Estate Tax-Federal Estate Tax

50 somethin’ asked:


is there any truth in these tax estate sales at all? The infomercial on tv looks convincing, but as they say, If it sounds too good to be true, it probably is! Does any one know if this can be done? ANy legitimacy in this at all ? Thanks

Julie Matthews

Jack P asked:


What’s the assessment? If his is the same as mine in Central New York he would be paying in the vicinity of $900,000. per year. I would really like to know these facts!

Abbie Wynkoop

Sir Rupert asked:


Hello. My wife and I are being given 3 acres of land by her parents. The land is valued around $35000. How could they avoid paying a gift tax on the land. We know that a gift under $10000 is non taxable. Could her parents gift her each $10,000 worth of land, and then gift me the remaining amount, or is it for family members only. They are joint owners on the land. We will be meeting with a real estate lawyer, but just would like some preliminary info. Thanks for any help.

James

jann asked:


I need someone to take a lien on my property for $10000.00 so that I can pay my property taxes.

Beau Bugler

cw97 asked:


If person 1 and 2 are on the title of condo in Chicago and want to change the title to Person 2 and 3 what are the taxes that would implicated without dealing with any issues with the mortgage. Also what would be the process of changing the title?
Also how is the value of the property assessed? Is it based on the property tax value or the “sale” price, since the title would just being modified from keeping person 2, removing person 1 and adding person 3 could I be sold the property for a nominal amount of $100 and be taxed on that, instead of another price?

Zane Dumaine

Lanes asked:


I own a house in Nassau County, New York jointly with a partner. The house is valued at about $400,000. He will quitclaim his share to me (as a gift). I want to minimize real estate transfer taxes. How should form TP-584 be filled out?

Denny Benchoff

mel asked:


Does anyone know how much tax you have to pay for a home in Benson, AZ? I’m buying a home for 225,000, and now my mortgage company is saying I have to pay 514.45 a month in tax alone which is too high for my debt/ loan ratio and I wont get the house. $514 just seems a little too high for such a remote area.
Also, if you know any websites that I can look up on my own. I tried Google-ing it and I got mean annual tax, which is on a home half the price of the one I want.

Lu Buckey

Mirch asked:


I live in Houston, TX where the housing market wasn’t hit as bad as other U.S.markets. Would it be better to become an agent now (before the tax credit period expires) or in the summertime? (I’m a teacher now, great job stability, but I’m not a happy teacher.)

Kacey Kirsch

Bob K asked:


Just looking for an estimate, or if you live there, a real example. Thanks.

Nancy

MissingYou asked:


The question is very confusing. They state

A tax assessment for the addition of a sidewalk in a neighbor would be referred
A. ad valorem tax
B. special assessment tax
C. servitude
D. Encroachment

Why the answer is A??? I think the answer is B because the definition it states like Special Assessment is real estate tax for improvement.

Johnathon Westerberg