November 20, 2008
Cash-out from sale comes with a tax bill
Question: I own a rental property that is 12 months from having its mortgage paid in full. I am considering an Internal Revenue Code 1031 tax-deferred Starker exchange for a rental property closer to my home. Must all the cash realized from the sale be used as a down payment on the property to be acquired, which will be of higher value, or can I take some cash out and just carry a larger
Tax Hike Would Help Reduce County s Debt
A property tax hike is likely on the way to Rutherford County. Under the proposal, property owners would pay an extra seven cents in taxes. The money would be used in part to give county employees a pay raise over the next three years.
Hong Kong to Consult Public on Sales Tax
With Hong Kong's economy in its best shape since the Asian financial crisis, the government will consult the public on a plan for a sales tax in midyear, the financial chief said Wednesday.
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