tax tips: IRS's top 10 tax tips for home sellers - 08/18/11 01:38 AM
From time to time the IRS releases tips designed to help people with their taxes. Some of these are quite useful.
Last week the agency released "Ten Tax Tips for Individuals Selling Their Home," (IRS Summertime Tax Tip 2011-15).
As a real estate agent or broker, it is not your job to give home sellers tax advice. Indeed, it is advisable not to, since you could end up getting sued if you give wrong advice.
Instead, refer sellers to this list of IRS tips. It's a good starting place for them to begin to understand this often complex area of tax … (2 comments)

tax tips: Ten Facts about Mortgage Debt Forgiveness - 03/05/10 10:20 PM
 
If your mortgage debt is partly or entirely forgiven during tax years 2007 through 2012, you may be able to claim special tax relief and exclude the debt forgiven from your income. Here are 10 facts the IRS wants you to know about Mortgage Debt Forgiveness. Normally, debt forgiveness results in taxable income. However, under the Mortgage Forgiveness Debt Relief Act of 2007, you may be able to exclude up to $2 million of debt forgiven on your principal residence. The limit is $1 million for a married person filing a separate return. You may exclude debt reduced through mortgage … (2 comments)

tax tips: Good Tax Tips for Filing 2009 Returns - 03/04/10 09:23 PM
April 15th is less than six weeks away and we all know what that means. If you've yet to visit your accountant or tax preparer, there are some new tax laws, as well as a few old ones you need to know about. But, don't worry. All of the information we're going to share falls under the category of "good news".
Back again for his yearly tax-time advice is Trevor Rice, a certified public accountant and shareholder with Stern, Kory, Sreden and Morgan, AAC in Stevenson Ranch, California. Considering that Rice's appointment book is filling up quickly, we thought it would … (3 comments)

tax tips: 10 Facts About Capital Gains and Losses - 02/21/10 08:02 AM
Have you heard of capital gains and losses? If not, you may want to read up on them because they might have an impact on your tax return. The IRS wants you to know these ten facts about gains and losses and how they could affect your tax situation.
Almost everything you own and use for personal purposes, pleasure or investment is a capital asset. When you sell a capital asset, the difference between the amount you sell it for and your basis - which is usually what you paid for it - is a capital gain or a capital loss. … (0 comments)

 
Christopher Pataki, Hockessin Delaware Real Estate (RE/MAX Associates) Rainmaker large

Christopher Pataki

Hockessin Delaware Real Estate

Hockessin, DE

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RE/MAX Associates

Address: 56 West Main Street, Suite 101, Christiana, DE, 19702

Mobile: 302-562-0628

Office: 302-738-2300

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