Providing quality services to ICCmembers is a priority. ICC offers several membership categories. A system of regional offices, chapters and relationships with key officials at the state and local levels of government provides easy access to ICC staff alm
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by Paul D. Pearlstein I. Introduction This chapter will highlight a few of the basic tax laws that affect real estate. There will be no attempt to deal with the complexities of tax law in any great detail. However, a bibliography at the end of the ch
Continue reading >>If you want the credit, know the rules The First-Time Homebuyer Credit was expanded in late 2009 to include repeat home buyers as well. Buyers must have had a binding contract in place on or before April 30, 2010 and must have closed on the home on or be
Continue reading >>Whenever you sell a home, you need to calculate your capital gains to determine whether you owe any tax. If you engage in a short sale or your mortgage lender forecloses on your home, the Internal Revenue Service treats it just like a sale. Foreclosures a
Continue reading >>When you make a home improvement, such as installing central air conditioning, adding a sunroom or replacing the roof, you can't deduct the cost in the year you spend the money. But if you keep track of those expenses, they may help you reduce your taxes
Continue reading >>Understand the exceptions A longstanding principle of tax law treats any type of debt forgiveness as a financial benefit, even if it comes at the expense of your home. This means that even if you are facing foreclosure you may incur an additional debt to
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