Is there a tax on cash? What about a cash inheritance? How do I understand what tax my father-in-law owes on his cash? Q: My wife's father is close to death and he has moved all of his investments into his bank in the form of cash. He said that was done to help my [...]
Should I give my kids the house even if they won't speak to me? When this question came in, it made me incredibly sad. When it comes to families, issues relating to Love, Money + Real Estate abound. In this case, the house represents so much more than four walls, a ceiling and a floor: [...]
After the housing bubble burst and the recession hit, many homeowners had trouble paying their bills. Some lost their homes, while others opted to sell their homes in a short sale. This gave buyers a great opportunity to purchase homes at less-than-fair market value. In a short sale, the lender agrees to accept less than [...]
A recent issue of Quill, the Society of Professional Journalists’ national magazine, featured articles that explained the benefits of taking on side projects—something many people consider doing in order to make some extra cash. In addition to having fun, the journalists who wrote the pieces honed their skills, made some extra money, and increased their [...]
This article was written by guest blogger Teri Cettina. Chances are good that when you budgeted for your summer travel, you remembered to build in the price of your hotel, the charge for your rental car and the estimated cost of your meals. But what about your hotel tax? Extra rental car fees? State and local [...]
Quit claim deed tax implications can come in many forms. Selling a house with multiple owners can be tricky when paying taxes. Q: I own a house with my brother that we bought for $243,000. We now plan to sell it for about $323,000. My brother lived in it until last year and then rented [...]
Deciding to rent your home instead of selling it is not an easy decision, particularly if you were not planning on becoming a real estate investor in the first place. Homeowners often make this choice when they have their backs against a wall—they cannot sell, but they also cannot stay. If you find yourself stuck [...]
2012 is coming to a close, thank goodness. It’s been a turbulent year. Perhaps, like me, you’ve gotten so absorbed in everyday trivia that you’ve lost track of time. Well, it’s time to look up and do some last-minute things to clear our heads, homes, and tax issues. 1) Do winter house-clearing. Empty out closets [...]
