Form 709, is required to be filed if a gift is made to someone for more than $13,000 in one year. Gifts between spouses are not required to file. Gifts can be made to an unlimited number of people in…
Form 709, is required to be filed if a gift is made to someone for more than $13,000 in one year. Gifts between spouses are not required to file. Gifts can be made to an unlimited number of people in…
The State of Connecticut Budget proposal includes a conveyance tax on buyers of real estate. The tax imposed would be 1% of the purchase price on homes purchased above $150,000. Here are 3 reasons this proposal should not be…
Frequently, parents will be encouraged to give their home to their children so the government won’t take it to pay any nursing home bills. This is usually very bad advice. Why is this not an appropriate strategy?
Most long-term capital gains are taxed at 15% for 2010. This rate is scheduled to increase to 20% in 2011. Unfortunately, we need to say “most” because there are some exceptions as follows: Taxpayers in the 10% and 15% ordinary…
The difficulties in the housing market have been well documented. If you have been trying to sell your home and have been unsuccessful, here’s a tip. Don’t reduce the asking price (again)…raise the commission!