Posts Tagged: taxes

Critical Alert: Taxability of California Short Sales

. Critical Alert Regarding Taxability of California Short Sales!  The IRS has recently issued a clarification letter to it’s September 19, 2013 letter to Senator Barbara Boxer concerning short sales and taxation of forgiven debt. The clarification essentially reverses their statement in the 2013 which read, “We believe that a homeowner’s obligation under the anti-deficiency provision of section 580e of the… Read more »

IRS: Gay Spouses in All States Can File Joint Taxes

OK—–So this is a REPOST but I would LOVE to hear thoughts and opinions from others on this!!! Thursday, 29 Aug 2013 03:20 PM Married gay couples living in all 50 states can file joint federal tax returns, even if local authorities don’t recognize their marriages, the Obama administration said today. The decision by the… Read more »

The Difficulty of Buying Real Estate in Mexico for US Citizens

Anyone who has “bought” property in Mexico near its borders or near the water is familiar with the concept of the fideicomisos. Fideicomisos are trust arrangements with Mexican banks, where the banks holds title to a property on behalf of a foreign buyer. Since foreigners can’t legally own property in these restricted zones, fideicomisos offer… Read more »

Oregon, USA: Voters Approve Constitutional Ban on New Real Estate Transfer Taxes

Voters have approved a ballot measure banning new taxes on the transfer of real-estate. The measure was pushed by the National Association of Realtors and its Oregon affiliate, which funded nearly all of the $5 million campaign promoting the ballot measure. State law already prohibits local governments from adopting transfer taxes, but proponents said they… Read more »

KS: Dropping Home Values Raise Issues for Local Governments

Kansas community governments and the taxpayers who support them are headed for a financial jolt, some recent trends in home sales statewide suggest. Kansas home sales in September topped year-earlier levels by double digit percentages for a third consecutive month, the Kansas Association of Realtors reports. September’s 12.2 percent increase was smaller than a similar… Read more »

SC: Real Estate Market Improving, But Changes Needed

Nick Kremydas with the South Carolina Association of Realtors, says the state’s current tax structure is hindering growth. But the future in the real estate market still has a bright side. Kremydas, the association’s chief executive officer, spoke at the Anderson Area Chamber of Commerce’s Toast and Topics breakfast Thursday about the real estate industry… Read more »