irs: texthog for tracking business expenses will make your life simplier and easier.
- 10/14/10 03:46 AM
Now there's a super easy way to keep track of your business expenses and have it all gathered in one handy place come tax time. www.TEXTHOG.com Texthog is the answer. You simply text, email, or enter from the web, your expenses for the day, week, or however you keep track and it all automatically goes into TextHog and gets sorted into the categories you set up.
Here's a short video that shows texthog in action.
Texthog from Doejo on Vimeo.
How's that for easy? And of course there's an ap. Visit texthog to see the options … (6 comments)
irs: 2 out of 5 home sales tax rule changes in 2009
- 09/29/08 02:22 AM
Beginning January 1st of 2009 the current, 2 out of 5, tax rule will change. Currently if you’ve lived in your Knoxville or Farragut, Tennessee home as your principal residence for any 2, doesn’t have to be consecutive, just cumulative, of the previous 5 years you can exclude up to $500,000 of gain if married filing jointly and $250,000 if single. The new rule is that if you used the property first as something other than a principal residence (such as a vacation home or investment), that you must pro-rate the gain so that some is taxable and some is tax … (3 comments)
irs: Real estate tax savings tips
- 05/09/07 01:36 AM
As a long time taxpayer I love discovering new ways to save money on income taxes. One of the best deal going to date is the up to $500,000 EXCLUSION ON THE GAIN (the difference between what you paid to buy the property and what you sold it for) you make on the sale is tax-free, not the sale price, of your principal residence. It's up to $500,000 for married taxpayers filing jointly or $250,000 for single taxpayers. Tax expert Diane Kennedy has a great article on this subject in today's Realty Times Basically to qualify for this huge tax savings you only have … (6 comments)
irs: Misrepresentation, Fraud, and Disclosure
- 03/12/07 10:14 AM
I'm over in Nashville, Tennessee for a couple of days attending our yearly Tennessee Association of REALTORS Spring Conference. Today I sat in on a talk by super savvy Colorado attorney/Realtor Oliver Franscona who talked about "Misrepresentation, Fraud, and Disclosure" Oliver is co-author of a great book titled The Digital Paper Trail in Real Estate Transactions, a super book full of great advice and a CD with useful contract clauses and phrases to keep you out of trouble. I have a copy and recommend it highly. Oliver talked for a couple of hours about the differences between misrepresentation and … (2 comments)
irs: Here's a hidden "Gotcha" for seller financing.
- 12/23/06 10:38 PM
Every now and then you might be asked by a seller or buyer if seller financing could be an option to make a transaction work. A common scenario might be for a buyer to ask a seller to take back a small second mortgage (we're talking about a legitimate, recorded, and disclosed second here) in order to help them get into a home. Being a good guy the seller says "sure, I'll do that and because I like you so much I'll only charge you 3% interest on this $25,000 second you're going to pay off in 5 years." Sounds like a match … (6 comments)
irs: Doing business with the US Government
- 10/01/06 05:13 AM
As anyone who has ever done business with the federal goverment in any way will probably attest to, it's a nightmare of bureaucracies. Together with the IRS, DOT, DOE, and a veritible alphabetical avalanche of other agencies, the US Small Business Administration has put together a website to help us our; sort of a one stop shopping center for doing business with Uncle Sam. http://www.business.gov Links to helpful real estate resources such as RESPA, FHA appraisers home page, IRS real estate, online publications, and lots of other useful stuff. www.Business.gov, worth bookmarking for future reference. … (1 comments)
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Jim Lee, REALTOR, CRS, ABR
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Now there's a super easy way to keep track of your business expenses and have it all gathered in one handy place come tax time.
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