Tax Tip Tuesday! Cancelled Debt Can Result In Taxable Income
Are you talking to your lender about restructuring or forgiving all or part of your business debt? You may be surprised to learn the outcome of your negotiations could lead to taxable income. Why? When...
View ArticleTax Tip Tuesday: Foreclosure May Require More Tax Forms
If you went through a foreclosure or had home mortgage debt forgiven last year, you might have income to report on your federal tax return — and you might see forms that are new to you. Forms from the...
View ArticleForgiveness Of Debt Relief Still Available For 2012 Returns
If your home lender forgave all or part of your mortgage balance during 2012, tax relief is available. While cancellation of debt is generally taxable income, a special provision still in effect for...
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