in a net gain, long-term capital gain treatment results, subject to “recapture” rules. Long-term capital gain is generally more favorable than ordinary income. 2) If the netting of gains and losses results in a net loss, the loss is fully deductible against ordinary income. For more information, head over to our blog https://bit.ly/3zCoqKD #axleyrode #trustedadvisor #tax

If you’re selling property used in your trade or business, you should understand the tax implications. Many rules may apply. Let’s assume you want to sell land or depreciable property used in your business and held for more than a year. Gains and losses from sales of business property are netted against each other. The net gain or loss qualifies for tax treatment as follows: 1) If the netting of gains and losses results in a net gain, long-term capital gain treatment results, subject to “recapture” rules. Long-term capital gain is generally more favorable than ordinary income. 2) If the netting of gains and losses results in a net loss, the loss is fully deductible against ordinary income. For more information, head over to our blog https://bit.ly/3zCoqKD #axleyrode #trustedadvisor #tax

CGT is generally charged at a flat rate of 20% on most chargeable gains for individuals. However, if taxpayers are within the basic rate tax bracket and make a small capital gain, they may be eligible for a reduced CGT rate of 10%. Once their total taxable income and gains exceed the higher-rate threshold, the excess is taxed at the 20% rate. #CGT #Tax