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Tax

Jan. 27, 2010

Tax Rules to Know When Selling Property

Robert Wood of Wood & Porter discusses methods by which tax can be deferred or eliminated when contemplating sale of property.

Robert W. Wood

Managing Partner
Wood LLP

333 Sacramento St
San Francisco , California 94111-3601

Phone: (415) 834-0113

Fax: (415) 789-4540

Email: wood@WoodLLP.com

Univ of Chicago Law School

www.woodLLP.com

Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.

See more...


You may never sell your property, but if you do, odds are you'll have taxes to pay. After all, the real estate market is supposedly coming back. Usually, the longer you hold property, the bigger your gain. The good news is that usually the gain will be capital, meaning a federal tax rate of only 15 percent. But California's tax rates aren't as forgiving, so you'll pay up to a whooping 9.55 percent (in some cases, even 10.55 percent) to the Golden State. Tha...

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