April 2014

Its safe to say that Austin’s real estate market is hot right now.  As a result, investors are jumping into the market to not only take advantage of Austin’s increasing property values but its rental rates as well.  Fortunately for real estate investors, US tax law provides investors with the ability to reduce their gross rental income tax liability.  Specifically, the owner of a rental property can deduct the money they spend on their rental property’s mortgage interest, maintenance, and repairs (to name a few) from the property’s gross rental income before calculating taxable income.  As a result, the property owner’s tax liability can be greatly reduced.  

It is important to note that when analyzing investment properties, careful consideration and

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Owning residential rental properties can be a great way to generate income and accumulate wealth.  However, if you don’t know your tax status you may be costing yourself thousands of dollars in the form of tax deductions.  Specifically, a property owner’s tax status will determine whether (and to what extent) their rental property’s expenses can be deducted.  As a result, determining whether a property owner’s tax status qualifies as an investor or business owner is really important.

As a general statement, a residential rental property owner can qualify as a “business owner” if they operate their rental property(s) to earn a profit and work with their rental properties regularly, systematically and continuously.  Conversely, a rental property owner

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Its been famously said that April Showers bring May Flowers.  However, to avoid the taxman from raining on your parade, eligible Texas property owners should timely file for their Homestead Tax Exemption.  After all, the only thing sweeter than the smell of roses come May is the smell of hundreds or even thousands of dollars in property tax savings. 

As a general rule under the Texas Tax Code, the purchaser of a property is eligible to file for a Homestead Exemption when the property is utilized as their primary residence.  However, the property owner must generally file their application for Homestead Exemption between January 1 and April 30th of the year for which the tax exemption is being requested.  With April 30th just around the corner, eligible

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Pop Star Selena Gomez is famous for many things; however, one thing she may not enjoy as a result of her fame is her stalker.  While most people may believe that stalkers only impact the lives of celebrities, this couldn’t be further from the truth.  In reality, stalkers impact the lives of Texans everyday.   As a result, the Texas Property Code allows for a tenant to vacate their lease and avoid liability when the tenant is the victim of certain sex offenses or stalking.

Specifically under chapter 92 of the Texas Property Code, a victim or qualifying relative of a victim has the right to terminate their lease, vacate the property and avoid liability for future rent or other sums due as a result of their termination when the qualifying assault occurred…

 

How can I even start to explain this extraordinarily talented young man? Ari Gootnick is from Los Angeles California and is currently a sophomore here at the University of Texas in Austin. When I asked him to tell me a little bit about himself he replied “All I really got to say is that I try to think outside the box. Sometimes the little ideas can be the biggest.” Ari is the co-founder and creator of a new App called GreekLink. GreekLink is a free mobile app that organizes fraternity and sorority social life.  With this app students on campus can connect with one another with the ability to post upcoming events and greek life calendars. For example, if the ZBT fraternity was going to have a philanthropy event at their house they could post the event

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