Port Charlotte Real Estate – Port Charlotte, Homes for Sale – Bank homes

 

It’s seem that Port Charlotte Real Estate – Port Charlotte, Homes for Sale – Bank homes are moving fast in the Port Charlotte area. Lately we have been getting many calls from New Jersey. Looks like this is becoming a trend in Port Charlotte. Maybe people from New Jersey see the benefits of moving to florida like lower property taxes. Real Estate home prices are near bottoming out in Port Charlotte and surrounding areas like Punta Gorda, Englewood, Rotonda, Deep Creek, Florida. Take for instances Port Charlotte FL, This is one of the most  affordable housing markets. Also waterfront homes are at an all time low in Port Charlotte. Now is your chance to own that piece of  florida real estate you’ve been dreaming of. Take a look at this Port Charlotte Real Estate deal below. Find  Port Charlotte Bank Owned Home Here.

359 Hutchins St

 

Find Port Charlotte Real EstatePort Charlotte, Homes for Sale – Bank homes
Property address
359 Hutchins St
Port Charlotte
FL 33953
Listing Detail
Asking Price $95,000
Listing Type REO / Bank Owned
Property   Family Home
42.7% Savings
Property Features
Bed Rooms 3
Bath Rooms 3.50
Square Feet 2110
Year Built 2006
Lot Size 10000 Sq.ft.
Last Transaction
Sale Amount$89,500
Sale Date09/29/2007
Tax Information
Tax Year 2010
Taxable Value $182,290
Find Port Charlotte Real Estate – Port Charlotte, Homes for Sale – Bank homes

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Why Florida and other US landlords pay more taxes on their rental income?

All over the Florida and the US landlords pay more taxes on their rental income than they have to. Why Would landlords leave money on the table? It’s simple they fail to take advantage of investment property tax savings that are tax deductions and available for rental property owners, all over Florida and the US states.



Find Great Tax Deductions for Professionals

Did you know that?
Rental real estate provides more tax benefits than almost any other investment. And often, these benefits make the difference between losing money and earning a profit on investment property.

1. Interest

Interest is often a landlord’s single biggest deductible expense. Examples of interest that can be deducted include mortgage interest payments on loans used to acquire or improve rental property, and interest on credit cards for goods or services used in a rental activity.

2. Depreciation

The actual cost of a house, apartment building, or other rental property is not fully deductible in the year in which you pay for it. Instead, landlords receive investment property tax savings through depreciation, which involves deducting a portion of the property’s cost over several years.

3. Repairs

Repair costs (ordinary, necessary, and reasonable in amount) are fully deductible in the year in which they are incurred. Good examples include repainting, fixing gutters, floors or leaks, plastering, and replacing broken windows.

4. Local Travel

Local driving is deductible when it directly relates to your rental property. Examples include driving to your rental property to handle a tenant complaint, or driving to the hardware store for repair parts.

If you drive a car, SUV, van, pickup, or panel truck for rental activity, you have two options for deducting your vehicle expenses. You can:

  • deduct your actual expenses (gasoline, upkeep, repairs, etc., ) or
  • use the standard mileage rate (see 2011 IRS rates). To qualify for this deduction you must use the standard mileage method the first year you use a car for business activity. You cannot use this rate if you have claimed accelerated depreciation deductions in prior years or have taken a Section 179 deduction for the vehicle.

5. Long Distance Travel

If your rental activity requires overnight travel, you can deduct your airfare, hotel bills, meals and other directly related expenses.

However, IRS auditors closely scrutinize deductions for overnight travel — and many taxpayers get caught claiming deductions without proper records to back them up. To stay within the law you must properly document your travel expenses.

6. Home Office

Provided you meet certain minimal requirements, landlords may deduct their home office expenses from their taxable income. This applies not only to the space devoted to office work, but also to a workshop or any other home workspace used for your rental business. Homeowners and renters can qualify for this tax savings.

7. Employees and Independent Contractors

Whenever you hire someone to perform services related to your rental activity, you can deduct their wages as an investment property expense. It can include employees such as a resident manager, or independent contractors such as repair specialists.

