Found 2 blog entries tagged as tax.

Understanding 1031 Tax-Deferred Exchanges in Orange Beach, Alabama and Along the Gulf Coast

Introduction to 1031 Exchanges


In the dynamic real estate landscape of Orange Beach, Alabama, and across the Gulf Coast, savvy investors often employ strategies to maximize their returns and minimize tax liabilities. One such strategy is the 1031 tax-deferred exchange, which can be an effective tool for those looking to reinvest proceeds from real estate sales without immediate tax burdens.

1031 tax deferred exchanges orange beach alabama

What is a 1031 Exchange?
Under Internal Revenue Code Section 1031, a tax-deferred exchange allows investors to postpone paying capital gains taxes on an investment property when it is sold, as long as another similar property is purchased with the profit gained by the…

50 Views, 0 Comments

Read Full Post

Lodging Tax in Gulf shores, Orange Beach and Foley, Alabama

Baldwin County Alabama Lodging Tax


Did you know that lodging tax plays a crucial role in your short-term rental business?   It is essential to understand that as a business in the hospitality industry, you serve as an agent for the city by collecting and remitting taxes from your rental customers. However, for short-term rentals, it's important to note that if you use a management company, you must ensure they are collecting and remitting taxes on your behalf.

The Alabama Department of Revenue administers the collection of a tax that is referred to as "Baldwin County Lodging Tax" in certain areas within Baldwin County. The collections of said tax are designated for a public corporation known as The Alabama Gulf Coast…

189 Views, 0 Comments

Read Full Post