Tax Liability

Aug. 28, 2014

Monterey Peninsula Real Estate - What is Title Insurance?

Monterey Peninsula Real Estate - What is Title Insurance?

As real estate is the nation’s largest market, the purchase and sale of real estate is essential to the health of the US economy. The same thing is true on the Monterey Peninsula and in Monterey County.  However, these transactions are never ...

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Dec. 5, 2013

Short Sales NOT SUBJECT to State or Federal Income Tax for Cancellation of Debt

Short Sales NOT SUBJECT to State or Federal Income Tax for Cancellation of Debt

Just in time for the holidays! This is very big news for Californians involved in short sale transactions. This is not a temporary fix, but rather a long-term solution in addressing tax liability on short sales ...

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Nov. 27, 2013

California Short Sale Tax Liability Update

California Short Sale Tax Liability Update

I would be remiss if I did not include the following disclaimer prior to diving into this issue:

REALTORS® should encourage their clients to seek the advice of a tax professional regarding the tax consequences of a short sale.

As most of you know ...

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