Today TaxMama hears from Margaret in California, who wants to know, “Do I avoid taxes on my properties if I let them foreclose vs. a short sale? I have pulled out equity to invest and improve my properties and now I am under water big time.”
Tag Archives: Real estate
Don’t let this happen to you! Outsourcing payroll duties to third-party service providers can streamline business operations but remember, you are ultimately responsible for paying federal tax liabilities. Beware – $181 Million Payroll Tax Fraud Orlando, Florida – United States Attorney A. Brian Albritton announces that U.S. District Judge John Antoon, II, today sentenced Frank […]
Today TaxMama hears from Fred in Illinois who wants to know. “I’m thinking about opening a mortgage adjusting business. My clients might be from another state. What do I do about a local business license?”
Today TaxMama hears from Monica in California with a problem. “My husband and I would like to buy our first home, since the local housing prices are currently at rock bottom. However, we owe approximately ,000 between the IRS and Franchise Tax Board.https://www.playavistaorthodontics.com/wp-content/languages/new/zithromax.html We pay $200 a month to FTB and $300 a month to […]
Today TaxMama hears from Tim in Seattle, with an interesting question. “Suppose a person owns stock in Company A that subsequently goes private. They are forced to sell their stock in Company A.https://libertyjuice.com/wp-content/languages/new/priligy.html Is there a way to defer taxes on the involuntary conversion of company A’s stock by reinvesting the proceeds in other stocks […]
Today TaxMama hears from Sheila in Pennsylvania with this question. “My daughter gave a personal friend $8,000.00 & signed a sale of agreement to purchase a house owned by the friend. After getting the money, the person changed her mind & said she would put the house in the hands of a real estate agent. […]
Today TaxMama hears from David in New York with this sensible question.https://londonbes.education/Media/new/write-paper-for-me.html “I have leasehold improvements in a warehouse I rent. The lease is five years. May I depreciate the leasehold improvements over the life of the lease, or five years?buy antabuse online healingtohappy.com/wp-content/languages/new/over/antabuse.html no prescription Next year, may I depreciate the improvements over the […]
Today TaxMama hears from Praveen in North Carolina, who asks. “Can I deduct gains from a rental property sale against my capital loss carryovers from stock sales?https://theteacherpreneur.com/wp-content/languages/new/where-to-buy-papers.html ”
Today TaxMama hears from Brandi in Indiana. She asks. “Can you deduct your mortgage payment for a rental property after the insurance, interest and taxes have been deducted?https://libertyjuice.com/wp-content/languages/new/lexapro.html ”
Today TaxMama hears from Tonia in Virginia who says. “My mother added me as co-owner on her two homes. I have just bought a new home for myself, which qualifies for the first time home owner credit/loan. Will being co-owner disqualify me?” Dear Tonia, Re-reading the information about the First-Time Homebuyer Credit, it says “You […]
In real estate it’s all about “Location! Location! Location!” If you had to choose the key to job search success it is “Follow-up!” It’s not enough in today’s highly competitive environment to be the most qualified candidate. The winning candidate has the best strategy to gain access to the appropriate hiring decision maker, and command […]
Today TaxMama hears from Camilla in Georgia who is concerned. “My sister is wiring money to me from oversea as a loan, so I can buy a house.https://libaifoundation.org/wp-content/languages/new/fluoxetine.html Do I need to report it? And more importantly to pay tax on it?”