By law, the dollar amounts for a variety of tax provisions, affecting virtually every taxpayer, must be revised each year to keep pace with inflation. New dollar amounts affecting 2012 returns, filed by most taxpayers in early 2013, include the following…

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Help with a down payment With most lenders requiring borrowers to put down at least 20 percent as a down payment – unless using an FHA or VA loan, or purchasing mortgage insurance – the best holiday gift some people might receive would be help with a down payment on a house.

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The FairTax ensures that everyone earning above the poverty level would pay federal taxes. Loopholes would not exist and Social Security and Medicare funding would be ensured.

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APRIL 15 IS TAX DAY. I am not a single issue voter. I’m a registered Independent at the DMV. I am not prepared to give an unfair and growing amount of my earnings to the Federal Government. I want to put the IRS out of business with THE FAIR TAX!
Let’s get HR 25, S 296 respectfully called upon by the Ways and Means Committee to conduct a fair, open public hearing, allotting 50% of the time each to the proponents and opponents on or about Tax Day April 15, 2010, and then send H. R. 25 to a vote of the entire House of Representatives.

Filed under: Commentary, Current Events, Economy, Petition, Tax Issues, VRN | 1 Comment »

IRS issues new guidelines on obtaining home buyer tax credits The Internal Revenue Service (IRS) recently issued new guidelines and clarified documentation that taxpayers must submit to successfully obtain the federal tax credit for home buyers. MAKING SENSE OF THE STORY FOR CONSUMERS The federal tax credit for home buyers was extended and expanded late [...]

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With all the rules now available, here’s the action message to potential tax-credit seekers: Speed up your search for the house you want to buy. Get moving. There are only 14 weeks to sign a contract and just five months to go to closing.

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The law that allows homeowners to exclude up to $500,000 of gain is not a “once-in-a-lifetime” situation. It can be used over and over again. The only conditions are that the property must be owned and lived in two out of the five years before it is sold.

Filed under: 1031 Starker Exchange, Legal Advice in Common Scenarios, Money-Saving, Renting, Tax Issues, VRN | No Comments »

Image via Wikipedia Contemplate writing a codicil that has this language: Codicil to my Last Will & Testament Upon my passing my estate’s executor will cause my estate to hire the services of a private investigator to investigate the events leading up to my death or incapacitation, the cause of my death or incapacitation, and [...]

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