Florida Commercial Property Taxes - Amendment 10
I am new to commercial and I am interested in buying a 10-unit multifamily rental property in North Florida. I have requested pro-formas on several multifamily properties and they all contain the property taxes that the current owner is paying. I know this is wrong and I want to know what my property taxes will be. Will they be assessed at my purchase price? If so, will the assessment be exactly the purchase price or something like 90% of that?
To get LTCG treatment you need to own the asset for 366 days or longer....there are no shortcuts on this.
The answer is yes, you want all of your Dealer activities to be run through a separate entity (an S corp is ideal and will save you some on the SE tax). Let the corporation be the dealer (properties will be inventory). Hold long-term capital gain properties in a different entity (an LLC would be ideal).
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