The last seven years has seen tremendous appreciation in home prices. This brings up the issue of home capital gains tax issues for people when they sell. Home Appreciation and Capital Gains Owning home is considered part of the American Dream. Unless you are extremely unlucky, homeownership leads to tremendous wealth building. You simply sit in your home, make the…
Tag: Exemptions
Don T Panic Because Of Overwhelming Debt
Overwhelming debt doesn’t just happen overnight. The majority of the American public live from paycheck to paycheck. It only takes one accident or illness to put you behind in your debts. Once you are behind it is possible that you may never catch up. This does not make you a bad person, just one that is in need of rescue.…
Connecticut Bankruptcy Law Exemptions That Help Protect Creditors
There are certain exemptions related to the Connecticut bankruptcy law that helps protect creditors when a debtor files bankruptcy in Connecticut. One also has the choice in Connecticut to avail of federal exemption statutes instead of the Connecticut exemptions, and it is also possible to use federal supplemental exemptions in conjunction with the Connecticut exemptions. Debtors don’t Necessarily Lose Everything…
What Is A Duty Free Exemption
The duty-free exemption, also called the personal exemption, is the total value of merchandise you may bring back to the United States without having to pay duty. You may bring back more than your exemption, but you will have to pay duty on it. In most cases, the personal exemption is $800, but there are some exceptions to this rule,…
4 Reasons People Get Into Trouble With The Irs
You don’t want to mess with the Internal Revenue Service. One small mix-up when handling your finances can cost you big. For example, in recent years the IRS has increased its filing of levies, liens and wage garnishments. In fact, in 2004 alone, approximately 2.5 million levies were filed. The experts at JK Harris & Co., one of the nation’s…