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I try to add tax blog articles weekly on tax topics that may be interesting to you. Please browse. If there is a topic you would like to see here or would like to more information on, please contact me.
I try to add tax blog articles weekly on tax topics that may be interesting to you. Please browse. If there is a topic you would like to see here or would like to more information on, please contact me.
If you’re a homeowner and selling your principal residence two questions: Did you live in it as your only home (principal residence) for at least two years? Was the time period lived there end within five years of the home sale date? If you answered both of the above questions as Yes and you did … Selling a Home . . .There May be a Tax Break for That. . .
Partially correct. Most retirement distributions (withdrawals) are taxable. However, the distribution might qualify for exception to the Early Distribution Penalty (no additional 10% tax) if: Taxpayer is under age 59 ½ and no other early distribution tax penalty exceptions apply Distribution is from an Individual Retirement Account (IRA) Taxpayer qualifies under the IRS rules as … Retirement Withdraw for Home Downpayment is Tax Free? Right?
Most inheritance distributions are usually tax free, especially if the moneys received are from a regular savings or checking account (or the equivalent) or are from life insurance not paid to the Estate. However, if the money received is from a stock fund sale, IRA or asset sale (e.g. house or farm) then the proceeds … Grandpa Died and I Get a Tax Bill?