contact us

Use the form on the right to contact us.

You can edit the text in this area, and change where the contact form on the right submits to, by entering edit mode using the modes on the bottom right.

         

123 Street Avenue, City Town, 99999

(123) 555-6789

email@address.com

 

You can set your address, phone number, email and site description in the settings tab.
Link to read me page with more information.

Esquire Real Estate Blog

Praesent commodo cursus magna, vel scelerisque nisl consectetur et. Curabitur blandit tempus porttitor. Fusce dapibus, tellus ac cursus commodo, tortor mauris condimentum nibh, ut fermentum massa justo sit amet risus. Cras mattis consectetur purus sit amet fermentum. Cras mattis consectetur purus sit amet fermentum.

 

Bryan Zuetel, Esq. quoted in National Realtor Magazine Article

Bryan Zuetel

realtor_magazine_article.jpg

Bryan weighs in on the issue of disclosures during a real estate sale. He is quoted in the article:

“If you suspect your client is either unaware of property issues or being less than forthcoming about them, and you want to ensure more transparency in the transaction, you could disclose your observations of the property’s condition to the buyer and encourage them to seek further professional advice,” says Bryan Zuetel, a real estate attorney and broker-owner of Esquire Real Estate Inc., in Irvine, Calif. “For instance, an agent might smell a moldy scent in the basement and see what looks like mold, but the agent is not qualified—nor required to—conclude that there is mold in the basement,” Zuetel says. “The agent could simply disclose a ‘moldy scent’ or a ‘moldy appearance’ in the basement, and advise all parties to engage the proper professionals for further evaluation. Whether a seller acknowledges the issue is not relevant to the agent’s duty to disclose.”

- Bryan Zuetel, Esq.

Here is a link to the recent National Association of Realtors® Official Magazine article.

Use it or lose it...

Bryan Zuetel

use_it.jpg

As the year comes to a close, so does the deadline for many real estate tax deductions and savings.  If you own investment real estate, take some time to consider these opportunities before the end of the year.  Of course, like any tax advice, your individual and unique circumstances will differ from others, so consult your tax professional for personalized advice.

Delay rent payments: It is usually advisable to delay rental payments until at least January 1 of the following year.  So, if you have a tenant who routinely pays rent before the first day of the month, consider asking the tenant to delay the payment until at least January 1.  That way, the income will be reported and taxable in the following year.

Pay expenses early: The recent Tax Cuts and Jobs Act placed many restrictions on tax deductions related to your primary residence.  However, these restrictions did not affect tax deductions for your investment properties. So, if you have bills due in early January for your investment property, consider paying your mortgage, insurance, property taxes, repair contractors, utilities, and other recurring bills before the end of the year.  That way, the expenses will be reported and applied against your income this year.

Qualify as a real estate professional: This is not an action item that you can complete before the end of the year.  But, if you get to tax time and find out from your tax professional that you are not qualified as a real estate professional, consider completing this step.  Briefly, the IRS generally considers your income and losses on investment real estate to be passive. You cannot deduct your passive losses against your wages or self-employment income, which are considered non-passive income.  However, if you or your spouse “actively participated” in passive rental real estate activity and qualify as a real estate professional, you may be able to deduct passive losses against your non-passive income. You must materially participate in the real estate activities and qualify as a real estate professional based on a few specific formulas from the IRS.  Consider discussing this topic further with your real estate professional. The opportunity to apply passive losses to non-passive income can represent significant tax savings for some taxpayers.

If you have questions about your specific tax situation and investment real estate, contact Esquire Real Estate today before time runs out.

Maximizing Your 2018 Real Estate Deductions

Bryan Zuetel

nov_2018.jpg

Now is the time to consider your 2018 real estate tax deductions. As the year is coming to a close, you can best finalize your real estate related expenditures.  Have you made the necessary tax preparations for the end of the year?  How are your investment properties?  The Tax Cuts and Jobs Act passed at the end of 2017 brought many tax code changes, including some that affect your real estate.

