"If it sounds too good to be true, it probably is!" Don't become a victim to any scheme that offers instant wealth or exemption from your obligation as a United States citizen to file tax returns and/or pay taxes. Some of these schemes can literally cost
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Obama Health Care Reform Imposes Transaction Tax on Some Home Sales
Continue reading >>Question: I took out a home equity loan secured by my main home to pay off personal debts. Is this interest deductible? Where do I enter this amount on my tax return? Answer: A loan secured by your personal residence but taken out for reasons other
Continue reading >>Question: I have a mortgage for land that I intend to build a home on. Can I deduct the interest for the mortgage? Answer: You can treat a home under construction as a qualified home for a period of up to 24 months, but only if it becomes your qua
Continue reading >>You may qualify to exclude from your income all or part of any gain from the sale of your main home. Your main home is the one in which you live most of the time. Ownership and Use Tests To claim the exclusion, you must meet the ownership and us
Continue reading >>Most real estate professionals operate their business as a sole proprietorship. This means that you are not someone's employee, you haven't formed a partnership with anyone, and you have not incorporated your business. Statutory Nonemployees Lic
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