Article by Isaac Roy Section 1031 of the Internal Revenue Code generally provides that neither gain nor loss is recognized if qualifying property is exchanged for other qualifying property of a like-kind. In the above scenario, you may defer the payment of 0K in both federal and state taxes if you acquire another investment property … Read more
For most of us, our home represents our largest asset. Over time, the management of this asset can make a big difference in our overall financial outlook. One of the largest planning opportunities home ownership brings is the favorable tax treatment afforded the sale of a primary residence. The gain on the sale of a … Read more
Everyone with a traditional IRA should be looking into whether converting to a Roth IRA might make sense for them, because the ability to shelter future earnings from taxation is a very attractive feature of the Roth. The difficult part in doing a conversion analysis, however, is in forecasting the tax bracket that will apply … Read more
Top Ten 2008 Income Tax Law Changes By David Roberts Every year for whatever reason whether it be political or an exchange of favors for lobbyists, our Congress adds additional changes to our already complicated tax law. Sometimes these changes are beneficial, sometimes they are not, but this article will briefly examine … Read more
When is the right time to move from a province to province?, Should I file my taxes even though I have not made much money in the 2009 tax year?, Can I get any tax deductions for my medical costs in the 2009 tax year?, Can I claim my elderly parents or grandparents as my … Read more