lisacs_IHB
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Hurricanes Katrina, Rita and Wilma that hit the U.S. in the summer of 2005 were considered the most devastating natural disasters our country has faced. These catastrophes had an enormous impact on the affected regions? economies. In response, the US government passed HR 4440. HR 4440, otherwise known as the Golf Opportunity Zone ("GO Zone") Act of 2005 offers large tax benefits for properties built and placed into service in the GO Zone region after the hurricanes. These tax incentives sanctioned by the US government make real estate investing in the GO Zone very attractive.
CPAs and serious investors can learn how to attain positive cash flow and learn about this opportunity by attending a live webinar with Fred Solomon.
Solomon Financial Mortgage, which sponsors ?The Solomon FREE Money Hour? a real estate investment talk radio show on 97.1 FREE FM, has partnered with three developers in Biloxi and surrounding areas, to make available to you these GO Zone tax incentives.
Fred Solomon says ?people should consult with their CPAs and figure out whether they qualify for the tax incentives the GO Zone is offering. There are many people who do qualify for these significant tax savings and may not even know it."
The most significant tax incentive is the 50% Bonus Depreciation allowed on newly constructed real estate in the GO Zone in the year of purchase. Real estate investors who qualify could receive a $70,000 tax deduction on a $165,000 purchase. People who would qualify for this tax deductions are as follows:
1. Real estate investors who have taxable income from other real estate they own
2. People who work 750 hours/year in a qualified real estate trade or business such as: a licensed real estate agent, mortgage loan officer, real estate attorney, building inspector, processor at a mortgage company, a property manager (please consult with your CPA to determine if you work in a qualified real estate trade or business).
3. A family or Individual who makes less than $100k/year
THIS IS WHERE YOU INCORPORATE THE SPREADSHEETS - ALSO, SHOW HOW THE TAX SAVINGS OFFSET THE DOWN PAYMENT MAKING THE INITIAL INVESTMENT NEARLY $0.
Your tax savings can be recovered immediately by reducing your estimated tax payments or W-2 withholdings in the year of purchase.
Biloxi is being projected to be the number one emerging and appreciating market over the next 5-10 years.
There are plans for 22 casinos. There are already 11 operating casinos, including the Hard Rock and the Beau Rivage Hotel and Casino. Each casino brings in 2,200 new jobs.
65,000 homes were destroyed in the hurricane. 101,000 people are in FEMA trailers in the State of Mississippi. There is an immediate need for housing.
Being a real estate investor himself, once Fred Solomon, Jr. heard about this 50% bonus depreciation he called his own CPA and asked him if this tax benefit was true.
?Once I confirmed that it in fact it was true, I analyzed the numbers and the demographics. I did my own due diligence by researching and flying down to the area to establish which city would have the best population growth inside of the GO Zone,? reports Fred Solomon, Jr. ?When I heard about all the casinos being built and re-built over land instead of water the rest was history. We started showing this opportunity to our family, clients and listeners of our radio talk show. Kerri Kasem and Lisa Solomon, co-hosts on our talk show, visited the Biloxi area and had the opportunity to meet with local residents and politicians, including the Mayor of Biloxi, Mississippi (include first name) Halloway. All of us are buying properties in this area.?
?The Bonus Depreciation can create a net operating loss that you can carry back 2 years to file for a refund of taxes paid or you can carry the loss forward 20 years to reduce your future income taxes. We have never seen anything like it. Those who qualify for this 50% bonus depreciation write-off by investing in this opportunity can take advantage of the positive cash flow these properties offer on a 30 year fixed mortgage, where the rate and payment will never change,? Fred further explains.
To determine if you qualify for the GO Zone incentives and to get a free copy of the Tax Code and The 12 Reasons to Invest in Solomon Financial?s GO Zone Opportunity, simply e-mail gozone@sfmdirect.com or visit www.freemoneyhour.com and click on OUT OF STATE INVESTING. CPAs and serious investors can learn how to attain positive cash flow and learn about this opportunity by attending a live webinar with Fred Solomon. Go to www.freemoneyhour.com to register or call (800) 811-7709 for more information. As heard on news radio and The Solomon FREE Money Hour Talk Show you can listen by tuning into 97.1 on your FM dial in LA and surrounding areas or on the web 971freefm.com every Saturday, 4 pm PST.
