Word: taxed
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...parties more time to reach agreement. Going It Alone poland Prime Minister Leszek Miller defied calls by the opposition Civic Forum to hold early elections following the collapse of the coalition led by his Democratic Left Alliance. The split with the Peasant Party (which refused to back a road-tax bill) leaves Miller 19 seats short of a majority in the 460-member lower house of parliament. Death's Big Comeback MIDDLE EAST Renewed suicide bombing and the installation of a new Israeli hard-line coalition set back hopes for peace in the region. A member of the Palestinian group...
...gains tax if I sold without meeting the two-year requirement? Yes--but you can take a partial exclusion based on how long you owned and used the home, if you sold it for certain reasons. These include a shift in place of employment of more than 50 miles; a health problem for which a doctor advised moving; and "unforeseen circumstances," ranging from divorce, job loss, multiple births from a pregnancy to a natural or terrorist disaster. "If you fall under one of these safe harbors," says Lewis Fernandez, deputy associate chief counsel of the irs division overseeing the regulations...
...What about my home office? Good news: assuming you meet the other requirements, the new guidelines make clear that your whole gain is tax free, says Doug Stives, a CPA with the Curchin Group in Red Bank, N.J. (The exclusion used to be reserved for just the living space.) But there is a small catch--you will have to pay income tax on any home-office depreciation you have deducted since...
...difference if they're audited, says Brent Neiser, director of collaborative programs at the National Endowment for Financial Education. And if they fail to charge any interest at all and don't set repayment terms, the loan can be considered a gift that is subject to IRS gift-tax rules. Depending on the sum, the tax can run as high...
...some things that you just can't get around; there's no way to get access to those things without getting married. Social Security is a really big one, and survivor's benefits, which became a big issue after Sept. 11. Unmarried partners can't get a marital tax deduction, so they need to do careful estate planning...