IRS Wants More Penalties

The 1031 industry is in some ways brand new.  as a result, it’s pretty difficult to determine which firm you can trust.  to help sort through the wheat from chaff, we’ve put together a "due diligence list" below to help you more rigorously research firms to work with.  as always, consult your tax and financial advisors.
To better serve you, we’re looking to launch a feedback project on 1031 service providers (find out more link) .  if you think this would be valuable, please post  comment or email us at nesteggemail@gmail.com
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A great article on deferring capital gains on your primary residence.  Check out our more formal analysis:  1031-121 Analysis Link
2/10/05 Wall St. J. D12005 WL-WSJ 59840615
The Wall Street Journal(Copyright (c) 2005, Dow Jones & Company, Inc.)
Thursday, February 10, 2005
IRS decision Aids Home Sellers
Recent move Allows Those With Home Offices, Rental Units, to Defer Taxes onSome Gains
A RECENT decision by the Internal Revenue Service could provide considerable relief to many homeowners facing huge price gains when they sell. the sharp appreciation of house prices in recent years means many people could …

The Traditional IRA was the original individual retirement plan which came into existence when the Employee Retirement Income Security Act of 1974 was passed by Congress. the intent of these plans was to allow a worker, who was not covered by a pension or 401k plan, to accumulate tax advantaged savings for eventual retirement. In 1997, the Roth IRA came into existence which allowed workers even more flexibility in saving for retirement.
Other plans have come into existence for specialty purposes, but each of these is an offshoot of either the …

There are several retirement savings accounts, and 1 of the most popular is most likely the Roth IRA. Here, we ll look at some of the advantages and also drawback to Roth IRAs in comparison with other kinds of retirement savings accounts.
Absolutely no Tax Liability
The central advantage to Roth IRAs refers to their taxation status. all of the contributions made to Roth IRAs are made right after paying income tax. Because of this, the principal in the Roth IRA account grows without becoming subject to taxation. Additionally, withdrawals aren’t held …

Converting your Individual Retirement Account funds into a Roth IRA has never been easier — but that doesn’t mean it’s right for everyone.
The IRS opened up Roth conversions to everyone this year regardless of income and introduced a three-year window in 2010 to pay taxes on the conversion.
It’s a great opportunity to put together tax-free retirement income, but it’s not without its perils. Bankrate.com spoke with IRA expert Ed Slott about some of the traps taxpayers might not be aware of — and the dangers associated with them.
Trap no. 1: …

What are the Roth IRA distribution rules?
Do you owe taxes and penalties for early distributions?
If you know the distribution rules before you make a withdrawal, you’re far less likely to make a costly mistake.
For instance, did you know the IRS mandates that any withdrawals from your Roth IRA must be made in a specific order?
If not, you could find yourself hit with taxes and penalties from a distribution you thought was tax and penalty-free.
So make sure you know these Roth IRA distribution rules.
Roth IRA Distribution Order
The Roth IRA distribution rules …

Jacksonville mayoral candidate Rick Mullaney is one of two city employees whose pension is partially paid by the city general fund because his benefit is higher than what the IRS allows for someone his age.
The general fund is paying more than $30,000 of the 55-year-old Mullaney’s $152,000-a-year pension, a city spokeswoman said.
Typically, payments are made to retirees in the General Employees Pension plan are made from the pension fund, which gets its money from Jacksonville taxpayers and contributions from employees and then invests in the financial markets.
In the case of …

What are the Roth IRA contribution rules?
How much can you contribute? Do you qualify to make a contribution at all?
These are the questions you should be asking if you’re new to the world of Roth IRAs.
Generally speaking, the rules regarding Roth IRA contributions break down into the following categories:

Earned Income Rules
After-Tax Contribution Rules
Contribution Income Limit Rules
Maximum Contribution Rules

Each of these elements effects your ability to make a Roth IRA contribution, so learn them inside-and-out.
Earned Income Rules
The Roth IRA contribution rules require you to make contributions from eligible taxable compensation only.
So …

Your IRA contribution limit is set on an annual basis by the Internal Revenue Service (IRS). The limit is in place to stop highly-compensated individuals from unfairly benefiting from the tax gains available through an IRA. The limit applies to all individuals, however, regardless of compensation. There is a cap on how much you can deposit during a given year and how much your IRA can grow over time.
Yearly Excess Contribution
In 2009, the IRS capped annual IRA contributions at $5,000 or $6,000 for individuals over 50-years-old. This is independent …