Mar 31 2010
Unemployment Compensation
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The Internal Revenue Service (IRS) is helping unemployed workers out a bit. While all unemployment compensation received in 2008 is taxable, the first $2,400 in unemployment that each taxpayer receives is not subject to federal taxes. If both spouses are unemployed, each spouse can deduct the first $2,400 of unemployment compensation they received during the [...]
Mar 9 2010
Short Sales – What you need to know about mortgage debt forgiveness.
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With the value of properties dropping over the last couple of years many people have been forced to sell their homes for less than they owe on the property. When this happens, the bank can require that the people who owe the mortgage still owe the outstanding balance or it can forgive the outstanding amount, [...]