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tax: Schwartzenegger to Lincoln & Columbus - Ged Oudda Heah! - 11/15/08 01:13 PM
10-15 ca holidays According to his press flacks, Gov. Schwarzenegger has nothing against Abe Lincoln or Chris Columbus, he just doesn't think state workers need to get a paid holiday off to celebrate them anymore. Worried about his legacy as a tax & spend Republican,  Gov. Arnhole has proposed this sweeping CUT to a state budget faced with an estimated $24 Billion shortfall next year, $28 Billion by 2010.. Frequent readers may recall our saga this year with a state budget deficit approaching $15 Billion. (It's All About the Balls and Nice Budget Boys & Girls). A budget was finally passed … (9 comments)

tax: Short Sale Tax Foregiveness Bill signed - 12/21/07 12:38 PM
President Bush signed into law today a new measure giving tax breaks to homeowners who have mortgage debt forgiven. Under preexisting law, the debt forgiven by a lender, such as for short sales and refinances, was generally taxable to the borrower as debt discharge income. With the passage of the Mortgage Forgiveness Debt Relief Act of 2007, a taxpayer does not have to pay federal income tax on debt forgiven for a loan secured by a qualified principal residence.This tax break applies to debts discharged from January 1, 2007 to December 31, 2009. Qualified principal residence indebtedness is debt incurred in … (6 comments)