Video: Mike Gracik on the Complicated Tax Code Impacting the Real Estate Sector

Posted on 04.15.13

In this issue of the Business Mondays video, Mike Gracik of Keiter talks with Renee Fisher of VACO about what it's like to work at the largest accounting firm in Richmond. He explains that the tax code for real estate and investment clients has become “a real mess,” and without proper planning clients could take a bigger hit than they need to. For instance, the fact that the 3.8% surtax on net investment income also applies to income from real estate - and capital gains from the sale of real estate - took many people by surprise. Mike shares how clients can put a plan in place to minimize this and other tax increases, such as a one-time-only chance in 2013 for investors to restructure holdings.   View Video: http://youtu.be/eweiSVUf140

The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.

Posted by: Michael Gracik, Jr., CPA

As Managing Partner of Keiter, Mike oversees the Firm’s strategic plan and growth initiatives. Mike works closely with his clients to identify tax planning and savings opportunities specific to their business and industry. His clients include closely-held businesses in the real estate, home building, manufacturing, construction, retail and wholesale industries. He also serves many estates, trusts and foundations. Read more of Mike’s insights on our blog.