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	<title>ask matt cpa &#187; Taxes</title>
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	<description>we are free agents nation ...</description>
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		<title>Q&amp;A: Mobile Home</title>
		<link>http://askmattcpa.com/2009/12/qa-mobile-home/</link>
		<comments>http://askmattcpa.com/2009/12/qa-mobile-home/#comments</comments>
		<pubDate>Wed, 09 Dec 2009 04:08:42 +0000</pubDate>
		<dc:creator>matt cpa</dc:creator>
				<category><![CDATA[Taxes]]></category>
		<category><![CDATA[Q&A]]></category>
		<category><![CDATA[Tax Saving]]></category>

		<guid isPermaLink="false">http://askmattcpa.com/2009/12/qa-mobile-home/</guid>
		<description><![CDATA[Question: Can i be considered first home buyers if we owned a mobile home, but not the land the mobile home was on, we didn&#8217;t claim homestate exception, nor did we claim any interest on loan. 
Answer:
A primary residence can be a house, condominium, co-operative apartment, houseboat, or mobile home.&#160; Credit will be given to [...]]]></description>
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		<slash:comments>1</slash:comments>
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		<title>Short Sale Tax Implication</title>
		<link>http://askmattcpa.com/2009/11/short-sale-tax-implication/</link>
		<comments>http://askmattcpa.com/2009/11/short-sale-tax-implication/#comments</comments>
		<pubDate>Fri, 20 Nov 2009 05:58:29 +0000</pubDate>
		<dc:creator>matt cpa</dc:creator>
				<category><![CDATA[Taxes]]></category>
		<category><![CDATA[Real Estate]]></category>

		<guid isPermaLink="false">http://askmattcpa.com/2009/11/short-sale-tax-implication/</guid>
		<description><![CDATA[Short-sale is selling short of the mortgage balance.&#160; If the bank agrees that this is a better option rather than heading to the full foreclosure,&#160; a short-sale will happen.&#160; 
Taxable Income
Closing a short-sale deal is not an easy process because seller normally carries second loan in additional to the mortgage, and both lenders are required [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Tax Law Tweaks &#8211; Home Buyer Credit</title>
		<link>http://askmattcpa.com/2009/11/tax-law-tweaks-home-buyer-credit/</link>
		<comments>http://askmattcpa.com/2009/11/tax-law-tweaks-home-buyer-credit/#comments</comments>
		<pubDate>Thu, 19 Nov 2009 01:58:31 +0000</pubDate>
		<dc:creator>matt cpa</dc:creator>
				<category><![CDATA[Taxes]]></category>
		<category><![CDATA[Tax Planning]]></category>
		<category><![CDATA[Tax Saving]]></category>

		<guid isPermaLink="false">http://askmattcpa.com/2009/11/tax-law-tweaks-home-buyer-credit/</guid>
		<description><![CDATA[If “first time” had been the heartbreaker for you, here is a new deal.  For people with 5 continuing years as home owner out of prior 8-year period, you are in for a $6,500 credit if you buy a new house during 11/6/2009 to 5/1/2011.  Hmm, the 5-continuing-year is to block out speculator with short ownership; and the 8-year period is to allow people lost houses within the last 3 years.  Just a guess why the rule was ironed out this way.]]></description>
		<wfw:commentRss>http://askmattcpa.com/2009/11/tax-law-tweaks-home-buyer-credit/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Expedition To Find 1031 Alternatives</title>
		<link>http://askmattcpa.com/2009/11/expedition-to-find-1031-alternatives/</link>
		<comments>http://askmattcpa.com/2009/11/expedition-to-find-1031-alternatives/#comments</comments>
		<pubDate>Tue, 10 Nov 2009 21:54:27 +0000</pubDate>
		<dc:creator>matt cpa</dc:creator>
				<category><![CDATA[Taxes]]></category>
		<category><![CDATA[Wealth]]></category>
		<category><![CDATA[1031 Exchange]]></category>
		<category><![CDATA[Installment Sale]]></category>
		<category><![CDATA[Investment]]></category>
		<category><![CDATA[IRA]]></category>
		<category><![CDATA[Tax Saving]]></category>
		<category><![CDATA[Wealth Building]]></category>