CPAs and serious investors can learn how to attain positive cash flow and learn about this opportunity by attending a live webinar with Fred Solomon.
Solomon Financial Mortgage, which sponsors ?The Solomon FREE Money Hour? a real estate investment talk radio show on 97.1 FREE FM, has partnered with three developers in Biloxi and surrounding areas, to make available to you these GO Zone tax incentives.
Fred Solomon says ?people should consult with their CPAs and figure out whether they qualify for the tax incentives the GO Zone is offering. There are many people who do qualify for these significant tax savings and may not even know it."
The most significant tax incentive is the 50% Bonus Depreciation allowed on newly constructed real estate in the GO Zone in the year of purchase. Real estate investors who qualify could receive a $70,000 tax deduction on a $165,000 purchase. People who would qualify for this tax deductions are as follows:
1. Real estate investors who have taxable income from other real estate they own
2. People who work 750 hours/year in a qualified real estate trade or business such as: a licensed real estate agent, mortgage loan officer, real estate attorney, building inspector, processor at a mortgage company, a property manager (please consult with your CPA to determine if you work in a qualified real estate trade or business).
3. A family or Individual who makes less than $100k/year
THIS IS WHERE YOU INCORPORATE THE SPREADSHEETS - ALSO, SHOW HOW THE TAX SAVINGS OFFSET THE DOWN PAYMENT MAKING THE INITIAL INVESTMENT NEARLY $0.
Your tax savings can be recovered immediately by reducing your estimated tax payments or W-2 withholdings in the year of purchase.
Biloxi is being projected to be the number one emerging and appreciating market over the next 5-10 years.
There are plans for 22 casinos. There are already 11 operating casinos, including the Hard Rock and the Beau Rivage Hotel and Casino. Each casino brings in 2,200 new jobs.
65,000 homes were destroyed in the hurricane. 101,000 people are in FEMA trailers in the State of Mississippi. There is an immediate need for housing.
Being a real estate investor himself, once Fred Solomon, Jr. heard about this 50% bonus depreciation he called his own CPA and asked him if this tax benefit was true.
?Once I confirmed that it in fact it was true, I analyzed the numbers and the demographics. I did my own due diligence by researching and flying down to the area to establish which city would have the best population growth inside of the GO Zone,? reports Fred Solomon, Jr. ?When I heard about all the casinos being built and re-built over land instead of water the rest was history. We started showing this opportunity to our family, clients and listeners of our radio talk show. Kerri Kasem and Lisa Solomon, co-hosts on our talk show, visited the Biloxi area and had the opportunity to meet with local residents and politicians, including the Mayor of Biloxi, Mississippi (include first name) Halloway. All of us are buying properties in this area.?
?The Bonus Depreciation can create a net operating loss that you can carry back 2 years to file for a refund of taxes paid or you can carry the loss forward 20 years to reduce your future income taxes. We have never seen anything like it. Those who qualify for this 50% bonus depreciation write-off by investing in this opportunity can take advantage of the positive cash flow these properties offer on a 30 year fixed mortgage, where the rate and payment will never change,? Fred further explains.
To determine if you qualify for the GO Zone incentives and to get a free copy of the Tax Code and The 12 Reasons to Invest in Solomon Financial?s GO Zone Opportunity, simply e-mail gozone@sfmdirect.com or visit www.freemoneyhour.com and click on OUT OF STATE INVESTING. CPAs and serious investors can learn how to attain positive cash flow and learn about this opportunity by attending a live webinar with Fred Solomon. Go to www.freemoneyhour.com to register or call (800) 811-7709 for more information. As heard on news radio and The Solomon FREE Money Hour Talk Show you can listen by tuning into 97.1 on your FM dial in LA and surrounding areas or on the web 971freefm.com every Saturday, 4 pm PST.
