Search results
Results from the WOW.Com Content Network
Sales tax does not apply to transfers of real property, though some states impose a real estate transfer or documentary tax on such transfers. All states provide some exemptions from sales tax for wholesale sales, that is, sales for resale. [8] However, some states tax sales for resale through vending machines. [9]
A levy imposed by the IRS on profits made from the sale of an asset, such as stocks or real estate — that profit is considered taxable income. Long-term capital gains A tax on assets held for ...
Generally, "like kind" in terms of real estate, means any property that is classified real estate in any of the 50 U.S. states or Washington, D.C., and in some cases, the U.S. Virgin Islands. Taxpayers who hold real estate as inventory, or who purchase real estate for re-sale, are considered "dealers".
It’s a federal benefit that allows you to exclude up to $250,000 of home sale gain from your income as a single taxpayer or $500,000 if you’re married and file a joint tax return.
A recent exception to this "state of being" principle is the "minimum essential coverage" tax under Internal Revenue Code section 5000A as enacted by the Patient Protection and Affordable Care Act (Public Law 111–148), whereby a tax penalty is imposed as an indirect tax on the condition of not having health insurance coverage; as reasoned by ...
On Aug. 17, the rules governing real estate agent commissions are changing. Some experts say the shift should eventually reduce costs for consumers.
Treasury Regulations are the tax regulations issued by the United States Internal Revenue Service (IRS), a bureau of the United States Department of the Treasury.These regulations are the Treasury Department's official interpretations of the Internal Revenue Code [1] and are one source of U.S. federal income tax law.
Health insurance premiums can be tax-deductible under some circumstances. Taxpayers who itemize may be able to use this deduction to the extent that their total medical and dental expenses ...