Converting a multi-family property into condominiums can be very profitable for investors. Understanding the process is essential to a successful conversion. The Massachusetts Condominium Act outlines the requirements for condo conversions in this state. There are additional state and local laws as well. Below is a brief overview of the
As we covered in our previous article, 1031 Exchange is an important program that allows property owners to defer paying capital gains taxes when selling one investment property to buy another. In Massachusetts, vacation homes are popular along the Cape and other seaside communities. Do vacation homes qualify for 1031
A 1031 exchange can save you significant money by deferring capital gains taxes on investment properties. When you sell one property, you would normally pay taxes on your gain from that sale. However, if you use the funds gained to purchase another property (essentially exchanging one property for another), you
The tax reform bill, titled the Tax Cuts and Jobs Act, has passed through Congress and is therefore on its way to the President’s desk. There have been many discussions about how the bill will negatively impact the average homeowner. However, investment property owners benefit from the tax reform bill
Martino Law Group offers legal representation and counsel for clients in Eastern Massachusetts including the North Shore, Greater Boston, and Metrowest Communities. Our primary service areas include Melrose, Wakefield, Reading, Lynnfield, Medford, and Winchester Massachusetts.
