It is expected that President Obama will sign today The American Taxpayer Relief Act passed by Congress last night. What will this mean for you? 1. The 2% reduction in payroll taxes for FICA expired on December 31, 2012. Accordingly,…
Like-Kind Exchanges (Reprint)
Normally, capital gains are recognized and taxable upon the sale of property. The Tax Code provides an exception to this rule for certain exchanges of property. If all requirements are met, any gain from the exchange is not taxed, and…