Even after weathering four hurricanes this season, south Florida is still considered some of the most desirable real estate in the country, and Naples is considered the crown jewel, say local Realtors.
Not all real estate investors are created equal in the eyes of the IRS, which means not all tax planning will work for everyone. The IRS classifies real estate investors into four separate categories. What works for real estate investors won"t work for dealers or developers and may or may not work for professionals. You need to know where you fit to maximize your tax savings and minimize tax issues. You may even find that you fit in more than one place!