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Consumer Law

: Caveat Emptor

The bright side of the bailout: tax benefits galore!

By Sam Glover

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My financial advisor, David Benning, forwarded a summary of the tax benefits that were hiding in the fed’s bailout bill. Here is a summary of his summary: Mortgage debt forgiveness excluded Ordinarily, debt forgiveness may be taxable, including foreclosure residuals. That is, the difference between what you owe the bank and what the bank gets for your [...]

Full post as published by Caveat Emptor on November 05, 2008 (boomark / email).

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