064 Seller Financing and Installment Sale
Federal Tax Update:
House Chairman Dave Camp is indicating that he may release his tax reform package.
Top 12 IRS Scams
IRS is expected to release the guidance on the transition of the repair regulations
Capitalizing small expenses in your businesses instead of capitalization.
State Tax Update:
NC unclaimed property and foreclosure short sell
MN – Court rules that if you mail an appeal back to the MN Revenue Dept, you have 63 days to appeal
CO – Dept of Revenue brings in more revenue than expected on the marijuana sin tax
MD – “House of Cards” threatens to leave MD without tax breaks
UT – Won’t link the sales tax rate to the internet sales tax
AL – proposal to eliminate the sales tax on food
ME – issues NOL guidance
NJ – martial deduction guidance
Question – I’m buying an investment home and would like a 0% seller finance interest rate. Can I do that?
Main Topic – Installment Sale Income Form 6252 and Seller Financing
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Navigating The Tax Headline of the Week
NewsletterQ&A coming soon.
Tax TipsThe Additional Child Tax Credit is available on dependents under the age of 17.
- CIRCULAR 230 DISCLOSURE "We are required by IRS Circular 230 to inform you that the advice contained herein (including all attachments) was not intended or written to be used for the purpose of avoiding any penalties that may be imposed under Federal tax law and cannot be used by you or any other taxpayer for the purpose of avoiding such penalties."
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