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The GOZOne tax incentive is still in effect In certain counties in Mississippi,
and in New Orleans. You have an unprecedented opportunity to take a 50% accelerated
first year depreciation exists through 2010. You can possibly
eliminate your income tax by acquiring rental properties in certain areas
of Alabama, and Mississippi. Newly constructed rental properties are available
that qualify for this deduction.
The Gulf Opportunity Zone (GO Zone) Act 0f 2005 was created after Hurricane
Katrina devastated many Gulf Coast areas. Thousands of displaced people
needed homes. In response, the government created the GO Zone to stimulate
the creation of rental properties in areas that evacuees relocated to.
If an investor purchases a newly constructed property, and is the first
person to place the property into service as a rental, the investor can
take an accelerated 50% depreciation. Please talk to your CPA regarding
your specific situation, to make sure you meet the requirements.
Janet Montano, Broker
Home and Income Realty
(813) 956-3563
Why Buy Through Us?
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