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How Can I Defer Capital Gains Taxes?

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The Impact of Capital Gains Taxes

When you sell Real Estate, the gain you realize on the sale may be subject to Capital Gains Taxes. Based on whether the sale involves your primary residence, investment property or inherited home, different tax laws come in to play. It is critical that you consult a trusted Tax Advisor to ensure you understand of the impact of Capital Gains taxes. In partnership with your Tax Advisor, through a Real Estate Plan, we can assist with employing strategies to minimize or eliminate Capital Gains taxes enabling you to pass more wealth to future generations.

Importance of Understanding Cost Basis

The amount of Capital Gain or Loss, and the tax associated, is calculated based on the Cost Basis of the sold property.

Therefore it is important to consult with your Tax Advisor to ensure you understand your cost basis and potential tax implications prior to selling.

Stepped Up Vs. Carry Over Basis

Cost Basis may be stepped up, as in the case of death of the property owner, or carried over.

In partnership with your trusted Tax Advisor, and with proper planning, we can employ strategies to minimize the impacts of Capital Gains Taxes and meet the objectives of the family.

"A Real Estate Planner is a licensed real estate agent who is certified and has the knowledge, training and experience to compassionately guide a real estate owner in ways to create generational wealth, minimize taxes and facilitate goals of the family."

Minimize Capital Gains Taxes

When you sell real estate, the sale may be subject to taxes based on the gain in value of the property. The gain in value is classified as a capital gain and the potential tax associated with that gain is referred to as a capital gains tax. Capital Gains taxes can be one of the largest obstacles to building generational wealth. Understanding Cost Basis is a critical component of minimizing capital gains taxes. Through a real estate plan we look to employ strategies to minimize or even eliminate capitals gains taxes, enabling families to pass more wealth to future generations.

"A Real Estate Plan begins with a Simple Strategy Session to understand your family's goals"

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Investment Properties

When considering Capital Gains Taxes for investment properties, Executing a 1031 exchange may enable you to defer some all of the capital gains taxes associated with the sale of a relinquished property.

A 1031 Exchange allows investors to sell one or more investment properties and buy one or more "like-kind" properties that better meet their investing objectives. Understanding the opportunities a 1031 exchange presents and the strict rules around executing an exchange are keys to avoiding an unexpected tax bill.

Collaboration with Financial Advisors, CPAs and Trust Attorneys

We work with your team of trusted advisors to ensure the plan you decide on meets all aspects of your financial and real estate goals.

A Real Estate Plan begins with a simple Strategy Session to discuss your family's goals.

*Please Consult a trusted Tax Advisor for guidance.

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Why Trust Kelly Johnston?

Do you already know a Real Estate Agent? The answer for most people is Yes. Often there is a family member or close friend who has a real estate license, or even someone you have used in the past.

What we often see is people focusing on the current need to buy or sell their home, and missing out on how the purchase or sale fits into their long-term real estate goals and reacting later in life.

As a Keller Williams (KW) Real Estate planner, our approach to real estate is a bit different. While a Real Estate Agent will focus on the finishing the current transaction a Real Estate Planner helps ensure your current purchase or sale and future decisions you make throughout your lifetime help to achieve your long-term real estate goals.

You will be amazed how a conversation with a KW Certified Real Estate Planner can effect your ability to Build, Protect and Transfer Wealth through real estate.