Author "patrick" Page

Author Nick: patrick
Name: Patrick Oconnor
Site: http://www.poconnor.com
About Author: 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 a 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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Tax Reduction Affected by Cost Segregation

Tax reduction is just one of the benefits of cost segregation. Many real estate owners and tax preparers believe cost segregation simply defers payment of taxes. While they recognize it effectively generates an interest-free loan from the government, they do not understand it also provides tax reductions in most cases.
For most real estate owners (corporations [...]

Tax Deferral or Tax Reduction – Cost Segregation

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. The consequences of this incorrect information is unfortunate [...]

Use the Appraisal District’s Information to Reduce Your Property Taxes

Homeowners are amazed to learn they can obtain a copy of the appraisal district’s evidence at a nominal cost. This is referred to as a House Bill 201 package, and is the only information many homeowners use to successfully reduce their property taxes.
Obtaining a House Bill 201 package when appealing your property taxes can greatly [...]

Information for the Apartment Application

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The apartment management will require you to complete an application. You’ll need information regarding where you have lived, your income and perhaps personal references.
Prepare a summary of information regarding where you have lived for the last five years. You’ll also want information regarding the dates you [...]

Business Purchase Price Allocation

Business purchase price allocation is necessary following the purchase or sale of a business. The purchaser needs to allocate the total purchase price to establish their books for the purpose of calculating amortization and depreciation. The seller needs to allocate the price to calculate their taxable income and taxes. Assets can include business enterprise value, [...]

Casuality Loss Hurricane

Silver Lining from Hurricane Ike
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.
Meaningful DeductionsSome taxpayers will be able to completely eliminate their [...]

Feasibility Studies

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. They are also performed to evaluate the feasibility of renovating or upgrading an existing property. Feasibility studies determine whether a property is financially feasible and whether its complete and stabilized [...]

Houston Apartment Search Tips — Getting the Best Deal

Houston apartments are expensive. But getting a great deal can make your Houston apartment less expensive. This article provides tips on getting the best deal possible when leasing a Houston apartment.
What Do You Want
A great deal for a Houston apartment varies from person to person.
1. Do you want the lowest possible price for [...]

Property Tax Myth: It’s not worth the Trouble to Appeal

Time spent protesting your property taxes can be very profitable to you. In fact, the average property tax savings for homeowners is $450. However, the uncertainty of how the process works and what results are achievable intimidates many into not attempting to protest their property taxes.
The following steps will provide you insight [...]

Highest and Best Use Analysis

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.
If in a metropolitan area, highest and best use can be a combination of uses including [...]