Trust Distribution of Assets: Is There a Way to Save on Income Taxes?
If you are a Beneficiary of a Trust and the Trustee will be distributing the assets towards the…
Confused About How to Hold Title to Your Property? Here Are Your Options
One of the most important decisions that needs to be made at closing is how you choose to…
How to Use Seller Financing to Your Advantage
Seller financing can be a useful tool to not only the Buyer but also to the seller. With…
State by State Sales Tax Rates
This map indicates individual state sales base-line tax rates. Local sales taxes are collected in 38 states. In…
State By State Income Tax Guide
As of 2021, seven states — Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming — levy no…
Homeowners Take Note: You May Have More Tax Deductions Than You Know
The 2016 tax year officially opened Jan. 19 when the Internal Revenue Service started accepting 2015 tax returns….
What Is the IRS Form 4506 Which I Might Be Asked to Sign at Closing?
What is the IRS Form 4506 which I might be asked to sign at closing? Form 4506 is…
Will I Have to File a State Income Tax Return?
There are currently seven states which do not require you to file a state income tax return. States…
Will My Escrow Agent Have to Report My Sale to the IRS?
The Tax Reform Act of 1986 required anyone responsible for closing a real estate transaction, which may include…
What is the First Time Homebuyer Credit?
The First Time Homebuyer Credit is a credit available to taxpayers who purchase a primary residence during the…
How Am I Taxed in an Installment Sale?
Installment sales are used to help spread out capital gains on a property for a period of more…
What is a Trust and Should I Create One?
A trust is an arrangement which dictates how your assets are to be managed and distributed. Trusts are…
What is the Tax Exclusion Rule for the Sale of a Residence?
The Taxpayer Relief Act of 1997 has replaced the old Rollover Residence Replacement Rule, IRS Code Section 1034,…
For Tax Purposes, What Is The Best Time To Buy My House?
Knowing when to close your real estate purchase can work to your advantage at tax time. You may…
Tax Prorations At Closing Time
Among the various items which will be prorated, or shared between the buyer and seller at the closing…