8. Casualty and Theft Losses

If your investment property is damaged or destroyed as a result of a sudden event like a fire or flood (a casualty loss), you may be able to obtain a tax deduction for all or part of your loss. Generally, you won’t be able to deduct the entire cost though. How much you may deduct depends upon how much of your property was destroyed and whether the loss was covered by insurance. Theft loss claims may be similarly judged.

9. Insurance

You can deduct the premiums you pay for almost any insurance for your investment property. This includes fire, theft, and flood insurance, as well as landlord liability insurance. If you have employees, you can deduct the cost of their health and workers’ compensation insurances.

10. Legal and Professional Services

Finally, you can take tax savings on fees you pay to attorneys, accountants, property management companies, real estate investment advisors, and other professionals as long as the work is related to your investment properties. These fees can be deducted as operating expenses. Find Great Tax Deductions for Professionals

–Article excerpted from “Top Ten Tax Deductions for Landlords,” by Stephen Fishman, J.D. onwww.nolo.com. Read the original article here.

Bank Owned Home/Reo, Punta Gorda, Florida 3818 WHIPPOORWILL BLVD

Great Opportunity To Own A Waterfront Bank Owned/Reo Home In Punta Gorda Isles, FL.
Special Conditions: REO/Bank Owned
Remarks : NEW BIG $14,000 price reduction ! Sailboat saltwater canal pool home with boat lift. Good condition with hurricane shutters a central vac. stone counter kitchen, high ceilings and a great room feeling in the open living area with a view of pool.

Bank Owned Home/Reo Punta Gorda Isles Call (941) 249-2366
Bank Owned Home/Reo Punta Gorda Isles Call (941) 249-2366

Address:

City: Punta Gorda, Florida
County : Charlotte County
Property Type:
Single Family House
Size:
1871 living sf
Bedrooms:
3
Bathrooms:
2
Year Built : 1986
After Repair Value: $349,500
Asking Price: $265,000
Equity: $84,500
Flexible on price?
Need Info On This Bank Owned Home? (941) 249-2366

Bank Owned Punta Gorda, FL Waterfront Homes

Bank Owned Punta Gorda, FL Waterfront Homes
601 SANTA MARGERITA LN
PUNTA GORDA, FL 33950-6614

This beautiful PGI home has 4 bedrooms 3 bathrooms, features an inground pool and a gulf access canal! Seller has installed fresh paint, cleaned carpets, repaired screens Built in 1986, this property has 2810 square feet of living area. Boat lift and wrap around dock in the canal. This is a fantastic property and is ready for it’s new owner! This is a HomePath Financing property and requires no appraisal and no MI Mortgage Insurance! More information has been left at the home for your benefit and see attached in MLS. Purchase this property for as little as 3 percent down! Approved for HomePath Mortgage Financing. This property is also approved for HomePath Renovation Mortgage Financing. Close by June 30, 2011 and request up to 3.5% of the final sales price for closing cost assistance! Ask about additional details. Eligibility restrictions apply.

City: Punta Gorda, Florida
Property Type:
Single Family House
Size:
2,810 living sf
Bedrooms:
4
Bathrooms:
3
After Repair Value: $533,000
Asking Price: $389,900
Equity: $143,100
Flexible on price?

Bank Owned Punta Gorda, FL

North Port, FL 3/2 Fence Yard $20,000 CASH

City: North Port, Florida
Property Type:
Single Family House
Size:
1,492 square ft.
Bedrooms:
3
Bathrooms:
2
After Repair Value: $60,500
Cost Of Repairs: $7,000
Asking Price (Including contracted property amount and assignment fee, if applicable): $20,000
Equity: $23,500
Flexible on price?
No

Property Details:

Exterior Features

Home, exterior appears to be in fair condition. Yard looks clean, skirting. wooden decking sits on the front of the home, fair condition. Overall exterior composition seems to be in fair shape.

Interior Features

Home interior looks decent, hard wood floors are in good shape, may need some cleaning. Kitchen is clean and includes all appliances. Both bathrooms are complete with all appliances. Bedrooms looked clean and include closet space. Hot water Tank was found intact.

Enquire about this property or call: (941) 628-3891