Tax Implications On Home and Property Sales

Real estate is one of the most powerful investment opportunities since the asset has the ability to gain significant appreciation over time. Since selling and buying a home amounts to an income or an expense, it does have substantial tax implications that must never be ignored or underestimated.

The sale and purchase of residential or rental property has important financial repercussions as it involves accounting procedures and is directly related to taxes. Mission QuickBooks can serve all your accounting and bookkeeping needs to assist you in paying tax on rental and real estate related income. Bernard Roesch is a highly experienced business adviser with an MBA from Harvard Business School.

Our accounting services include:

  • Tax planning and advice throughout the year
  • Guiding you through preparation of tax documents and filing them
  • Examining your business’ financial reports
  • Reviewing your records to ensure they are audit-proof
  • Reviewing and explaining tax implications of selling a home

If you are contemplating buying or selling a house and need some advice, contact us today.