Has anyone here heard of the "GO Zone"? It is being called one of the best tax break ever. People on this board are well-known to be very knowledgeable. I would like to know you guys' opinion. It will be greatly appreciated.
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Last edited by RightOn; 11-01-2007, 05:38 PM. -
Gulf Opportunity Zone
Taxpayers located in the areas affected by Hurricane Katrina and to a lesser degree Wilma and Rita have a variety of tax breaks. There is something for most taxpayers. Consult IRS Pub 4492 for complete details.In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
Alexis de Tocqueville -
Suppose you invest in a Go Zone rental property and the investment is $100,000,Originally posted by DaveO View Post
In the first year, you will get 50% bonus depreciation which is 50,000 plus the regular depreciation. Supposed the regular depreciation is 3,000, the total depreciation expense that you can claim in the first year is 53,000. Is it correct?Comment
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