Revitalizing the Go Zone |
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Revitalizing the Go Zone |
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Need $10's or $100's of Thousand
Dollars Of Depreciation Losses To Offset Income?
As a real estate professional, you have some unique opportunities to purchase properties in the Go Zone and use bonus depreciation losses to offset your current ACTIVE income. Let's see an example. Without Go Zone Purchase Taxable Income:
$200,000
Tax On Income:
$46,591
** Assumptions: Married filing jointly, 2005 tax
tables.
With $250,000 Go Zone Purchase Taxable Income:
$200,000
Bonus Depr. Loss:
$112,500
Tax On Income:
$15,211
Net Tax
Savings:
$31,380
** Assumptions: Married filing jointly, 2005
tax tables, 10% Land Basis.
Clearly this illustrates some the potential benefits of purchasing properties in the Go Zone for real estate professionals. The Above Example Is Simply For Illustrative Purposes Only & Is Not Intended As Tax Or Investment Advice. Please Consult Your Tax Advisor About Your Specific Situation.
If You Wish To Explore More, Here Are The Steps
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