Posts tagged "Income taxes"

Yep, High Taxes Drive People Away

Yep, High Taxes Drive People Away
I ran across a great blog post on the BiggerPockets Web site that is well worth the read: New Data Shows Americans Fleeing High-Tax States. In case you are not familiar with BiggerPockets it’s a community for real estate investors and they are interested in topics like this because it has implications for where to... Read more »

3 Tips To Mitigate Capital Gains on Real Estate Sales

3 Tips To Mitigate Capital Gains on Real Estate Sales
This guest post was written by Jackson Cooper, an investment real estate & finance enthusiast, involved with the experts at  American Society For Asset Protection.  The average long-term capital gains tax rate in the United States is 28.6%, when you combine federal, state and local taxes, according to the Tax Foundation. That’s sixth highest among... Read more »

Short Sale Tax Relief For 2014 Just In The Nick Of Time

Short Sale Tax Relief For 2014 Just In The Nick Of Time
As I pointed out in November, the income tax laws essentially dictate that short sellers pay income tax on phantom income when they sell their home: 4 Really Crazy Homeowner Tax Laws. As you might imagine paying a short sale tax would be devastating for someone who just lost their home along with their down... Read more »
Advertisement:

Mortgage Forgiveness Debt Relief Act Saved In Fiscal Cliff Deal

Mortgage Forgiveness Debt Relief Act Saved In Fiscal Cliff Deal
Best I can tell the Mortgage Forgiveness Debt Relief Act, which prevents underwater homeowners from having to pay income tax on the phantom income generated when their mortgage lender forgives a portion of their mortgage, was extended as part of the fiscal cliff deal that was approved by the house of representatives last night. Originally,... Read more »

Mortgage Forgiveness Debt Relief Act Not Likely To Fall Off Fiscal Cliff

Mortgage Forgiveness Debt Relief Act Not Likely To Fall Off Fiscal Cliff
Back in September I warned about the impending doom awaiting unsuspecting short sellers if they didn’t complete their short sales by the end of the year because the Mortgage Forgiveness Debt Relief Act is set to expire at the end of the year along with many other tax preferences. It’s all part of the fiscal... Read more »