Patrick C. O'Connor has been president of O'Connor & Associates since 1983 and is a recipient of the prestigious MAI designation from the Appraisal Institute. He is also a registered senior property tax consultant in the state of Texas and has written numerous articles in state and national publications on reducing property taxes. He continues to set the standard in direction and quality of our appraisal products, adding services ranging from business valuations and business appraisals to cost segregation analysis for income tax reduction. , ,
Houston Retail Performance Update In the retail community, there is an ongoing discussion aboutconsumers' lack of brand and store loyalty. Chain stores longago took over the retail landscape, and the mom-and-popretailer is nearly a thing of the past. Kaplan's Ben-Hur, anindependent department store operating in Houston's Heig... Similar Editorial : by David Natenzon. | Source : Aspen Real Estate
Depreciate Property Improvements Correctly With Cost Segregation Most commercial building owners are grossly overpaying federal income taxes because they are not depreciating their property as quickly as they should. A cost segregation study allows property owners to both defer and reduce federal income taxes. When properly performed by an appraiser with expe... Similar Editorial : by Patrick O'connor, Mai. | Source : Get Real Estate License
Cost Segregation Provides Apartment Owners Tax Relief Apartment owners can face staggering expenses to maintain apartment communities. The upkeep of even a modest community could involve groundskeeping, unit renovation, and replacements, such as parking lot asphalt and fencing. Another steep expense is federal income tax - and in some areas an addi... Similar Editorial : by Kinan Beck. | Source : Get Real Estate License
Appealing Your Texas Property Taxes- The Basics Property taxes are a substantial expense for Texas homeowners, averaging about $3,600 annually. To reduce this expense, property owners should annually review and consider appealing property taxes. While there is no guarantee that an appeal will be successful, a recent survey conducted by O'Con... Similar Editorial : by Curtis Reddehase. | Source : France Luxury Property
Insurance Valuation Insurance Valuation can guarantee the property owner has adequate insurance and is not paying for excessive coverage. A property loss can be a devastating experience even when fully insured. Incurring a loss when inadequately insured can cause financial disaster. Casualty insurance costs rose sharply after hurricanes Katrina and Rita, particularly in the Gulf Coast area. Property owners are more...... Similar Editorial : by Atty. Gabriel Cosh. | Source : Insurance Company
Taxes Taxes Taxes are a levy imposed upon people or legal entities by a governmental entity. There are many forms of taxes including income taxes, property taxes, capital gains taxes, consumption taxes, excise taxes, retirement taxes, sales taxes, tariffs, toll taxes and transfer taxes. This article focuses on reducing income taxes for real estate owners.Income taxes often seemed unavoidable. However,...... Similar Editorial : by News Canada. | Source : Trust Income Tax
Harris County Appraisal District - Property Tax Protest ?Basic steps to reducing the property tax assessment set by Harris County Appraisal District include appealing both market value and unequal appraisal annually, obtaining the Harris County Appraisal District evidence, preparing for the hearing(s) and attending the informal and/or appraisal review board hearing. Few property owners are aware of the option to obtain the HCAD evidence. Sometimes...... Similar Editorial : by Preston Guyton. | Source : Trust Income Tax
Texas Property Tax Appeals Texas Property Tax AppealsSteps to Protesting and Reducing Your Property Value AnnuallyStep 1. File a ProtestTexas property tax appeals can be filed using the form provided by the appraisal district, or the form available on poconnor.com in the property tax section (see Useful Forms Forms in the left column). Otherwise send a short letter to the chief appraiser at the central appraisal district...... Similar Editorial : by Dane Smith. | Source : Trust Income Tax
Tax Reduction And Cost Segregation – Myths And Facts Tax Reduction and Cost Segregation – Myths and Facts Tax tips and tax help to assist taxpayers by describing optionsfor tax reduction and tax cuts through lawful tax deductions. Tax reduction and tax deferral are both generated by cost segregation. However, this tool is not well understood by most real estate investors and by many tax preparers. The root cause of limited understanding regarding...... Similar Editorial : by Patrick O'Connor. | Source : Trust Income Tax
Tax Deductions For Small Business Owners Tax Deductions for Small Business Owners Tax tips and tax help to assist taxpayers by describing optionsfor tax reduction and tax cuts through lawful tax deductions. Small business owners need all the tax help which is available. Tax deductions allow small business owners to keep more of what they earn. With a 35% marginal tax rate, the government is a silent partner who takes no risk and over one...... Similar Editorial : by elevatingyourbusiness. | Source : Trust Income Tax
Tax Deferral 1031 Exchanges And Cost Segregation Tax Deferral 1031 Exchanges and Cost Segregation Tax deferral through 1031 exchanges, or tax-free exchanges of real estate, have become a popular method of tax deferral of capital gains taxes. Almost by definition, individuals who utilize the 1031 exchange option are reluctant to pay taxes that can legally be avoided. 1031 exchangers have asked if they can receive tax deferrals and enhance...... Similar Editorial : by David Chazin. | Source : Trust Income Tax
Tax Deductions - A Result Of Cost Segregation Tax Reduction - a Result of Cost Segregation Tax tips and tax help to assist taxpayers by describing optionsfor tax reduction and tax cuts through lawful tax deductions. Tax reduction and tax deferral are the primary benefits of obtaining a cost segregation study. Income taxes are a substantial burden for most real estate investors. Tax deductions help with this burden. While some level of...... Similar Editorial : by Richard A. Chapo. | Source : Trust Income Tax
Estate Taxes ? Estate TaxesEstate txes are often referred to as the death tax. Few Americans are subject tp estate tas due to the exclusion on the first$2,000,000 of an estate (2006,2007, and 2008). Taxpayers with estates substantially in excess of this amount should consider planning to minimize estate taxe. For family businesses it is important to ensure adequate liquidity is available to pay estate taxes....... Similar Editorial : by News Canada. | Source : Trust Income Tax
More Tax Deduction Means Tax Reduction More tax deductions means tax reductionImportant Commentary for Owners of Real EstateBy Patrick O’Connor, MAIMost commercial real estate owners are paying excess federal income taxes because they are not depreciating their property as quickly as they should. A cost segregation study allows property owners to both defer and reduce federal income taxes. Cost segregation increases depreciation (a non...... Similar Editorial : by Patrick Oconnor. | Source : Uk Income Tax Calculator
How To Minimize The Property Tax Assessments You can minimize your property taxes with simple steps: File a protest by May 31st for market value and unequal appraisal Obtain the Harris County Appraisal District evidence?two weeks before the hearing. This information is sometimes referred to as the House Bill 201 package or the 41.461 package. It typically contains evidence regarding the subject property, market value and unequal appraisal....... Similar Editorial : by Julia Hall. | Source : Uk Income Tax Calculator
