If you are currently in the process of a 1031 Exchange, please take note! The normal 180 day exchange period will shorten between October 19th and December 31. You must file for an extension on or before the deadline of April 15, 2016. The IRS website can help guide you through the extension process and the three different options for filing. Make sure to always consult with a tax professional should you have any questions or concerns.
For Homeowners on Maui and Hawaii counties, the deadline to file for home exemption is December 31. If you miss the deadline you will have to wait until the next fiscal year to file. More information and forms can be found on County websites. For Maui, Real Property Tax Division and for Hawaii, Real Property Tax Division.
With the year-end scramble upon us right after the holiday season, it’s no surprise that many people feel stressed and unorganized. The start of a new year is a great time to get organized, tidy up paperwork, and start preparation for tax season. Need help getting started? Trulia has a great checklist for the 12 Things You Must Do Before The Years Over. Great ideas for both homeowners, renters, and just those looking for organizational tips.
The Hansen Ohana hopes your holiday season has been a safe and happy one!
Yes it’s that time again. Tax season. For many this time of year can be quiet stressful. It’s always best to get advice from a tax professional should you have questions regarding your returns and filing. Different forms and deadlines may apply to those doing a 1031 Exchange. Make sure you are in compliance and filing the correct forms. You can find more information here courtesy of OREXO.
Hawaii Real Estate Blog 