Taxpayer asks:
I would like to ask some tax related questions related to selling a house outside of the USA.
We sold a house in Hungary, with all taxes paid there.There is documentation to prove this. Would there be a tax liability in the USA if the money from this sale would be brought into […]
Taxpayer asks:
I thought the Postal Service’s “forever stamp” was a great idea. I stocked up on forever stamps at 41 cents each right before the new postage rate went up to 42 cents. Now I have a dilemma. Since these forever stamps with a basis of 41 cents are now worth 42 […]
Taxpayer asks:
This is my situation. In 2007, I sold a bunch of stock my grandpa gave me, and had a gain of roughly $8,000. I had my regular income at around $50,000, and $6,583 was withheld. I did not make any estimated tax payments throughout the year. I owed $1,271 in […]
So following up on yesterday’s post about the proposed tax relief for debt cancellation related to foreclosures, I wonder, “Is it fair?”
Today’s Fix the Tax Code Friday question is:
Should Congress offer tax relief to those who are affected by the housing market (those in foreclosure)? Should Congress offset the lost revenue by limiting capital […]
The House Ways and Means Committee has voted to permanently remove the income tax consequences for homeowners whose debt is partially forgiven by a lender after a foreclosure. The bill is likely to pass the House and Senate, and President Bush has already spoken publicly about his approval of the measure.
Great. Now homeowners […]
But not many… in the Ways and Means Committee.
The Business Journal of Phoenix (how’s that for a source?) is reporting that U.S. Rep. Harry Mitchell, a Democrat of Arizona, is introducing a bill to keep federal capital-gains taxes permanently at 15 percent and to make recent cuts to federal estate taxes permanent. The Democratic Representative […]
I listed my house for sale this week (yes, you can expect lots of home-related posts in the next few weeks). While we expect to benefit from a boost in the market since the time we bought our house, we aren’t going to make the kinds of crazy profits that you’ve been hearing about […]
Taxpayer asks:I sold a primary residence last yr and bought a new one. I did not gross over $250,000 on the sale of the house. What figures should I pay attention to for reporting purposes from the closing sheets? I presume that any taxes paid out prior to the sale of the house are on […]
tax news, tax info and tax policy - and it’s not as boring as you think!
Written by Kelly Phillips Erb [email] for b5media.
Behind The Buzz
Biz Chicks Rule
Biz Levity
Brandcurve
Business & Blogging
Buzz Networker
Contract Worker
Copyblogger
Daily Blender
Doing Biz Abroad
E-shop Owner
Everyday Networker
Franchise Pick
Greener Assets
Health Care Insiders
Home Biz Notes
Interview Chatter
Just Make Money Online
Leadership Turn
LifeDev
My Organized Biz
One Vote Matters
Pimp Your Work
Project Management 411
Property Crossroads
Slacker Manager
Small Business Boomers
Startup Spark
Successful Blog
Talk Stock Trading
Taxgirl
The 501(c) Files
The Golden Pencil
Work Boxers
Yielding Wealth
Recent Comments