The Skinny On 1031 Exchange: Maximizing Profits By Minimizing Your Tax Liability A 1031 exchange refers to Section 11031 of the Internal Revenue Code which was passed in 1990 Normally, when you sell all real and personal property, the tax code requires the payment of the Capital Gains Tax That is to say, when you sell your office for $100,000 more than you bought it for, you must pay the gains upon those earnings However, after the passing of a 1031 Exchange that is no longer necessarily ...

Deciding Whether To Rent Or Buy A Home Where you live is one of the most important decisions that you'll make Choosing the right house or apartment is generally a mix of deciding on a location, distances from work or school, and how much it's going to cost you each month When trying to make this decision, however, another important decision must also be made you need to decide whether to rent your new home, or to take the next step and buy it Each option has ...

Free Money For Your Retirement? You Betcha! It can be more than a little discouraging to start making retirement planning calculations You'll usually find that to achieve the annual retirement income you want, you need to be saving a lot more than is practical Suppose, for example, that you use a program like Quicken or Microsoft Money to determine that your retirement savings should equal to $5,200 a year--which is the same as $450 a month (This savings amount will produce roughly $15,000 a year of retirement income ...

The Legalities And Issues With An IRS Levy An IRS levy is an order from the Internal Revenue Security directing TVA to withhold a specified amount of an employee's pay to satisfy a tax debt If the IRS determines that we owe back tax then it may issue an IRS levy requiring the deductions from the pay till the back taxes are paid They may ask the person to sign an agreement of consent authorizing the amount to be deducted The IRS levy can allow an ...

4 Simple Steps to Reduce Your Taxes In 2006 Does Tax Season get you down? Here are 4 simple steps that any small business owner can take to lower your tax bill this year STEP 1: Understand How Serious Your Tax Problem Is Are you aware of just how much in taxes you are paying? Here's how much the average family spends on various consumer categories -- as a percentage of income You must realize that it's not how much you spend on taxes ...

Savings Bonds Savings bonds are a great way to save money for your future Either purchased yourself, or given as a gift, savings bonds ensure you that you will have at least some amount of savings later on Although you may already know a little about savings bonds, either owning them yourself or having given one as a gift, you may not know that there are different types Each type has its own set of rules and also different ways that ...

What Is A Wage Garnishment? A wage garnishment is a legal procedure through which a percentage of a person's earnings are withheld by an employer for the payment of a debt Most wage garnishments are made by court order Other types of wage garnishments are of legal or open procedures made by the IRS or state tax collection agency levies for unpaid taxes and federal agency administrative garnishments for non-tax debts owed to the federal government Wage garnishments do not ...

Free Money for Your Retirement? It can be more than a little discouraging to start making retirement planning calculations You’ll usually find that to achieve the annual retirement income you want, you need to be saving a lot more than is practical Suppose, for example, that you use a program like Quicken or Microsoft Money to determine that your retirement savings should equal to $5,200 a year—which is the same as $450 a month (This savings amount will produce roughly $15,000 ...