Tax Shelter
Investments, usually in limited partnership, that can protect of defer shelter) part of the income from current taxes. Under current law, passive leases can be applied up to passive income. Typically, a large amount of capital along with a significant amount of debt is needed. Allowable deductions are typically allowed only to the amount at-risk. A tax shelter is advantageous by the taxpayers in high tax brackets so they can take losses from it to reduce their taxable income. A number of real estate tax shelter exist. there is a penalty of 1% of the total amount invested for the failure to register a tax shelter. The failure to report a tax shelter identification number has a penalty of %250. Penalties for "abusive" shelters may be staggering. Tax shelters have been significantly restricted in recent years.
Popular Real Estate Terms
Latin for by itself. A per se matter is one that is alone and not connected to another matter. For example, age, per se, is not a determinant of health. ...
Obligation requiring payments of interest and principal at periodic dates, usually monthly. Interest equals the balance of the loan at the beginning of the period multiplied by the interest ...
Same as term landlocked: Parcel of land that is totally surrounded by other land parcels not providing access to a highway. ...
Apartment building in which each resident owns a percentage share of the corporation that owns the building. ...
Owner of land allowing another to use space under the ground, such as to install a sewer or gas line. ...
Large room at the entrance to a building designed for people to converse or move about freely. ...
Losses arising from damage to or destruction of property. ...
(1) Cash revenue from product sales or services rendered less cash expenses. It is different from accrual earnings. (2) The money available after deducting operating expenses and mortgage ...
Cubic unit of measure for a board one-foot long, one-foot wide and one inch thick, or 144 cubic inches. These measurements are not actual, since they are stated prior to finishing and ...
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