Tax Guru – Ker$tetter Letter

Helping real people win the tax game.

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Archive for June, 2007

Posted by taxguru on June 7, 2007

Posted in comix, taxes | Comments Off on

Posted by taxguru on June 5, 2007

Some handy summaries of the recently passed tax law:

From ClientWhys

From QuickFinder (5 page pdf)

From Lacerte

From TheTaxBook (links to two pdf files)

 

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Posted by taxguru on June 5, 2007

Posted in comix, Hitlary | Comments Off on

Posted by taxguru on June 5, 2007

The Perils of Holding Real Estate in a Corporation – Besides the never-ending question of what type of business entity is appropriate for a particular business activity, another important issue is how to hold title to business and investment assets.  While, as with practically every aspect of taxes, there is no one size fits all answer to this, there is one key way in which to frame the question.  Is the asset expected to increase or decline in value, because the real differences crop up with assets that will be sold at a gain.   

 

Posted in corp, realty | Comments Off on

A campaign promise we can count on…

Posted by taxguru on June 4, 2007

Posted in comix, Hitlary | Comments Off on A campaign promise we can count on…

Posted by taxguru on June 4, 2007

Congress Closes ‘Kiddie Tax’ Loophole – A good look at another tax law change in the recently signed Iraq war funding bill.  Income shifting strategies may need to be revised.


Tough Choice: Your Retirement Lifestyle or … Your House? – Reverse mortgages might allow both.

 

Bill to ban tax breaks for crime-related acts stalls – Interesting issue.  Should crooks who report their illegal income be allowed to deduct their operating expenses in the same manner as a legit company?

 

How desperate is the PRC government for money?  How about resorting to stealing unclaimed assets rather than looking for the actual owners?

State must halt fund seizures

Judge orders state to stop taking assets

 

 

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Taxes as motivation to leave…

Posted by taxguru on June 3, 2007

Posted in comix, taxes | Comments Off on Taxes as motivation to leave…

Posted by taxguru on June 3, 2007

Posted in comix, IRS | Comments Off on

Posted by taxguru on June 1, 2007

Some interesting articles in the WSJ free real estate journal:

Mortgage Brokers: Are They Friends or Foes for Borrowers?

 

Buying a Retirement Home Decades Before You Retire – There are many different ways to do this; so consulting your personal professional tax advisor is a must.

 

How to Best Hire a Realtor When Moving Out of State

 

Tax Strategy for Real Estate Hits Some Rocky Turf – The recent bankruptcy of some large 1031 facilitators rightfully has many people concerned.

 

Florida Hones Plan to Overhaul Escalating Property Taxes

 

Owning a Vacation House Can Raise Your Tax Load – You need to be careful of properly handling tax filing obligations for any state in which you own property and/or earn any income.

 

 

 

 

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Posted by taxguru on June 1, 2007

Legal gaps help hide assets from creditors, IRS

 

Rolling a 4-0-1-K Is Not as Simple as 1-2-3

 

 

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