Archive for April, 2006

If I bought real estate lower than its total assessed tax value, can I have the tax re-evaluated (decreased)?

Monday, April 24th, 2006

HelpfulGuy208646 asked: I live in Fairfax VA, and I recently bought some property for cheap, and it was below its assessed tax value. My taxes are pretty high right now, so I was wondering if there is a way to have my real estate taxes re-evaluated so my taxes will decrease?Mason Keding

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What is the estate tax liability for a spouse who is a non-U.S. citizen?

Friday, April 21st, 2006

Andrew asked: My mother-in-law is a UK citizen who has lived most of her life in the US. We’re worried that if my father-in-law dies she may be heavily taxed on the assets that she inherits. We know that non-U.S. citizen spouses are liable for different estate taxes than citizen spouses, but we’re [...]

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Where can i find a table or calculator to figure out the maryland estate tax liability?

Friday, April 21st, 2006

onlinestuff3 asked: I am trying to figure out how much state estate tax would be due for a maryland couple with a 7,500,000 estate. The federal side is easy but I cannot seem to find a Maryland table.
In case anyone is wondering they already have an A/B trustRobby Figurski

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Does anyone think it’s fair to pair the cost of living raise with the Estate Tax?

Tuesday, April 18th, 2006

Nancy L asked: Liberals want to raise the minimum wage from $5.15 to $6.75 (over 3 years). The 1st raise in a decade. This would effect roughly about 5.8% of the workforce. Mostly women. A raise would still keep most of them below the poverty level.
The conservatives want to make this law contingent on whether [...]

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What is the tax difference between w2 income and passive income from real estate?

Wednesday, April 5th, 2006

Tim N asked: From my understanding if I make 100k as a single person, I pay 28% federal tax, plus state, plus medicare etc with a W2. What about if I make 100k in passive income from several real estate properties. How much taxes will I pay? What is the difference?
Thank you! Basically, what is [...]

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