Tax Consequences of Flipping Real Estate - If you're not careful, you'll be making big profits for the IRS.
Is a Pre-Payment Penalty Deductible? - For tax purposes, a prepayment penalty is deductible in the same way as
mortgage interest, says our tax adviser.
Selling an SUV Expensed Under Section 179 - When you sell an SUV on which you took a full deduction, you realize a
gain at the time of sale unless you enter into a like-kind exchange with a trade-in, says our tax adviser.
Retirement Tax Havens in the US - Moving to a tax-friendly locale could help you make the most of your retirement
income.
Propert Sale Straddles Two Tax Years - If you don't get property sales proceeds from a December sale until January,
you can treat the transaction as an installment sale in 2006, says our tax adviser.
Confused About Home Sale Exclusion - Your closing agent must report the sale of your home to the IRS if the sale
price is more than $250,000, but that doesn't mean you have to pay capital gains taxes, says George Saenz, CPA.
10 New Tax Laws You Need to Know - Check out these changes before you start your return. They could save you
some money.
13 Basic Tax Lessons - Knowledge is power that can help you strategize and ultimately cut your tax bill.
Ready to Work on Your Taxes? - Tap our 2006 tax guide for ways to reduce your tax bill, and for links to all the forms
you'll need to file.
5 Stupid Tax Tricks - Owe the IRS? Then take these steps to make a bad situation worse, says the Debt Adviser.
Purchases Could Provide a Tax Advantage - Did you buy a lot of stuff last year? Your sales taxes now might help
reduce your income tax bill.
Ten New Tax Laws You Need to Know - Lawmakers were busy in 2006, so be sure to check out these tax code
changes. They might save you some money.
Section 179 and My New F250 - The law still favors the purchase of disproportionately large vehicles when it comes to
depreciation deductions, says George Saenz.
New Tax Deduction for Mortgage Insurance - Just before convening, Congress slipped in a provision making
mortgage insurance tax deductible on mortgages taken out in 2007.
Mortgage Interest Deduction Not Always Best - When analyzing whether to deduct your mortgage interest, you have to
also consider the standard tax deduction and your tax rate, says Dr. Don.
Like Kind Exchange on Rental/Vacation Home - Using a rental property as a part-time vacation home generally takes
the property outside of the like-kind exchange realm, says CPA George Saenz.
Losses from Rental Real Estate - If your deductions, including depreciation, interest and upkeep, exceed your income,
you have a loss from rental real estate, says CPA George Saenz.
5 Homeownership Tax Myths - Owning a home usually provides substantial tax breaks. But sometimes, the tax code's
complexity gets in the way.
Hindsight and Capital Gains Taxes - You could have avoided paying capital gains taxes on the sale of your property if
you had entered into a like-kind exchange before you closed the deal, says CPA George Saenz.
A Home Equity Line of Credit Plan of Attack - As interest rates rise, people with a home equity line of credit wonder
what to do: Keep it, and risk more rate hikes, or pay it off by refinancing.
IRS Names Autos Eligible for New Tax Credits - A new law could mean big tax savings if you purchase one of these
hybrid vehicles this year.