California LLC owners: your $800 tax and Form 568 are due April 15, 2026. Avoid penalties and stay compliant—especially if you own real estate in Newport Beach or Costa Mesa.
Category
Taxes and Property Taxes (Proposition 13, 60, 90, 58, 193 and Proposition 19)
2026 IRS Gift & Estate Tax Rules: $15 Million Lifetime Exclusion Is Here — What Newport Beach Homeowners Need to Know Now
The rules have changed—and high-value real estate owners should pay attention.
With the new $15 million federal gift and estate tax exclusion for 2026, families owning coastal California real estate now have unprecedented flexibility in estate and tax planning. Here’s what this means for Newport Beach and Orange County property owners.
2025–2026 California Property Tax Bills Are Out! Don’t Miss Your Deadlines (The County Will NOT Remind You!)
Property tax season is here again! Orange County has released the 2025–2026 secured property tax bills, and homeowners in Newport Beach, Costa Mesa, and the surrounding coastal communities should review their bills now. The County won’t remind you if you miss a payment, and penalties can be steep—especially on high-value homes. Here’s what you need to know about deadlines, online payments, and why December 10 and April 10 are the real dates that matter.
All-Cash? All Eyes on You: What the New 2026 FinCEN Rule Means for Real Estate in Newport Beach & Beyond
Starting March 1, 2026, the U.S. Treasury’s new FinCEN Residential Real Estate Reporting Rule will require escrow and title companies to collect and report detailed information on all-cash purchases by trusts and LLCs. Here’s what Newport Beach and Costa Mesa buyers and sellers need to know—and why expert guidance is essential.
The So-Called “Mansion Tax” — How It Negatively Impacts Real Estate
Los Angeles’ so-called “Mansion Tax” isn’t just a L.A. problem—it’s a warning shot for property owners across Orange County. Branded as a luxury tax, Measure ULA has stalled high-value transactions, slashed property tax revenues, and deterred housing development. As similar ideas loom statewide, Newport Beach and Costa Mesa property owners, investors, and trustees need to stay informed—and protected.
Why You Shouldn’t Leave a Deceased Parent’s Home in Their Trust to “Avoid” Property Tax Reassessment
Thinking of keeping a deceased parent’s home in their trust to “avoid” reassessment? Don’t do it. This common myth can lead to massive tax bills, penalties, title issues, and even trustee liability. At Lucas Real Estate Group, we help clients across Newport Beach, Costa Mesa, and Orange County navigate property transfers, Proposition 19, and trust administration — the right way.
What the 2025 Federal Tax Reform Means for Homeowners (aka The Big Beautiful Bill’s Impact on Real Estate)
The 2025 federal tax reform delivers major wins for homeowners, investors, and business owners — from increased SALT deductions and permanent mortgage interest deductions to restored bonus depreciation and preserved 1031 exchanges. But despite these changes, key homeowner benefits like the capital gains exclusion remain unchanged since 1997, fueling ongoing calls for reform. At Lucas Real Estate Group, we break down what this means for Newport Beach, Costa Mesa, and coastal Orange County property owners.
Opportunity Zones Explained: How to Defer and Potentially Eliminate Capital Gains Taxes in Real Estate
The federal Opportunity Zone program offers one of the most compelling tax incentives for real estate investors and individuals with capital gains. By reinvesting gains into a Qualified Opportunity Fund (QOF), you may defer—and potentially eliminate—federal capital gains taxes while investing in long-term real estate or business projects. Learn how the program works, what qualifies, and why now may be the right time to take advantage.
Bonus Depreciation and Real Estate: What Newport Beach, Costa Mesa, and Orange County Property Owners Need to Know (2025 Edition)
2025 Bonus Depreciation Is Fading Fast—Here’s What Real Estate Investors Need to Know
Bonus depreciation has been a powerful tool for reducing real estate tax liability, but it’s phasing out—with only 40% allowed in 2025 and 0% by 2027 unless Congress acts. Learn how investors in Newport Beach, Costa Mesa, and Orange County can still use bonus depreciation for property improvements and short-lived assets—before it’s too late. Timing is everything.
Can I Sell My House To My Child (Or Anyone) Below Fair Market Value? / Can I Do A Gift Of Equity?
Can I Sell My House to My Child Below Fair Market Value?
Yes — and in fact, many families are doing exactly that using a strategy called a gift of equity. This powerful estate planning tool allows parents to sell a home to a child at a discounted price, gifting the difference — often with no immediate tax consequences. But there are critical rules to follow regarding IRS gift limits, capital gains, property tax reassessment under Prop 19, and proper loan structuring if financing is involved.
Whether you’re in Newport Beach, Costa Mesa, or anywhere in coastal Orange County, this guide breaks down everything you need to know — including real-world examples, IRS rules, and expert insights from Lucas Real Estate.
