I’m writing today with an urgent request regarding Assembly Constitutional Amendment 1 (ACA 1), the proposed constitutional amendment that would make it easier to raise local taxes for anything labeled “infrastructure” and for certain public housing projects. ACA 1 is a direct attack on Proposition 13. It would change the state Constitution to cut the…
This is an urgent request for all taxpayers in Los Angeles County to call the Capitol TODAY and urge a “NO” vote on Assembly Bill 1679. AB 1679 is a gut-and-amend bill, a trick used by politicians to strip all the language out of a harmless bill and turn it into something completely different. In…
We’ve seen this before. Whenever taxpayers qualify an initiative for the statewide ballot that brings fiscal sanity to a fiscally insane California, local government interests respond with unhinged hysteria, claiming that empowering voters to approve tax and fee increases will bring about the end of Western Civilization. Well, cue the theatrics because here we are…
One of the most common questions I’m asked is if there is a way to sell an investment property, keep the money and defer taxes. If you’re like some of my clients, you’re ready to enjoy the fruits of the wealth you’ve amassed and you don’t want to pay the government a large capital gains…
As it did with citizens throughout America, the pandemic caused massive disruption to the lives of virtually every Californian. Tens of thousands lost their lives, many now have long-term health problems, and countless others lost their jobs or businesses. Moreover, the disastrous handling of the pandemic for school-aged children will likely leave a scar on an…
Owning real estate is a great way to invest your money and grow your personal wealth. Being a landlord can greatly increase your wealth, but it is also a lot of time and effort. In addition to your own finances and responsibilities, you must find tenants, obtain insurance, and pay a mortgage as well as…
Lawmakers in blue states like California may prefer to tax the rich, but there’s always a risk: What if the rich just move elsewhere? [Recently], Assemblymember Alex Lee,said he was introducing a new tax on “extreme wealth.” It wasn’t the first time the Milpitas Democrat pushed the idea. But this year, he had back up. …
In most of America, one of the worst impacts of high inflation is a sharp rise in property taxes. But that’s not the case in California. True, housing prices are some of the highest in the nation, due mostly to government policies restricting supply. But homeowners are protected by Proposition 13’s cap on annual increases…
Just weeks after Los Angeles voters backed a new measure that puts a one-time transfer tax on property sales above $5 million (to generate money for affordable housing and homelessness prevention), the city’s affluent homeowners are already exploring potential ways of avoiding the tax. Known as Measure ULA (for “United to House LA”) the ordinance…
One of the many benefits to owning rental property, and a key to running a profitable investment is the deductions. The deductions include expenses related to buying, maintaining, and managing the property. As a real estate agent, I’m not licensed to give tax or legal advice. This article is meant to be a helpful aid…