13 January 2024 | 356 replies
Tax Cuts and Jobs Act of 2017, enacted Dec. 22, suspends from 2018 until 2026 the deduction for interest paid on home equity loans and lines of credit, unless they are used to buy, build or substantially improve the taxpayer’s home that secures the loan.So yes you can still take it as a deduction as long as it qualifies.
19 April 2016 | 8 replies
There is a special 2-year rule for the sale of a primary residence that could exclude up to $250K in profit per taxpayer from capital gains taxes.Just because you are in the 10% marginal tax bracket does not mean that all of your income is taxed at 10%.
18 September 2018 | 16 replies
My monthly property tax payment will go from $218/mo to $627/mo; clearly this will negate my anticipated positive cash flow.I'm looking for opinions on what to do in this situation.
29 January 2010 | 10 replies
From the tax payer's standpoint, shortsales are best and I therefore promote and believe it shortsales, it is at least an attempt by the homeowner to come clean.
8 September 2014 | 4 replies
When a qualifying principal residence is sold, up to $250K capital gain per taxpayer that is due to appreciation can be excluded from taxation.
17 October 2024 | 5 replies
., Each of those LLCs are different tax payers owning different properties.
18 June 2024 | 9 replies
Document your hours using a log.There are court cases of taxpayers not having a log and their position was thrown out resulting in added taxes, penalties and interest.
4 March 2018 | 30 replies
Verified by the USPS as vacant and comes with county tax payer information and tax billing address.
20 July 2024 | 8 replies
Those laws are there because we as tax payers are insuring the loan.
11 July 2024 | 6 replies
The Seller is not interested if there is immediate tax payment.