
Archive for June, 2007
Posted by taxguru on June 5, 2007
Some handy summaries of the recently passed tax law:
From TheTaxBook (links to two pdf files)
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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.
A campaign promise we can count on…
Posted by taxguru on June 4, 2007

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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?
Taxes as motivation to leave…
Posted by taxguru on June 3, 2007

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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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