Effective January 1, 2013, Uncle Sam may have an extra bill for you to pay. Do you have adjusted gross income (AGI) that exceeds $200,000 ($250,000 as a couple filing a joint return)? If you answered “yes,” your income will be taxed an additional 3.8% on the lesser of your investment income or any income…
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Interested in exchanging your vacation home for another closer to home? Well, it may not be as simple as you think. A lot of tax payers are unclear on what the IRS rules are for this type of exchange, and think they qualify when they really don’t. Personal use is a big factor in distinguishing…
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