Estate Tax-Federal Estate Tax

John H asked:


There are a number for programs that talk about buying house for $.10-.15 on the $1, but they don’t address the negative aspects of this type of real estate transaction. What are the pitfalls and why don’t more people do this? I’m assuming there are more legal issues but would like to talk with people that do this. Feel free to email me to talk more in depth.

Ivy Hamman

harkkam asked:


Are estate taxes, progressive, regressive or flat. Its for Homework.
Yes I am a strong liberal and I think that telling me that just because I envy that thats a unfair reason, and thats why taxes should be abolished. Lawyers dont really work anyway so dont worry about saving them time. Only the super rich concern themselves with such taxes. Your talking about supply side economics, if I asked you to give me ten dollars and I said “trust me the economy will be better…just trust me” I dont think you will give me those ten dollars. SImply put getting rid of an estate tax would more burden on the poor. And I think the rich can bear to loose a few.

Dong Ariola

pc asked:


There is a deed to a home that is listed under my mom and dad. My dad just passed away and now I want to take him off and put myself on with my mom.

I will however not be refinancing the current mortgage which only has my mom on it.

Will I be able to claim the real estate taxes that are paid via escrow for this property even though I’m not on the mortgage?

And if so, can I only claim the months that I’m on the deed (ie. from May until Dec 2007) or may I claim the whole year?

And is there any way that I can take my mom off the deed once I put my name on the deed? Thank you.

Ivelisse Stabb