One of the major dilemmas that both married and unmarried home owners face is what happens to the $250/500k capital gains tax exclusion if you sell your home after owning it or living in it for less than two years?

In these situations above you may be denied the $250k/$500k exclusion and have to pay tax on your home sale profits. If you have owned the home for less than a year you may even have to end up paying tax at your top income tax rate (up to 35%), instead of at the 15% long-term capital gains rate.

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When doing an IRA comparison it is imperative to know the differences between the two types available. Here we look at three very important issues to consider.

When you are looking to invest for retirement it is important to run an IRA comparison to see which of the two types of IRAs is going to work best for you. The two types that you can choose from are a traditional IRA or a Roth IRA. Either option will save you money, however each one has specific benefits and you will need to carefully look at the difference as choosing the wrong one can actually take money out of your pocket.

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Who pays the
income taxes, and for whom does it benefit? Is every income accounted for
income tax?

With all the talk
of the rich are not paying their fair share of taxes and the tax cuts earlier
this decade only went to the rich, here are some facts to contemplate and you
as the reader can make up your own opinion.

• The
  statement above could be true when you look at it from a pure dollar point
  of view.  Someone who makes $500,000
  versus someone who makes $50,000, if they each get a 5% tax cut, the first
  one pays $25,000 less in taxes, where the second one only pays $2,500 less
  in taxes.

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Tips on getting tax relief.

If you are dealing with a tax lien against your property a tax relief attorney will work with the government to remedy the lien.  Notice of Federal Tax Lien is a claim taken against property to secure that a debt will be paid.  Usually to protect the governments interest a notice to the public is filed. The lien is placed on the property when a taxpayer is made aware of the debt and does not pay it within 10 days.

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This article illustrates a little known tax deduction that can be taken if you suffer an unreimbursed property loss. It also shows that a good insurance agent / advocate is aware of these sorts of things and can therefore help protect you even when your insurance doesn’t.

With April 15th looming in the near future, many folks are scrambling to give Uncle Sam a good reason not to confiscate their hard earned pay. And while there are an assortment of arguments and deductions available to the creative taxpayer, an often overlooked one is the deduction for unreimbursed Casualties, Disasters, and Thefts.

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