FIRPTA Foreign Investment in Real Property Tax Act The United States Federal Tax Law requires that a foreign citizen who sells real estate owned in this country pay taxes on the profit of such sale. To insure that the tax is paid, 15% of the proceeds at closing are withheld and transferred to the United States Treasury. The 15% withholding is mandatory if the seller is a … Keep reading... about FIRPTA Foreign Investment in Real Property Tax Act
Taxes
Obama signs Homebuyer tax credit bill extension
President Obama signed an extension of the $8,000 tax credit for first-time buyers. The extension adds money for some move-up buyers. The maximum tax credit remains $8,000. Anyone who has not owned a home within three years is considered a first-time buyer. Your purchase must be under contract by April 30, 2010. Your purchase must close no later than June 30, 2010. After Dec. … Keep reading... about Obama signs Homebuyer tax credit bill extension
Like-Kind Exchange of Vacation Homes Under I.R.S. Section 1031
Like-Kind Exchange of Vacation Homes Under I.R.S. Section 1031 ATTORNEYS' TITLE INSURANCE FUND, INC. February 25, 2008 **** FUND NEWS **** The following is a summary of new I.R.S. safe harbor regulations for the exchange of vacation homes from ATTORNEYS' TITLE INSURANCE FUND INC. The Internal Revenue Service ("IRS") has just released safe harbor regulations, … Keep reading... about Like-Kind Exchange of Vacation Homes Under I.R.S. Section 1031
Property appraiser breaks down numbers
By NEIL HUGHES STAFF WRITER Charlotte Sun-Herald Newspaper. Reprinted with permission. January 31, 2008 Frank Desguin wants you to know he does not raise your taxes. That message was the one thing the Charlotte County Property Appraiser hoped to get across at Thursday night’s Northwest Port Charlotte Community League meeting. Desguin took the opportunity to explain how his … Keep reading... about Property appraiser breaks down numbers
Florida Property Tax Amendment
Following is the text of the proposed amendment to the Florida Constitution to the Save-Our-Homes amendment. Your Suncoasteam believes that there should be an open discussion regarding the benefits and problems of this amendment. Your comments are welcome. Please post them below. PROPOSED CONSTITUTIONAL AMENDMENT TO BE VOTED ON JANUARY 29, 2008 NOTICE OF ELECTION I, Kurt S. … Keep reading... about Florida Property Tax Amendment