Tag Archives: Tax

Upside Down on Your Mortgage? Consider a SHORT SALE!

Five  years ago Congress passed the Mortgage Forgiveness Debt Relief Act of 2007. This allowed taxpayers to exclude from their taxable income, the amount of debt that was forgiven or canceled by their lender. Under federal tax code, forgiven debt … Continue reading

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Selling Your Home? Ten Tax Tips from IRS.Gov

Ten Tax Tips for Individuals Selling Their Home IRS Summertime Tax Tip 2011-15,  August 8, 2011 The Internal Revenue Service has some important information to share with individuals who have sold or are about to sell their home. If you … Continue reading

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1099 Rental Reporting: What does this have to do with Health Care?

Rental Property Owners have been handed another huge burden for reporting income and expenses in 2011 & 2012.   The  Small Business Jobs Act of 2010 and Patient Protection and Affordable Care Act, PL 111-148, signed into law in 2010, both beef up … Continue reading

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