My realtor friend once told me that when prospect buyers come to an open-house, they really don’t know what to do. After all, no one would think they should pass a home inspection exam before they shop. ...
He who is prudent and lies in wait for an enemy who is not, will be victorious. He who knows when he can fight and when he cannot, will be victorious. Invincibility lies in the defense; the possibility of victory in the attack. These are bunch quotes from Sun Tzu, the ancient Chinese war strategist. Basically, ...
My other post explains how the gift annual exclusion works. What happens if your gift, such as a car, which has a value higher than $13,000 exclusion (2009)? Does it make it taxable gift? The answer is yes, but… It is taxable but you don’t necessarily owe any tax. Each person is entitle to a $1 ...
Estate tax is a total different kind of animal as opposed to the income tax. It is a tax on wealth transfer, so the tax is calculated on your total wealth. 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. ...
We are already in the last quarter of 2009. At the beginning of the year, congress passed the American Recovery and Reinvestment Act to boost the economy, which gives a lot of tax goodies. It is time to take a quick look so that we won’t miss them before it is too late. Some of ...
...it could be the gold-rush opportunity to you. It is time to get your first home or pick out your next investment property. Expect many bumps in the road. Looking at the terms scattered around the real estate ads: short-sale, foreclosure, and REO, you know it is a new landscape out there for both the ...