Nov
1
The Internal Revenue Services, many years ago, added to its code a provision for property sellers to defer capital gains tax by using the proceeds of the sale for the purchase of a similar property. In order to qualify for those tax benefits, however, all of these transactions must be handled by a Qualified Intermediary (QI), or exchange accommodator. The 1031 exchange accomodator, in addition to other things, is responsible for serving as the third party who holds the funds from the sale.There are dozens of accommodators serving clients around the country. Often these companies are a part of a larger title insurance company, but in any case, you should look for their experience and background in this particularly obscure part of tax and real estate law.
Mar
22
Pretty much everything that the government does with taxes is public information, and Federal Tax Lien Records are no exception. Anyone who has a lien placed on their home due to owing taxes, has their name placed in a database as well as their property information, how much they owe, etc. This information can come in handy for those of you who want to see if any homes in an area that you are interested in are going to be seized any time soon. This is an inexpensive way to get a new home, especially if you don’t mind being patient and keeping your options open.
Sep
9
Benefits of Setting up a Charitable Trust when you are Still Alive
Filed Under Finance :: Tax | Leave a Comment
Most people who want to set up a charitable trust will consider it to function in such a way that the benefits are passed on to the trust when they have passed away. However, there are definite benefits to set up charitable trusts when still alive and let the benefits pass on to the beneficiary. Tax advantage is an important benefit, because you can write off the asset. Also, in most of these trusts, the asset will come back to your survivors after you are gone. Hence, the asset remains within the family and still you get benefits of the charity as long as you are alive.
Jun
22
Thinking About Government Tax Liens
Filed Under Finance :: Tax | Leave a Comment
government tax liens are another nasty government invention, designed to collect debts it believes you owe. If you have a different opinion, well, I hope you can afford a good lawyer.
Best educate yourself thoroughly about County Tax Lien, as things can get messy really quickly if you make the wrong choices.
Try to negotiate with whoever is handling your case. Most any government debt can be settled for less.
Ok - that’s it for today.
Jun
21
If you’re looking for up-to-date information about Filing Taxes, Tax Extensions, or Tax Advisors… Then this is going to be the most interesting message you’ve read this month. Know why? Because you’ve just stumbled upon the very best site about Filing Taxes on the Web. The name of the site is IRSPenaltiesReport.com. And, here’s the great part… Not only will you learn more about Filing Taxes, but you’ll also discover more about the entire fascinating topic of IRS Penalties. Just Click Here: filing taxes and irs penalties
Jun
6
federal tax liens are another nasty government invention, designed to collect debts it believes you owe. If you have a different opinion, well, I hope you can afford a good lawyer.
Find out all you can about Federal Tax Liens online and from you lawyer or tax advisor before you do anything. Bad decisions can have big consequences here.
Always stand up for your rights. There’s no use in letting them walk all over you.
Ok - that’s it for today.
Mar
27
Government Tax Liens
Filed Under Finance :: Tax | Leave a Comment
government tax liens are yet another in a long list of things the government does to bully its own citizens around. Passed off as a simple debt collection mechanism, the trouble comes when the government makes a mistake, as it so often does, and the sheriff breaks down your door to collect property for settlement of a debt you don’t even owe.
Best educate yourself about Government Tax Liens as quickly and thoroughly as possible if you find yourself in this situation. Information is key.
Try to negotiate with whoever is handling your case. Most any government debt can be settled for less.
Dec
11
Consultants Impact Savings
Filed Under Finance :: Tax | Leave a Comment
We hired a property tax consultant so we can get proper advice on property taxes. I was thinking I could save a lot of money or even possibly claim tax abatement. The firm own vast properties that even small percentages of savings would have significant impact on our financial status. I did some research work to find out who is best suitable for the job as property tax consultant. My search narrowed down to a handful of people, each of them presented their profile. I picked the one who had work on companies similar to us.