Practical and Understandable Tax Advice About Real Estate
Reviewer: Fletcher Majors from Wetumpka, AL USA
This 3rd edition of Vern Hoven's book is an excellent reference for real estate brokers and agents. I have given it as a Christmas present to all my agents. I have also alerted a client to a potential tax problem his CPA overlooked, but I recognized as a result of reading this book.
I have used this tax guide as the main reference in writing a continuing education course on the subject of IRS section 1031 tax deferred exchanges. Vern does the most thorough job of covering this subject that I have read.
Vern covers the timing and consequence of most real estate transactions. He also covers personal tax consequences, such as office-in-home rules, which apply to real estate agents.
I recommend this book highly in all the real estate courses I teach and sometimes use it as a prize in classroom games. Whether you are a real estate investor or agent you should read this book and keep it near your desk.