Hi, Website Visitor. Here are your Articles for August 6, 2008.
Rea & Associates, Inc. Announcements
Congress Closes Loophole on Sale of Former Rental and Vacation Homes
The new reduced home exclusion affects those of you who used your home as a vacation home or rented it out prior to using it as your principal residence. What does this mean when you go to sell? Find out more about the Housing Assistance Tax Act of 2008.
When was the last time you reviewed your vendor listing? Knowing your vendors could eliminate potential losses from your company's already limited funds. Make sure that a vendor is legitimate by following these guidelines.
In today's climate of low interest rates and asset values, techniques that pass assets to your family while you are alive, at reduced or no gift tax cost, offer many opportunities.
We take great care in the preparation of our articles and announcements. We also have a process of reviewing articles when major changes take place. The business, legal and tax climate is constantly changing especially when reviewed on an industry basis.
It may be very important to consult with us or your Investment Advisor before implementing ideas contained in articles and announcements. Many ideas have complexities and nuances that cannot be adequately detailed in the articles or announcements. We are not responsible for errors, misinterpretations or omissions related to these articles or announcements. Nor are we responsible for the applicability to your personal, business or tax situation.
Pursuant to Circular 230 promulgated by the Internal Revenue Service, if this email, or any attachment hereto, contains advice concerning any federal tax issue or submission, please be advised that it is not intended or written to be used, and that it cannot be used, for the purpose of avoiding federal tax penalties unless otherwise expressly indicated.
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