Finance: Two homes can compound tax woes
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If you're lucky enough to own two homes, you may have recently packed up and moved to your summer residence. That's nice, but it can have tax consequences that are anything but a day at the beach.
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More than 2m homes are now worth more than the level at which inheritance tax is levied, a report says.
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The looming political battle over how to reform the tangled US income tax code could get ugly. But one option, a tax aimed at boosting savings, holds promise.
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Two pieces of legislation are intended to protect private wealth and create a more coherent tax code.
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If you&#39;re looking to buy a car, or get rid of one, changes to the nation&#39;s tax code can make it wise to act before Jan. 1. Two new tax rules relate to autos, trucks, boats and other vehicles.
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Across the country, local governments are feeling a financial strain driven largely by the nationâs real estate downturn and some are considering higher taxes.
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Whether it's a career change or retirement, marriage or divorce, there's a tax involved.
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You can deduct all or part of the costs of your home PC, depending upon its use. But put on your thinking cap before you tackle this gnarly issue.
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There's no question that our tax code causes a lot of confusion. But don't let confusion or misinformation from others lead to an audit or cause you to miss out on a deduction.
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If one spouse saves and the other spends, it matters to more than just the bank account.
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Q My wife and I owe $45,000 on two loans for our son's college education. The interest is 5 percent on a loan of about $33,750 and 8 percent on a loan of about $11,250. We're thinking of paying them off with a home equity loan or line of credit, which would give us a tax deduction on interest payments. ...
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More deductions and tax-related strategies are available for rental properties than for just about any other type of investment.
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As mortgage defaults rise, more houses are being put up for auction -- and more people are seeing a chance to make big bucks. But there are risks
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With the holidays upon us, the thought of year-end tax planning is likely to induce headaches rather than visions of sugar plums. But if you want to boost
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There's a big difference, taxwise, between inheritances and gifts.
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About three dozen area residents could get an unexpected windfall -- they are owed refunds by the Internal Revenue Service. They are among more than 6,400 refunds owed to taxpayers in New York that have yet to be claimed.
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The looming political battle over how to reform the tangled U.S. income tax code could get ugly. But one option, a tax aimed at boosting savings, holds promise.