To get my complete, FREE articlewith all the details… A quick introduction to a very important subject… This issue of the Tax Reduction Letter is Part 2 of my three-part refresher course on how to get the maximum federal income-tax savings from the home-sale gain-exclusion tax break. The gain exclusion at a glance. With residential real-estate markets … [Read more...]
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Principal residence gain-exclusion break (Part 1 of 3)
To get my complete, FREE articlewith all the details… Are you going to sell your home, or are just thinking about it? Then you may be eligible to take advantage of one of the most terrific tax-breaks allowed by the IRS! I’m talking about the “Principal Residence Gain Exclusion” break. Why this money saving opportunity is so important now. As you know, the … [Read more...]
Deducting Disaster Losses for Individuals
Whether you’re insured or not, a disaster means tax trouble. You’ll find out why when you read the full article,“Deducting Disaster Losses for Individuals” When a disaster strikes, brace yourself. You’re in for painful tax-problems concerning your disaster-loss deductions. (The tax law is your second disaster!) Here are two of many important facts… Deduction Fact … [Read more...]
Lawmakers Extend the Tax Extenders With the COVID-19 Relief Law
Okay. Let’s pretend you’re back in college and you have to turn in an essay to your professor by Monday. But you know that you can’t meet that deadline so you ask your prof for an extension. Well, that’s what lawmakers have done. They’ve granted themselves an extension (and didn’t even have to ask anyone for permission!) Here’s why lawmakers wanted to put things … [Read more...]
Handling Key Non-Tax Financial Issues When a Loved One Passes Away (Part 3)
Previously, in the Tax Reduction Letter, we published the first two parts of a three-part series… Tax Considerations When a Loved One Passes Away (Part 1)Tax Considerations When a Loved One Passes Away (Part 2) In this, the final article in the series, we’re coverthe most important non-tax financial issues. Read my new article… Handling Key Non-Tax Financial Issues … [Read more...]