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Patrick Oconnor Articles

Guest post by: Patrick Oconnor

Cost Segregation - Tax Deductions(Business Taxes) - Click To Read Article
Business taxes can be summarized simply as calculating your total revenue, reducing this amount by as many tax deductions as you can and then paying tax on the remaining amount.

Market Rent Analysis - Click To Read Article
Market rent analyses evaluate the subject property, competing properties, and market conditions to document an equitable level of rent in an arm’s length transaction. Estimates of market rent are developed regularly for market studies, appraisals, lease disputes, and to provide an owner or prospective investor with objective opinions.

Leasing Office Space – Part 15 of 23 Lease Negotiations - Click To Read Article
Tenants are generally provided time to prepare the office space for occupancy prior to the date when they must begin paying rent. However, in hot markets and for some very desirable properties or spaces, landlords will be able to require that tenants pay for office space beginning at the time the lease is executed.

Tax Reductions and the IRS Position on Cost Segregation - Click To Read Article
Tax reductions and tax deductions are a common benefit of cost segregation. When real estate investors and tax practitioners learn about the income tax deductions and tax reductions resulting from cost segregation they are sometimes skeptical; they are concerned it is a tax shelter or tax scheme. This simply is not true. Cost Segregation provides a legitimate tax reduction.

Appealing Your Property Taxes in District Court - Click To Read Article
If you disagree with the appraisal district's value or any action of the appraisal district about your property, the Texas Property Tax Code (TPTC) provides several options to appeal your property taxes.

Houston Apartment Search Tips - How to Find Low Cost Move in Apartment - Click To Read Article
Houston apartments come in many shapes and sizes. You can usually find a Houston apartment with a very low total move-in cost. Total move-in cost includes the application fee, deposit, and first month's rent.

Commercial Real Estate Appraisal Sales Comparison Approach - Click To Read Article
The sales comparison approach is the most intuitive and best understood of the three approaches to value. Home buyers, companies renting office space and real estate investors all utilize this approach.

Tips on Market Value Appeal - Click To Read Article
The countdown to May 31 - the last day Texas homeowners can submit an appeal to protest their property taxes - is growing closer by the minute.

Casualty Losses - Click To Read Article
Hurricane Ike inflicted a steep penalty on the Texas Gulf coast. However, there is an inconspicuous benefit – casualty loss tax deductions. Taxpayers may be able to take a 2008 deduction if either personal or business property was damaged by Hurricane Ike.

Real Estate Feasibility Studies - Click To Read Article
Feasibility studies are a combination of a market study and financial analysis used to determine if it is financially feasible to develop a proposed property.

Low Income Housing Tax Credit - Click To Read Article
Low Income Housing Tax Credit (LIHTC or Housing Tax Credit) program has been made a permanent element of chapter 42 of the Federal Income Tax Code.

Utilize the Online Apartment Search Service to Identify 5 to 20 Apartment Projects - Click To Read Article
At this point you have identified your budget, location and the unit type, unit size, unit amenities and property amenities you are seeking.

Highest and Best Use Analysis - Click To Read Article
Highest and best use analysis can assist an owner in maximizing return. Highest and best use analysis can be performed for acreage, site development, and for improved properties. Research and planning can substantially increase investment returns.

Tax Reductions through Cost Segregation - Click To Read Article
Tax reductions and tax deductions are both benefits of cost segregation. However, it would be inaccurate to term cost segregation a tax shelter.

Evaluation of Restaurants - Click To Read Article
Many restaurant owners have been shocked to learn that they are unable to sell or lease their restaurant property for an amount equal to its tax assessment value. The market value of a recently built restaurant is usually less than its construction cost.

Disabled Veteran Tax Exemptions in Texas - Click To Read Article
In Texas a disabled veteran's tax exemption is not the same as a disabled person's tax exemption.

Tax Deferral or Tax Reduction – Cost Segregation - Click To Read Article
Tax deferral is a key benefit of cost segregation; however, a popular misconception about cost segregation is it is just used for tax deferral, it does not reduce taxes. The tax deferral and tax reduction issue is misunderstood both by sophisticated real estate investors and tax professionals.

Over 65 Exemption Portability - Click To Read Article
Thousands of homeowners take advantage of the Over 65 exemption allowed by the Texas Property Tax Code. After years of working and paying taxes, it's about time you get a break, right?

Appealing Your Property Taxes - Click To Read Article
Thousands of Texas homeowners will go through the property tax appeal process this year because the appraisal district incorrectly assessed their home's value. Sometimes getting a satisfactory reduction takes some time, but it is important to utilize the options available until you are offered a fair reduction.

Leasing Office Space – Funding Tenant Improvements - Click To Read Article
The landlord is usually willing to fund tenant improvement expenditures provided he is confident the tenant has the financial capacity to pay rent for the term of the lease. For large companies with strong balance sheets, landlords will generally spend as much as is requested on tenant improvements.

Cost Segregation - Tax Deductions - Click To Read Article
Taxes are your enemy, but tax deductions are your friends. Taxes are the great bane of most businesses. Unfortunately, business deductions act as a salve to cool the burning and itching of your bank account.

Tips & Tricks for Appealing Property Taxes - Click To Read Article
Although 75% of property tax appeals are successful, the owners save an average $ 450, only 7% of homeowners appeal each year. Research shows five main reasons homeowners do not appeal

Leasing Retail Space - Preparing Your Space - Click To Read Article
Tenants are generally provided time to prepare the retail space for occupancy prior to the date when they must begin paying rent. However, in hot markets and for some very desirable properties or spaces, landlords will be able to require that tenants pay for retail space beginning at the time the lease is executed.

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About the Author: Patrick Oconnor
RSS for Patrick's articles - Visit Patrick's website

O’Connor & Associates is a national provider of commercial real estate consulting services including cost segregation services, federal tax reduction, due diligence, renovation upgrading cost analyses, tax return review and apartment inspections.

Patrick C. O'Connor has been president of O'Connor & Associates since 1983 and is a recipient of the prestigious MAI designation from the Appraisal Institute. He is also an registered senior property tax consultant in the state of Texas and has written numerous articles in state and national publications on reducing property taxes. He continues to set the standard in direction and quality of our appraisal products, adding services ranging from business valuations and business appraisals to cost segregation analysis for income tax reduction.

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Click here to visit Patrick's website
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More from Patrick Oconnor
Evaluation of Restaurants
Over 65 Exemption Portability
Commercial Real Estate Appraisal Sales Comparison Approach
Real Estate Feasibility Studies
Highest and Best Use Analysis


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