Newsflash: TAX QUESTIONS? Look here first!

Hi everybody!Tax questions come up often, and I’d like to make sure that accurate tax information is easily available. I’m going to start this off with a bunch of links to relevant information from the IRS, the only online source you should trust for US tax advice. Many of us are in the US, but if you know where the tax information for your country is, please add a link so we can be more inclusive.And remember: If the publications and documents from the people who write the tax rules don’t give you a clear answer, it is time to stop messing around on the internet and talk to an accountant. We don’t know your whole situation, your money is none of our business, and we are not accountants.United States:Taxes on the sale of a home, don’t forget to check out the link to Publication 523, and the additional information if you’re doing an installment sale.Gift taxes, and the much misunderstood lifetime limits. Frankly, if you’ve got enough money that this is a potential issue, you’ve got enough money to hire a lawyer and/or accountant to keep you on the straight and narrow.Taxes on rental income, complete with links to relevant publications.Your rental empire and/or real estate salesperson is a small business. Here’s some information for taxes on small businessesWhat about property taxes? Those are regulated by state and local law. For more information, do a search for “[your county], [your state] County assessor’s office.” Be careful not to leave out the state because some county names are common; Clark County Nevada and Clark County Washington are very different places.Got more tax information you’d like to share? Please feel free to add in the comments!

Read more at https://www.reddit.com/r/RealEstate/comments/8cte9n/tax_questions_look_here_first/?utm_source=ifttt

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