Taxes are what you pay to the federal, state and local governments where you live. Different types of taxes include income taxes, capital gains tax, sales tax, estate tax and real estate taxes such as property tax. Learn how to bequest property and do transactions in a way that will help you pay less taxes and follow the law.
Annuity To 401(k) Question
We got a call from Vicky, whose 403(b) from an old employer was rolled over to a 401(k). She then got a 1099 for the annuity. She's wondering if that'...
Ilyce Glink on WSB Radio – December 28, 2008
This week on the Ilyce Glink Show, Ilyce talked about taxes and tax changes for 2008. She also ran down the numbers that defined 2008 economically. She took questions on how to get an income tax lien removed (taxes had been paid on time), how to prevent a bonus from being taxed at 42 percent, what to offer a new house that has been on the market for a year, how credit is affected by divorce and how to counter that, moving an annuity into a 401(k), whether now is the time to change stock market allocations, purchasing a multi-unit building as a first home, refinancing and purchasing foreclosures. For answers to these questions, listen to the show. You can download the podcast here or at iTunes.com. For show notes and updates through the week, check out her blog at www.thinkglink.com/blog . Sign up for Ilyce's free weekly newsletter on the ThinkGlink.com home page. Check out the videos at www.expertrealestatetips.net. Subscribe to her YouTube channel: www.youtube.com/expertrealestatetips and friend her to be notified about new videos.
Money Matters – How To Reach Today’s Guests – Dec. 21, 2008
You can reach Sheldon Donner and Kathie Gottlieb through their email address: dwa@dwacpa.com. Dec. 21, 2008...
Ilyce Glink on WSB Radio – December 21, 2008
Today on the Ilyce Glink Show, Ilyce talked about major stock indices and how much they've fallen this year. The Dow Jones Industrial Average fell 35 percent since last year; the S&P 500 is down 40 percent year to date; NASDAQ has fallen 41 percent; and the Russell 2000, an index of small companies, fell 37 percent year to date. The number of jobs lost from September to November was 1.25 million. Ilyce took a call from Brian who said he's having trouble selling his home and he attributes this to his real estate agent. For show notes and updates through the week, check out her blog at www.thinkglink.com/blog . Sign up for Ilyce's free weekly newsletter on the ThinkGlink.com home page. Check out the videos at www.expertrealestatetips.net. Subscribe to her YouTube channel: www.youtube.com/expertrealestatetips and friend her to be notified about new videos.
Ilyce Glink on WSB Radio – December 21, 2008
Today on Money Matters, Ilyce spoke with Sheldon Donner and Kathie Gottlieb, of Donner, Weiser and Associates PC, to provide tax guidance on what to do before the end of the year. You can reach them through their email address: dwa@dwacpa.com. You can also go online to www.MikeKavanaghFoundation.com , which is a new foundation set up in Mike's name. Currently, they're making donations to FODAC, Feed The Hungry and Clark's Christmas Kids.
Mortgage Payoff Using IRA Withdrawal
With stock values falling in 2008 some Americans may be considering doing a mortgage payoff using IRA money. Is it a good idea to pay off a mortgage with an IRA withdrawal? If you do use IRA money to pay off a mortgage don't forget to account for additional taxes. Another option if you can't pay off your mortgage is to refinance the mortgage loan.
IRS Announces Help For Homeowners In Financial Trouble
The U.S. Internal Revenue Service just announced that it will allow homeowners to apply to make their mortgage loan the primary lien against their hom...
Can Mortgage Lender Get Tax Deduction?
If you become a mortgage lender to a home buyer can you take a tax deduction? Generally no. Mortgage related tax deductions may be taken by home owners or home buyers, not home sellers or mortgage lenders. Try consulting an IRS publication or a tax advisor to find out more about mortgage lenders and tax deductions.
Mortgage Interest Tax Deduction Without Name On Mortgage
A mother-in-law passed away and her son and his wife took over the mortgage payments including mortgage interest. Can they deduct mortgage interest on their taxes even though their names are not on the mortgage? Yes, because they will use the property as a primary residence. Consult the IRS web site for more information on mortgage interest tax deductions.
IRS Announces 2009 Mileage Rates
The Internal Revenue Service announced the 2009 optional standard mileage rates for 2009, which are used to calculate deductible costs on taxes. The r...