Many homeowners either plea for help or speak against the increasing tax rates. But, not all find a solution.  A property tax bill is something that drops in your inbox every year and many pay the bill as it is without raising a question or without even understanding how the numbers arrived. Just because it is a printed sheet of information that comes from the county appraisal district doesn’t mean you will have to pay the entire amount as it is. As a taxpayer in Texas, it’s your right to protest and appeal your property taxes. If you do not agree with the value determined by the appraisal district you have every right to protest. Right on your money Property taxes are some of the biggest expenses for many homeowners and knowing how property taxes are calculated is very important. Here is the formula used Property taxes = (Assessor’s value... Read More

Every real estate investor focuses on reducing his/her tax liability and tries to take advantage of the tax strategies available. But, not all are aware of cost segregation. Cost segregation is an IRS defined approach for reducing your taxable income. It identifies and depreciates the components of a real estate property at an accelerated rate. When a cost segregation study (CSS) is carried out properly, it can increase your cash flow and reduce the tax liability. Understanding depreciation You must have come across the word depreciation, it is nothing but deducting the loss from the value of the asset. This loss is usually because of wear and tear. But, when it comes to real estate properties, they are depreciated over a period of time and this differs based on the property type. Residential properties are usually depreciated over 27.5 years and commercial properties over a 39 year period. Many property... Read More

People are trying to save more dollars rather than spending them. Are you looking for dollar saving ideas in rental investment? Then there are tax deductions available for rental property investors! Property taxes won’t be a burden anymore when you are completely involved with better tax strategies. You can be a passive investor or a pro in handling rental investments. Tips to follow Before the year ends, here are some quick tips which you can follow for property tax reduction. Any investor can benefit from these proactive tips to reduce property taxes higher than the previous year. Repairs for property tax reduction Most rental property owners believe that any repair or maintenance they do for their property is considered a deductible expense. Anything that is done in the name of repair, helps to maintain the property in good condition. You have to classify your repairs and maintenance to deduct them... Read More

Business owners must be quite familiar with the term business personal property tax (BPP). But did you know you can reduce your personal property taxes that you are paying now! In this article, you will get to know, in detail, what business personal property tax is, if you are responsible to pay it, and how you can reduce them. What is business personal property tax? What is the first thing that pops up in your mind? Is it the building or land you own? Yes, but it’s not just that. Business personal property taxes cover other items your business owns like tangible personal property such as furniture, machinery, supplies, telephone, etc. As these items are used by a business for its operation, the local governments impose a property tax on them similar to taxes imposed on land or buildings. Differentiating the taxable and non-taxable  When it comes to calculating BPP,... Read More

It was in the mid of March, that we started accepting the new normal of covid-19. From the very beginning of the quarantine, the real estate market was into a storm of highs and lows. Though the work-from-home policies of various companies succeeded with their workflow, this has emptied most of the commercial properties and retail properties which made a huge impact in 2020. This has affected the property taxes and many people to aid their operating expenses.  What is external obsolescence? External obsolescence is a form of depreciation that is caused by external factors and not by the property. It is completely caused by natural disasters or something that is not related to the property. The depreciation caused by this external obsolescence has nothing to do with the property itself. In this case, depreciation has happened because of the pandemic. The pandemic just stopped people from commuting but the... Read More