Section 179 deduction: Non-residential real property placed in service this year may benefit from the expanded definition of Section 179 property.  That section allows the taxpayer to include certain interior property improvements to take 100% of those improvements as a depreciation deduction.  Qualified property is property placed in service during 2018 and used predominantly (more than 50%) in your trade or business. 

SALT deduction limit: After the Tax Cuts Act, state and local property taxes are generally capped at a maximum $10,000 deduction.  In California, this will probably leave some of your property taxes and state income taxes as non-deductible.  Note that this deduction limitation only applies to property taxes for a primary or secondary residence, not an investment property (where mortgage interest and property taxes remain fully deductible).  California taxpayers and property owners should anticipate this tax change and plan accordingly with additional, available deductions.

Qualified business income deduction: Taxpayers with qualified business income (which should include rental income) may be eligible to take a tax deduction of up to 20% of the qualified business income from a pass-through business entity (sole proprietorships, LLC’s, and S-corporations).  Generally, the taxpayer will be able to capture a full 20% deduction on rental income, subject to certain restrictions for higher income levels.  This deduction is complicated and has many variables for deductibility. 

Need a real estate tax professional? We can refer you to professionals that specialize in real estate tax. Need a real estate attorney to draft your documents before the year end? Contact us, and we can help. Want to sell your investment property or second home within the United States? WE DO THAT!

Bryan Zuetel, Esq. in recent Realtor.com Article

Bryan Zuetel

California Real Estate Law doesn’t demand that buyers and sellers of real estate have a legal professional, namely a real estate attorney overseeing the mounds of legal documentation. Unlike California, many conservative states do require a real estate attorney to oversee the contractual agreements. Imagine how many law suits could be avoided if a licensed real estate attorney oversaw the whole legal transaction.

At Esquire Real Estate, this is what we do. Our standard of ethics and client protection goes above and beyond to our clients’ best interest. When our clients succeed in their real estate matters, so do we.

Considering a real estate sale or purchase? Give us a call.

2018 CA Real Estate Voting Guide

Bryan Zuetel

2018_vote.jpg

On Tuesday, November 6, 2018, Californians have the opportunity to vote on two real estate related propositions.  Proposition 5 allows seniors, disabled persons, and victims of natural disasters to transfer some of their property tax basis to the purchase of a new home.  Proposition 10 would repeal the current law, which limits local governments’ ability to pass rent control ordinances.

Proposition 5: Currently, many seniors live in homes that are too large or too far from families and want to downsize or move closer to families.  However, seniors are often restricted from doing so by the threat of doubling or tripling their property taxes upon the purchase of a new home.  Seniors can currently transfer their property tax base within and to a small number of California’s 58 counties. Subject to certain adjustments, Proposition 5 would allow seniors to transfer their current property tax base to the purchase of another home in any of California’s 58 counties.  This proposition will provide benefits to seniors, the disabled, and disaster victims by allowing them the flexibility to move to a more suitable home without facing a massive property tax bill. This proposition will also help to boost the housing inventory in neighborhoods when older homeowners move from their single family homes that no longer meet their needs.  I encourage you to vote YES on Proposition 5.

Proposition 10: Currently, the long standing Costa-Hawkins Rental Housing Act restricts local governments from imposing most forms of rent control.  Proposition 10 would repeal this Act and would thus allow local governments to impose most forms of rent control. Multiple studies have shown that rent control drives up rents, discourages new construction, reduces the availability of affordable and middle-class housing, and results in existing rental units being taken off the market reducing the availability of rental housing.  The repeal of Costa-Hawkins could even allow local governments to dictate rental rates and terms for privately owned single-family homes and when a private owner may take a home off the rental market. I encourage you to vote NO on Proposition 10.

In short, I urge you to vote YES on Proposition 5 and NO on Proposition 10.