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WalletPop experts take on your questions, from capital gains to back taxes
19 hours ago ago from WalletPop Blog
Filed under: Tax - Advice The Internal Revenue Service collected $56.4 billion from "enforcement efforts" in 2008. Peter Pappas of The Tax Lawyer's Blog expects the figure for 2009 to be even higher. Don't be another auditing statistic. WalletPop experts are on hand to answer some of your burning questions, from capital gains on property sales to back taxes on a business. Question: If my wife and I sold our two family houses of 25 years ...
Related contentSelling inherited gold? Pay tax!
6 hours ago ago from BankBazaar: Personal Loan, Home Loan Guide
To decide whether the gold is long or short term asset, find out how long have held it. If your holding period is over 36 months, it is considered as a long term asset, and accordingly long term capital gains (LTCG) tax rate is charged. If you have held it for less than 36 months, then they are considered as short term capital assets and you end up paying long term capital gains tax. (more )
Related contentWhat Is A Good Strategy For Selling A Small Business Without Paying Capital Gains Tax?
18 hours ago ago from Business Services
I have an automotive repair shop and I would like to defer paying capital gains tax by rolling the proceeds of the sale of the business into another investment. I do not see the point of paying capital gains tax on the sale when I will simply take the money and reinvest it in another business. Can I do this even if the money does not go into a similar business? Ideally, I'd like to invest the money in a mutual fund and take out maybe 10% per ...
Related contentEnglish expands on tax package parameters
21 hours ago ago from Scoop Business
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William McGurn: Bush Was Right, Says Obama
10 hours ago ago from Wall Street Journal
BY WILLIAM MCGURN This weekend, Americans were treated to something new: Barack Obama defending his war policies by suggesting they merely continue his predecessor's practices. The defense is illuminating, not least for its implicit recognition that George W. Bush has more credibility on fighting terrorists than does the sitting president. Mr. Obama's explanation came in an interview with Katie Couric just before the Super Bowl. Ms. ...
Related contentObama and Counterterrorism: The Debate Moves Right
21 hours ago ago from TIME.com - U.S.
SEARCH TIME.COM Full Archive Covers Videos Obama and Counterterrorism: The Debate Moves Right By Massimo Calabresi / Washington Tuesday, Feb. 09, 2010 President Barack Obama meets with John Brennan, Deputy National Security Adviser for Homeland Security and Counterterrorism, in the Oval Office Pete Souza / White House Share John Brennan, Deputy ...
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