Law Office of Ryan S. Shipp, PLLC

May 2017 Archives

Commercial real estate buying slower

Florida residents may know that real estate investment has slowed to a crawl in many parts of the country. This is true even as a real estate developer was elected president in November 2016. In New York City, sales fell to $4.3 billion, which is a 58 percent decrease from the same period in 2016. Sales dropped by 18 percent overall in the United States during that time period.

Standard allowance increase could cut home prices

A part of the Trump tax reform plan aimed at simplifying the Internal Reveneu Code may save millions of households money on their returns, but it has also engendered sharp criticism. At stake is the home mortgage interest deduction, which causes millions of homeowners to itemize their taxes each year for savings beyond the standard deduction. By raising the standard deduction, many will no longer need to itemize to receive the same refund.

Commercial properties offer investors a number of benefits

Real estate investors in Florida and around the country often begin by purchasing single-family residences, but many of them soon switch their focus to commercial properties like stores, offices, restaurants and warehouses. Commercial real estate generally provides higher yields, has less demanding tenants and is not as risky as residential property speculation. For landlords, the difference between commercial and residential property investing can be significant.

How to transfer property

Florida residents may have heard of the term "conveyancing". It means that real property is being transferred from one party to another. An attorney will work to create documents that make the property transfer official. Legal counsel will usually take steps such as determining what type of documents are most appropriate for a given transfer, who must sign the documents and how new owners will hold the property.

Choosing the right structure for your small business

Starting a small business in Florida is an important and exciting step for any entrepreneur, but you would be wise to move carefully and cautiously through the initial phases of this process. Having the right legal structure in place is not only smart, it can help you avoid complications and issues in the future.

How to lower tax assessment values

Florida residents may not agree with the tax assessment that was just done on their homes. However, a homeowner is allowed to contest the assessment in hopes of reducing their property tax bill. This may be done by arguing that their home is worth less because of a pest infestation or because of some other factor that should bring its assessed value down.

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