Archive for July, 2009
July 31st, 2009 | 
Author: 
btwitkin asked:
I am so confused by this one thing.
I am so confused by this one thing.
My mother passed away a couple of weeks ago. She had 1.3M in regular accounts and another 230K in retirement accounts. So everything all together is about 1.5M
I know there is no inheritance tax and no federal inheritance ot estate tax (it is under 3.5M), but I cannot figure out if there is a New York Estate Tax. I keep reading different things, from there is none, to that there is a tax over 1M.
Does anyone know?
Ferne Franssen
Posted in 
Tags: 
ycl asked:
Where can I find tax related laws and regulation for Saipan?Is there any tax for align to invest in real estate properties in Saipan? Is it true that only native Saipan people may obtain real estate ownership?
Gennie Lanfear
Where can I find tax related laws and regulation for Saipan?Is there any tax for align to invest in real estate properties in Saipan? Is it true that only native Saipan people may obtain real estate ownership?
Gennie Lanfear
Ej asked:
Last year I was able to tax a $9,000 tax deduction for interest, principle, and insurance on my taxes and received a decent tax credit. I am renting my property out and will incure a loss of about $250 per month and a depreciation amount of $400 per month for a total of $7,800 for the year. Will my tax credit be better or worse? I am ignorant as to how the regular deductions are taken vs. a loss of income? Thanks for the help!
Matt
Last year I was able to tax a $9,000 tax deduction for interest, principle, and insurance on my taxes and received a decent tax credit. I am renting my property out and will incure a loss of about $250 per month and a depreciation amount of $400 per month for a total of $7,800 for the year. Will my tax credit be better or worse? I am ignorant as to how the regular deductions are taken vs. a loss of income? Thanks for the help!
Matt
Libs should car pool with Ted K asked:
I’ve typed it into numerous search engines and ended up with a bunch of reality sites and scam sites.
I’m looking to buy a single family home & i’m looking for a web site that is solely controlled by the government to find one.
I’ve typed it into numerous search engines and ended up with a bunch of reality sites and scam sites.
I’m looking to buy a single family home & i’m looking for a web site that is solely controlled by the government to find one.
Thank you. best answer goes to who ever has the corresct web address.
Jasper Hauswald
bibi asked:
Refering to my previous subject “Estate tax and inheritance tax”, with all my online research and double confirm from one of the answerers. If my father’s total net asset is less than 1 million (With the tax exempt limit of 2 million as per 2006), there is NO Estate tax and Inheritance tax. then here’s my another question:
I know that some peoples are giving gift US12k per year to each of their hiers free of gift tax. We were thinking of doing that as well, but with what i discover from my previous question, if all the inheritance from my dad is going to be both estate and inheritance tax free, then what is the point of using the gift strategy? Or am i right that the gift strategy is only needed by those who has more than 2 millions asset?
Roscoe Demaline
Refering to my previous subject “Estate tax and inheritance tax”, with all my online research and double confirm from one of the answerers. If my father’s total net asset is less than 1 million (With the tax exempt limit of 2 million as per 2006), there is NO Estate tax and Inheritance tax. then here’s my another question:
I know that some peoples are giving gift US12k per year to each of their hiers free of gift tax. We were thinking of doing that as well, but with what i discover from my previous question, if all the inheritance from my dad is going to be both estate and inheritance tax free, then what is the point of using the gift strategy? Or am i right that the gift strategy is only needed by those who has more than 2 millions asset?
Roscoe Demaline