Understand IRS Real Estate Auctions

While the IRS will auction off just about anything to satisfy a tax bill, seized real estate gets people excited. Here are the basics of IRS real estate auctions you need to know.

The Basics of IRS Property Auctions

Buy a home, car, helicopter, NFL team or whatever for one measly dollar. Ah, we must be talking about IRS property auction hype.

The New Jersey Zoning Officer's Job

Explains to job duties and requirement of a typical Zoning Officer's job in New Jersey. The Administrative Officer (known locally as the Zoning Officer) under the Municipal Land Use Law is the municipal official designated by local ordinance or statute with enforcing the provisions of the zoning ordinance. Due to proposed large scale development which many new Jersey municipalities will be faced with in the coming years, the Administrative Officer is a particularly vital and valued employee of the municipality. The key issues confronting many New Jersey municipalities are should our municipality grow; if so, how much and when? These are crucial questions. Municipalities need some local official to focus exclusively on these questions; an official whose ultimate responsibility is to assist the mayor and council in protecting and improving the quality of life in the community.

Recommendations Of New Jersey's 1997 Property Tax Commission

Recommendations of the Governor's 1997 Property Tax Commission that through August 2, 2001 have been enacted by law or by regulation and those which have had just bills introduced. Governor Whitman asked the Property Tax Commission she created in 1997 to study the property tax problem in New Jersey and offer recommendations that would help county, school, and municipal officials ease the burden of property taxes on New Jersey residents. The 60 specific recommendations of the Commission are listed in summary form below. Following the specific recommendation is a citation to the law, regulation or bill that followed or a statement that (No law, regulation or bill has been forthcoming). It appears that after the 60 recommendations of the Governor's Property Tax Commission were issued in September of 1998, 11 recommendations had one or more bills introduced to implement them, 6 recommendations were implemented by Executive Order No. 88, and one recommendation was implemented by a constitutional amendment.

Selling Your Business - Deal Structure and Taxes

When you sell your business, getting good tax advice before the deal is structured is worth its weight in gold.

The 1031 Tax Deferred Exchange: What Are the Requirements?

Learn the ins and outs of a 1031 tax deferred exchange and take advantage of ways to preserve the equity in your property.

IRS Offer In Compromise

Internal Revenue Service (IRS), operating under the aegis of the United States Department of Treasury, offers a special program called ‘offer in compromise’ for taxpayers who are unable to pay their full tax debts. Under the IRS offer in compromise program, a settlement equivalent to less than what the taxpayer actually owes can be negotiated. The application and scrutinizing processes are often lengthy. More than half of the applications for IRS offer in compromise are rejected. So, taxpayers usually opt for IRS offer in compromise as a last resort.

Top 7 Ways to Minimize Your Income Taxes

Are you paying too much in income taxes? Are you getting all the credits and deductions you are entitled to? Here are 7 tips to help you minimize taxes and keep more in your pocket:

Offer In Compromise

A taxpayer in financial difficulties has a number of options to resolve his federal tax debts. Offer in compromise is an ideal solution for a person on the verge of financial break down. It is a proposal specially designed to settle a taxpayer’s tax debts for less than what he owes. It is an agreement between the Internal Revenue Service (IRS) and the taxpayer. However, the settlement of the tax debts is subject to government discretion. Not all taxpayers can avail this benefit. Less than half of the offers in compromise requests submitted are actually accepted by the Internal Revenue Service. In case the offer is rejected, the taxpayer can move the IRS Appeals Office.

Tax Advantages for Mortgage Loan Interest

When consumers purchase a home, the mortgage interest deduction and real estate tax deduction puts them above the standard yearly deduction allocated by the IRS, allowing them to deduct other expenses such as cash donations to your church, clothes you donated to charity, state and local income taxes, even tax preparation fees. In fact, the home mortgage deduction is on the rise, from about $20 billion in 1981 to $38.8 billion in 2002 to nearly $70 billion in 2003, according to estimates from the Joint Committee on Taxation.

Trends in Tax Ware

Tax Software and Paying Online, waves of the future...

1031 Exchange Odds and Ends

Delay capital gains taxes by exercising your right to use a 1031 Exchange.

IRS Helps Employers By Reducing Filings Required For Employees

If you own a business and have employees, you have an inherent feel for the joy of filing employee related tax documents. Alas, the IRS is cutting back on the burden.

1031 Exchange Lowdown Guide

A 1031 exchange or Like kind exchange is defined by section 1031 of the Internal Revenue Code or the IRC. According to IRC if an asset, most often some form of real estate such as land or building is sold and the proceeds of the sale are re-invested in a similar asset then there is no gain or loss and the deferment of the capital gains taxes is permitted.

1031 Exchange Info Guide 101

A smart tax saving tool that is gaining popularity among the real estate investors by enabling them to defer the entire capital gains tax is 1031 Exchange.