The Capital Gains Blog

Archive for May, 2006

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Question: If a 2nd home in a family trust is sold, do I have to pay tax on the gain from when it was bought, or when?

This is in reference to a second home that is used for a vacation home and the title is in a family trust. If it is sold the Capital Gain Tax would be substantial if the basis is from when the house was originally bought. It was put into the family trust in 2004, and an appraisal was made at that time.

Answer: I would contact a tax professional.

You might have to pay Capital Gains Tax if it is not your primary residence, but I DO NOT KNOW. I would contact a tax professional.

Chris Weigant: Friday Talking Points [108] — Obama’s Pivotal Week

I have to start off today apologizing to my Huffington Post readers for possibly wearing out my welcome there this week, since this will be…

Question: Is this Obama’s answer for everything?

Healthcare: Raise taxes.
Business: Raise taxes.
Lower unemployment: Raise taxes.
Create more jobs: Raise taxes.
Lower fuel prices: Raise taxes.
Develop alternative energy: Raise taxes.
Social Security: Raise taxes.
Inheritance: Raise taxes.
Capital gains: Raise taxes.

Seems to me to be kind of narrow-minded and over-simplified, but is that about it?
Wow! Sorry, but I didn’t really intend to scare all you libs away from answering the question. Facts can be scary, and I apologize for having exposed you to them.

Answer: I’m just getting out my hammer and sickle, and preparing for the socialist nation he will bring about because dumbasses will elect him just because he is against the war. They seem to fail to see any of his dangerous domestic programs.

Current Conditions V2

Are hi-tech devices necessary for school bus safety? GE announced today fourth-quarter 2009 earnings from continuing operations (attributable to GE) of $3.0 billion, or $0.28 per share. Revenues were $41.4 billion for the quarter and $157 billion for the year.

Question: Is there a 1031 Exchange in the Philippines?

Is there a 1031 Exchange in the Philippines?

Answer: why not

QUICK POLL

WOODBRIDGE, NJ-The Kislak Company, Inc. recently completed the sale of four investment properties in Northern and Central New Jersey totaling $5.7 million.

Top 10 technologies for tyranny

In light of Google’s spat with China and the anger it has aroused we wanted to do something about tyranny and technology this week, but I’m afraid to say we fell prey to the Dark Side.

Somalia : Secretary-General’s Special Representative, Briefing Security Council, Calls Somalia ‘Global Crisis’ That …

The crisis in Somalia was no longer local or even regional, but a global one that could no longer be ignored, Ahmedou Ould-Abdallah, the Secretary-General’s top representative in that country, said today in a briefing to the Security Council.