Posted by taxguru on February 7, 2005
Bush’s Fiscal 2006 Budget Pushes Tax Cut Permanency, Budget Process Reform
White House Budget Leaves Heavy Lifting to Tax Reform Commission
IRS Enforcement Gets Budget Boost; Service, Modernization Not So Lucky
Proposed Treasury Budget for FY 2006
Statement of IRS Commissioner Mark W. Everson on the FY 2006 Budget
Elderly Are Skeptical Of Reverse Mortgages – I have always had problems convincing elderly people that there is no sin in having a mortgage on their homes and dipping into their equity in order to enjoy the fruits of their investment. A home with a mortgage is still a windfall to their heirs. When I crunch the numbers, it often works out better to have them take out a large mortgage at one time rather than use a piece-meal reverse mortgage approach. It usually works out that they can deposit half of the tax free loan proceeds into the bank and it will make the payments for their rest of their lives. The other half can be spent on fun stuff, “I’m spending my kids’ inheritance” style.
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Tax Guru - Ker$tetter Letter 