		<guid isPermaLink="false">http://askmattcpa.com/2009/11/expedition-to-find-1031-alternatives/</guid>
		<description><![CDATA[1031 exchange allows investors to shield a real estate deal from hefty tax bite.  As heroic as it is to many, it has its share of complains.  You have to buy another property within a short time and you have to continue to buy more expensive new property.  Basically, it is restrictive and rigid.  Formality [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Exit Gracefully &#8211; A Hybrid 1031 Won&#8217;t Do</title>
		<link>http://askmattcpa.com/2009/11/exit-gracefully-a-hybrid-1031-wont-do/</link>
		<comments>http://askmattcpa.com/2009/11/exit-gracefully-a-hybrid-1031-wont-do/#comments</comments>
		<pubDate>Mon, 09 Nov 2009 00:04:34 +0000</pubDate>
		<dc:creator>matt cpa</dc:creator>
				<category><![CDATA[Taxes]]></category>
		<category><![CDATA[Wealth]]></category>
		<category><![CDATA[1031 Exchange]]></category>
		<category><![CDATA[Capital Gains]]></category>
		<category><![CDATA[Depreciation]]></category>
		<category><![CDATA[Installment Sale]]></category>
		<category><![CDATA[Investment]]></category>
		<category><![CDATA[Real Estate]]></category>
		<category><![CDATA[Wealth Building]]></category>

		<guid isPermaLink="false">http://askmattcpa.com/2009/11/exit-gracefully-a-hybrid-1031-wont-do/</guid>
		<description><![CDATA[In real estate investment, it is very important to have an exit plan.&#160; Either you want to cash out completely, or you just want to change to different property holding, each move will cost you in term of tax.&#160; 
Tax is quite a fortune in real estate deals.&#160; Needless to say, you have to find [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Phantom of Capital Gain</title>
		<link>http://askmattcpa.com/2009/11/phantom-of-capital-gain/</link>
		<comments>http://askmattcpa.com/2009/11/phantom-of-capital-gain/#comments</comments>
		<pubDate>Sun, 08 Nov 2009 09:39:32 +0000</pubDate>
		<dc:creator>matt cpa</dc:creator>
				<category><![CDATA[Taxes]]></category>
		<category><![CDATA[Wealth]]></category>
		<category><![CDATA[1031 Exchange]]></category>
		<category><![CDATA[Capital Gains]]></category>
		<category><![CDATA[Depreciation]]></category>
		<category><![CDATA[Installment Sale]]></category>
		<category><![CDATA[Investment]]></category>
		<category><![CDATA[Real Estate]]></category>
		<category><![CDATA[Wealth Building]]></category>

		<guid isPermaLink="false">http://askmattcpa.com/2009/11/phantom-of-capital-gain/</guid>
		<description><![CDATA[Whenever you sell things, you will pay tax on the profit.&#160; Selling inventory is ordinary income, but selling investment asset is capital gain.&#160; Capital gain is taxed at a lower rate.&#160; Alright, so, what is the misery?&#160; Capital gain is not always what you think it is.&#160; It is sometimes just a phantom.
Current Rates
The highest [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>A Little Journey with IRA</title>
		<link>http://askmattcpa.com/2009/11/a-little-journey-with-ira/</link>
		<comments>http://askmattcpa.com/2009/11/a-little-journey-with-ira/#comments</comments>
		<pubDate>Mon, 02 Nov 2009 04:40:22 +0000</pubDate>
		<dc:creator>matt cpa</dc:creator>
				<category><![CDATA[Taxes]]></category>
		<category><![CDATA[Wealth]]></category>
		<category><![CDATA[Investment]]></category>
		<category><![CDATA[IRA]]></category>
		<category><![CDATA[Real Estate]]></category>
		<category><![CDATA[Wealth Building]]></category>

