How interesting! I have spent my entire career, between real estate and financial planning, advising people on how to arrange their affairs to legally avoid paying taxes. I’ll check out your website! We might have a lot in common!

Yes I am sure we do have a lot in common.  I’ve been a real estate investor all my life.  More than half my clients are real estate investors.  Several years ago I got involved in the TIC industry which real estate sold by stock brokers.  I guess that is the best way to put it.  From my perspective not turing out so well for most the investors.  Anyway I ended up with a lot of those.  I was so surprised a few years ago when I was at 1031 exchange conference and one of the speakers pointed out that it is pretty tough to get a 1031 to work for PA law.  It was a surprise because I knew a few of my TIC investor clients had purchased a portion of properties located in PA.  I was pretty sure and later verified that the sponsors of these investments didn’t know and didn’t tell the investors this tasty little nugget of information.  Information which when the properties are sold will cost the investors $$ in PA state taxes

This blog is a collection of questions from clients and the answers.  The goal of the blog is not to answer the questions you might have.  Most times the answers are based on each client’s personal situation.  Please do not rely on this information to make important financial and tax decisions.  The advice presented here is presented to give examples of the type of information you get as a client of a true tax professional, like Ray Simmons and the preparers he employs.  Advice regarding similar issues for you should be based on your personal situation. 

Treasury Department Circular 230 Notice. “To ensure compliance with Treasury Department Circular 230, prospective clients are hereby notified that: any discussion of Federal Tax Issues contained or referenced to in this communication is not intended or written to be used and cannot be used by the prospective client or investor for the purpose of avoiding penalties that may be imposed on them under the Code.” Such discussion is written in connection with the promotion or marketing by Ray Simmons Corporation of the transactions or matters addressed in this correspondence.


About taxdude8422

Basically I am just a tax nerd, have been all my life. However I have found the more open you are to opportunities the better off you will be in this world. That makes my what is know as an open networker on Linkedin, I will connect with anyone. I am not an expert on Linkedin by any means but one day when I was asking someone to connect I mentioned that I had just been refilled on invites. My new connect asked how I did that. I used that same line for the next month and got asked the same question four times. I started thinking there was a lot of little things it took my sometime to learn. Through this blog I plan to share some of those "Linked Secrets"
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