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tax law: Tax Credit Extension Could Help Tax Cheaters - 06/21/10 12:10 PM
By James R. Hagerty Everett Collection As we reported Thursday, Congress is considering a proposal from Sen. Harry Reid (D., Nev.) to extend the closing deadline on the tax credit of up to $8,000 for home buyers.
One risk of this proposal: It could help people who are trying to cheat Uncle Sam.
To qualify for the credit, buyers must have made a contract to buy the home by April 30. They are then supposed to complete the transaction by June 30. Because of the rush of people to close by then, mortgage companies and closing agents may have a hard time … (2 comments)

tax law: 5 homeownership tax myths - 03/16/10 11:20 AM
What had been done with the best parental intention turned out to carry a big price because of this homeownership tax myth.
5. If I take a capital loss when I sell my home, I can write it off. This myth, like No. 2, was probably started by wishful homeowners. Sorry, it's just as wrong.
It is true that real estate, like any other asset, has the potential to go down as well as up in value. But unlike most of those other holdings, you cannot write off any loss you suffer if you must sell your main residence for less … (1 comments)

tax law: The Nanny and The Tax Man-Are You at Risk? - 03/11/10 03:44 PM
The Nanny and The Tax Man A growing number of families who employ nannies may be unwittingly violating state and federal tax and labor laws.
Click here to read the latest newsletter from Teresa Leigh, founder of Teresa Leigh Household Risk Management LLC.  Teresa has 27 years of experience in household and domestic staff management. She identifies problem areas within a client's home and offers solutions.

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Daniel Guest

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