Disability Income

by | Jan 15, 2021 | Tax Laws

Follow Today I asked a friend of mine, Ed Kelly to chime in on Disability Insurance. Please enjoy this read. And try not to be frightened. There are relatively inexpensive solutions to disability issues. What is worse than high taxes on your income? NO income! And no...

Taxation for Individuals – Most Recent Developments Part 3

by | May 14, 2014 | Tax Laws

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Continuing on Taxation for Individuals.  Please see: Part 1 Part 2 Determining gain or loss after a foreclosure A taxpayer who had her home foreclosed after she was unable to rent it claimed ordinary loss, but the IRS recognized capital gain.  The fair market value of the home was less than the outstanding mortgage balance […]

Follow Continuing on Taxation for Individuals.  Please see: Part 1 Part 2 Determining gain or loss after a foreclosure A taxpayer who had her home foreclosed after she was unable to rent it claimed ordinary loss, but the IRS recognized capital gain.  The fair market...