Do you own a vacant lot or some unproductive land that you plan to sell for a profit?
Sounds good … but when it comes to your taxes you’ll have to make some important decisions. Like exactly what you can write off as itemized deductions or capitalize by making a formal “election.”
But don’t be put off by all this complexity. We’ll make everything crystal clear when you read my new article titled Tax Tips: Tax Tips for Vacant Lot and Unproductive Land.
Three ways our fact-filled article can help you:
- We’ll explain the right way to deduct your costs. Thinking about deducting the costs of insurance, taxes, and mortgage payments? We’ll tell you three things to consider before you do. Don’t miss the important information waiting for you when you read the full article.
- We’ll tell you proven ways to slash your tax bill. In fact, we’ll provide you with five completely legal strategies that will keep you and Uncle Sam happy. You’ll find all five explained when you read the full article.
- You’ll learn the benefits of capitalizing your costs. This can be a great way to go, but to do so don’t forget that you have to elect capitalization in your tax return every year. (We’ll provide language you can use when you file your election with the IRS!) You’ll get all the details when you read the full article.