		<guid isPermaLink="false">http://askmattcpa.com/2009/11/a-little-journey-with-ira/</guid>
		<description><![CDATA[If you find investment a worthwhile goal of life, start soon and start with basics.&#160; IRA, an saving account, loaded with tax incentives, is the best way to get a head start.&#160; I will use a story below to illustrate how it help you to go a long way.
Humble Beginning
You start with budgeting in order [...]]]></description>
		<wfw:commentRss>http://askmattcpa.com/2009/11/a-little-journey-with-ira/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Index Card &#8211; IRA &amp; Roth IRA</title>
		<link>http://askmattcpa.com/2009/11/index-card-ira-roth-ira/</link>
		<comments>http://askmattcpa.com/2009/11/index-card-ira-roth-ira/#comments</comments>
		<pubDate>Sun, 01 Nov 2009 23:27:13 +0000</pubDate>
		<dc:creator>matt cpa</dc:creator>
				<category><![CDATA[Taxes]]></category>
		<category><![CDATA[Wealth]]></category>
		<category><![CDATA[Investment]]></category>
		<category><![CDATA[IRA]]></category>
		<category><![CDATA[Real Estate]]></category>
		<category><![CDATA[Retirement]]></category>

		<guid isPermaLink="false">http://askmattcpa.com/2009/11/index-card-ira-roth-ira/</guid>
		<description><![CDATA[Investment is a lifestyle for those who enjoy the thrill of discovering values.&#160; IRA is a perfect platform to start such adventure.&#160; It is an account with simple requirements to open, flexibility in investment choices, and the tax incentives for faster growth.&#160; Simple as it is, however, there are many angles of IRA that are [...]]]></description>
		<wfw:commentRss>http://askmattcpa.com/2009/11/index-card-ira-roth-ira/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Beyond the Annual Gift Tax Exclusion</title>
		<link>http://askmattcpa.com/2009/10/beyond-the-annual-gift-tax-exclusion/</link>
		<comments>http://askmattcpa.com/2009/10/beyond-the-annual-gift-tax-exclusion/#comments</comments>
		<pubDate>Fri, 23 Oct 2009 22:22:13 +0000</pubDate>
		<dc:creator>matt cpa</dc:creator>
				<category><![CDATA[Taxes]]></category>
		<category><![CDATA[Wealth]]></category>
		<category><![CDATA[Estate Tax]]></category>
		<category><![CDATA[Gift Tax Exclusion]]></category>

		<guid isPermaLink="false">http://askmattcpa.com/2009/10/beyond-the-annual-gift-tax-exclusion/</guid>
		<description><![CDATA[My other post explains how the gift annual exclusion works.&#160; What happens if your gift, such as a car, which has a value higher than $13,000 exclusion (2009)?&#160; Does it make it taxable gift?
The answer is yes, but…&#160; It is taxable but you don’t necessarily owe any tax.&#160; Each person is entitle to a $1 [...]]]></description>
		<wfw:commentRss>http://askmattcpa.com/2009/10/beyond-the-annual-gift-tax-exclusion/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Gift Tax Exclusion</title>
		<link>http://askmattcpa.com/2009/10/gift-tax-exclusion/</link>
		<comments>http://askmattcpa.com/2009/10/gift-tax-exclusion/#comments</comments>
		<pubDate>Fri, 23 Oct 2009 19:59:51 +0000</pubDate>
		<dc:creator>matt cpa</dc:creator>
				<category><![CDATA[Taxes]]></category>
		<category><![CDATA[Wealth]]></category>
		<category><![CDATA[Education Costs]]></category>
		<category><![CDATA[Estate Tax]]></category>
		<category><![CDATA[Gift Tax Exclusion]]></category>
		<category><![CDATA[Wealth Building]]></category>

		<guid isPermaLink="false">http://askmattcpa.com/2009/10/gift-tax-exclusion/</guid>
		<description><![CDATA[Estate tax is a total different kind of animal as opposed to the income tax.&#160; It is a tax on wealth transfer, so the tax is calculated on your total wealth.&#160; In 2009, if your total wealth is higher than $3.5 million, you will pay 45% tax on the excess over this the $3.5 exemption.&#160; [...]]]></description>
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		<slash:comments>2</slash:comments>
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