On April 2, 2009 the U.S. Treasury rolled out a Voluntary Disclosure program (expiring on September 22, 2009). The goal of this program is to bring into the fold undisclosed foreign bank accounts and with them, a lot of tax revenue. The voluntary disclosure program is confiscatory and will be a tough pill to swallow … Read more
A tax deferred exchange or 1031 exchange is a strategy or tool that can be used by an investor to sell property, as long as it qualifies, and then buy another like-kind property. Since the transaction is treated as an exchange rather than a sale, investors qualify for a deferred gain. The law can be … Read more
Fear and concern over yields with safe secure money should be at the forefront for any retiree or person with limited resources. Especially if maintaining a current lifestyle is important and the goal. Click on this link ==> Endless Lead Flow Review, to discover a lead generation system that will teach you how to get … Read more
SAFE HARBOR GUIDANCE Tax deferred exchanges have been part of the U.S. Tax Code since 1921. Since that time, the government has approved certain methods to structure exchange transactions that are so called “safe harbors.” For example, in 1991 the U.S. Treasury issued final regulations that provided important guidance on the structure of delayed exchanges … Read more
The U.S. Treasury has hinted that it may again offer an amnesty program for taxpayers hiding undeclared money in offshore accounts. Just before Christmas, IRS Commissioner Doug Shulman commented about the success of 2009’s amnesty. He suggested that people with undeclared foreign accounts would get a second chance to come forward. Will another amnesty be … Read more