Year: 2008
Big Tax Losses in 2008? Consider a Roth Conversion
Self-employed persons or small business owners such as home builders with big tax losses for the year should consider converting their traditional…
Own Rental Real Estate? You Need an LLC to Protect Yourself
Anyone who owns rental real estate in his or her individual name is taking a tremendous risk. Suppose your tenant, or one…
IRS Offers Tips for Year-End Donations
This is from IR-2008-138, issued today by the IRS: WASHINGTON — Individuals and businesses making contributions to charity should keep in mind several…
Expatriates Beware – New Taxes Apply
Tired of all the taxes here in the good ole USA and thinking of moving to a tropical isle with little or…
North Carolina Has 4th Highest Beer Tax
As a beer aficionado, I was surprised to learn today that NC has the fourth-highest tax on beer in the nation, at…
NC Gift Tax to be Repealed?
Budget negotiators for the North Carolina House and Senate agreed on tax breaks in the 2008-09 spending plan, which include, most notably…
Report Foreign Bank Accounts Totaling Over $10,000
The IRS is increasing its efforts to track down American taxpayers who have undeclared foreign bank accounts (including US citizens living abroad)….
IRS Announces 2009 Standard Mileage Rates
The Internal Revenue Service has issued the 2009 optional standard mileage rates used to calculate the deductible costs of operating an automobile…
“Aging in America” Recording Available on NAELA Webiste
A recorded version of the National Academy of Elder Law Attorneys (NAELA)’s public webcast “Aging in America: How to Plan for it”…
Reverse Mortgage Limits Double
The Housing and Economic Recovery Act of 2008 more than doubled the home value (now up to $417,000) to be used nationwide for establishing…
