Cash Flow Planning for Life - Helping you reach your personal & professional financial goals.

Cash Flow Planning for Life

Helping you reach your personal & professional financial goals.

Archive for February, 2011

#1 – How the IRS Treats Short Sales

Posted by Mark On February 24th

How the Internal Revenue Service Treats Short Sales

This is the first tip in our series 7 Things You Should Know About the Tax Consequences of Debt Forgiveness which is also available as a free eBook from your Fort Myers Accounting Firm.

With all of the foreclosures and short sales occurring all over the United States in recent years have you ever wondered how the I.R.S will treat your short sale when it comes to filing your income tax? If this thought has occurred to you, you’re certainly not alone. Please read on…

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Stress from Foreclosure or Short-Sale

With the real estate market crisis, more and more families have been forced into foreclosure or finding other ways, such as a short sale to eliminate their mounting debt. However, many are unaware of the tax consequences of such actions. Our goal is to ensure that you understand exactly what is involved in debt forgiveness, so that there are no unpleasant surprises when you file your taxes.

During the next few months, we’re going to teach you about The Tax Consequences of Debt Forgiveness. You will learn about:

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So you have started looking at how…

your social security benefits will factor into your retirement plan.

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If you are divorced, your ex-spouse may qualify…

This is the 7th tip in our series entitled “The Nuts & Bolts of Social Security in 7 Easy Tips.”

…for social security benefits on your earnings.

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