When a house is foreclosed, or there is a deed in lieu of foreclosure, some mortgage companies make a deal with the owner or tenant. Usually the deal works like this: the owner agrees to leave the property on a certain date and broom swept condition without taking any...
Innovative Strategies For Winning Tax Controversies, Business Structuring And Estate Planning
taxes
Hillary Clinton Proposes Tax Increases
Here we go again! It is campaign season and some candidates just cannot wait to say how they are going to penalize business. Hillary Clinton is proposing a new scheme where businesses that manufactured things will be tax differently than businesses that are “trading”...
More Taxes – Time after Time
More Taxes – Time after Time Wake up and smell the coffee! Its political season again and unfortunately it appears most candidates for State Governors and Congress are advocating a “tax the other guy” approach. “We need more money for the schools!”-Tax the Rich. “We...
Rob Andrews Resigning from Congress
Once again, New Jersey is being unnecessarily dragged through the mud. First, the unfounded attacks against Gov. Christie. Then, not correctly attributing the SuperBowl to the correct State (the Meadowlands is in NJ, not NY), and now Rob Andrews is getting the...
Trick or Treat Obama Style
As unemployment climbs to new highs, President Obama is claiming credit for 640k new jobs “created” be spending taxpayer’s money. The $1 trillion dollar stimulus went to big banks and union industries that are rapidly lowering their workforces and eliminating jobs....
Government Investments are Spending our of your pocket!
Today, President-elect Obama announced government “investments” on road and bridges and the like. What he means is he intends to spend, spend, spend and tax, tax, tax. “Investments” sound nice, but it takes money out of your hands (and your children, and their...
With Government “Help” expect a Worldwide Depression
The Washignton Post reported on the International Economic Summit. The governments are “taking action” which means a government-induced economic disaster. If it is anything like the “help” of FDR’s “New Deal” it will extend economic dislocations for far longer than a...
2009 Social Security Cost of Living Adjustments
2009 Social Security Cost of Living Adjustments Beginning January 1, 2009, the maximum earnings subject to social security tax withholding increases to $106,800. The earnings needed for one quarter of coverage is $1,090. The threshold for coverage for domestic...
IRS Increases Mileage Rate to 58.5 cents
Due to rising gas prices, the IRS announced the mileage rate will increase by eight cents to 58.5 cents a mile for all business miles driven from July 1 through Dec. 31, 2008. The new rate for computing deductible medical or moving expenses will also increase by eight...
IRS Drops Interest Rates
IRS Drops Interest Rates The Internal Revenue Service announced June 2, 2008 that interest rates for the calendar quarter beginning July 1, 2008, will drop by one percentage point. The new rates will be: five (5) percent for overpayments [four (4) percent in the case...