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Tag: tax

Mortgage Cancellation Tax Relief….may expire at years end

With nearly one third of homeowners upside down on the value of their home there are many who have and many more who will seek options to extricate themselves from their financial crisis. A few options open to them: Bankruptcy, Deed in Lieu of Foreclosure, Foreclosure and Short Sale. All of these are tools that a homeowner can

Health Care Tax Facts….It is Not a Real Estate Transfer Tax.

3.8% Tax Will go into Effect in 2013 Now that the Supreme Court has upheld the health care legislation, all of its major provisions remain in effect, including the new tax that was designed to affect upper income taxpayers. The 3.8% tax is imposed ONLY on those with more than $200,000 of Adjusted Gross Income

Is There a New Real Estate Tax Buried in the New Health Care Law?

Below is a repost from Ask the Taxgirl. This discussion keeps rearing its ugly head and she does a good job of addressing it. Ask the taxgirl: “Real Estate Tax” In Health Care Law? February 19, 2011 · 8 comments Taxpayer asks: Please tell me this isn’t so…..Under the new health care bill, all real