Paying IRS Back Taxes
You cannot quit claim the deed to your house instead of paying back taxes. You must sell your property, then the IRS will take what it is owed on your taxes.
By Ilyce Glink| 2017-08-23T13:35:47-05:00 May 21st, 2007|
You cannot quit claim the deed to your house instead of paying back taxes. You must sell your property, then the IRS will take what it is owed on your taxes.
By GlinkAndTamkin| 2007-05-15T00:00:00-05:00 May 15th, 2007|
An LLC is a distinct type of entity that is neither a partnership nor a corporation. Instead, and LLC is a company structure that allows owners to have limited liability in case the company has difficulties. Unlike a corporation, an LLC does not have shareholders, but rather it has members.
By Ilyce Glink| 2020-01-23T11:55:10-06:00 May 12th, 2007|
If homeowners don't pay your real estate taxes, the tax collector can seize your house and sell it for the back taxes that are owed. In most places, the taxes have to have been unpaid for at least a year or two and the homeowner has the right to catch up on the taxes by paying the interest that has accumulated plus any penalties or fees. The catch is, there is a period of time where the homeowner has the right to catch up with the back taxes payments and pay you back your investment plus interest.
By Ilyce Glink| 2007-04-13T12:00:00-05:00 April 13th, 2007|
Real Estate Minute with Ilyce Glink Can’t get it all done? Everyone is entitled to get an extension on their taxes. Original Air Date: April 13, 2007
By Ilyce Glink| 2007-04-10T12:00:00-05:00 April 10th, 2007|
Real Estate Minute with Ilyce Glink Avoid Making Basic Tax Mistakes Original Air Date: April 10, 2007
By Ilyce Glink| 2017-08-23T13:36:08-05:00 January 17th, 2007|
When a federal tax lien gets filed against you, your credit score will fall. What can you do to rebuild your credit score after you've paid off the tax lien? Paying your bills on time, not carrying a credit card balance and not closing old lines of credit all help boost your credit score.
By Ilyce Glink| 2006-11-27T00:00:00-06:00 November 27th, 2006|
Ilyce reviews J.K. Lasser's Your Income Tax 2007. Although nothing much changed for homeowners and home sellers this year, it's worth going over the tax basics for those who made a move in 2006. If you're not sure what applies to you, talk to your accountant or tax preparer.
By Ilyce Glink| 2017-08-17T10:42:38-05:00 November 12th, 2006|
Selling your home may seem like the solution when you're underwater on your debt, but not every lender will do a short sale. A short sale will also result in the IRS considering the amount forgiven by the lender as phantom income -- meaning you could face a huge tax bill the following year for the difference in the short sale.
By Ilyce Glink| 2017-06-20T14:44:58-05:00 October 14th, 2006|
Real Estate Minute with Ilyce Glink Think About US Taxes When Living Abroad Original Air Date:
By Ilyce Glink| 2006-09-28T00:00:00-05:00 September 28th, 2006|
When you're getting ready to buy a home you need to take your income into account and also whether you itemize your tax deductions. The majority of Americans do not itemize on their taxes and so they don't benefit from the mortgage interest tax deduction. Learn how the mortgage interest tax deduction works and who benefits most from this tax break.