Home › Forums › Closed Forums › Buying and Selling RE › Short Sale damages: CPA required
- This topic has 100 replies, 14 voices, and was last updated 15 years, 2 months ago by
johngaltgirl.
-
AuthorPosts
-
December 11, 2009 at 12:40 AM #493790December 11, 2009 at 8:13 AM #492966
Anonymous
GuestI don’t know of a good CPA in your area but you are right to find one -the State of California does not conform to Federal Law in several areas, and mortgage debt relief may very well be taxable income in California. With the highest marginal rate pushing 10%, and the state NEEDING revenue, it is not safe to forget the impact of state taxes when making decisions. Good Luck.
December 11, 2009 at 8:13 AM #493128Anonymous
GuestI don’t know of a good CPA in your area but you are right to find one -the State of California does not conform to Federal Law in several areas, and mortgage debt relief may very well be taxable income in California. With the highest marginal rate pushing 10%, and the state NEEDING revenue, it is not safe to forget the impact of state taxes when making decisions. Good Luck.
December 11, 2009 at 8:13 AM #493513Anonymous
GuestI don’t know of a good CPA in your area but you are right to find one -the State of California does not conform to Federal Law in several areas, and mortgage debt relief may very well be taxable income in California. With the highest marginal rate pushing 10%, and the state NEEDING revenue, it is not safe to forget the impact of state taxes when making decisions. Good Luck.
December 11, 2009 at 8:13 AM #493602Anonymous
GuestI don’t know of a good CPA in your area but you are right to find one -the State of California does not conform to Federal Law in several areas, and mortgage debt relief may very well be taxable income in California. With the highest marginal rate pushing 10%, and the state NEEDING revenue, it is not safe to forget the impact of state taxes when making decisions. Good Luck.
December 11, 2009 at 8:13 AM #493840Anonymous
GuestI don’t know of a good CPA in your area but you are right to find one -the State of California does not conform to Federal Law in several areas, and mortgage debt relief may very well be taxable income in California. With the highest marginal rate pushing 10%, and the state NEEDING revenue, it is not safe to forget the impact of state taxes when making decisions. Good Luck.
December 11, 2009 at 8:23 AM #492971bsrsharma
ParticipantWe do not want to go the bankruptcy route, even if it papers out.
johngaltgirl,
Can you please explain why? It looks like BK process was designed to help exactly people like you. (Unsustainable asset/liability position). What is your rationale? Remember, many millions go through BK every year, it is not like some leprosy.
December 11, 2009 at 8:23 AM #493133bsrsharma
ParticipantWe do not want to go the bankruptcy route, even if it papers out.
johngaltgirl,
Can you please explain why? It looks like BK process was designed to help exactly people like you. (Unsustainable asset/liability position). What is your rationale? Remember, many millions go through BK every year, it is not like some leprosy.
December 11, 2009 at 8:23 AM #493519bsrsharma
ParticipantWe do not want to go the bankruptcy route, even if it papers out.
johngaltgirl,
Can you please explain why? It looks like BK process was designed to help exactly people like you. (Unsustainable asset/liability position). What is your rationale? Remember, many millions go through BK every year, it is not like some leprosy.
December 11, 2009 at 8:23 AM #493607bsrsharma
ParticipantWe do not want to go the bankruptcy route, even if it papers out.
johngaltgirl,
Can you please explain why? It looks like BK process was designed to help exactly people like you. (Unsustainable asset/liability position). What is your rationale? Remember, many millions go through BK every year, it is not like some leprosy.
December 11, 2009 at 8:23 AM #493845bsrsharma
ParticipantWe do not want to go the bankruptcy route, even if it papers out.
johngaltgirl,
Can you please explain why? It looks like BK process was designed to help exactly people like you. (Unsustainable asset/liability position). What is your rationale? Remember, many millions go through BK every year, it is not like some leprosy.
December 11, 2009 at 10:19 AM #493021OwnerOfCalifornia
ParticipantOP I’m having trouble understanding your handle. Who is John Galt?
December 11, 2009 at 10:19 AM #493183OwnerOfCalifornia
ParticipantOP I’m having trouble understanding your handle. Who is John Galt?
December 11, 2009 at 10:19 AM #493569OwnerOfCalifornia
ParticipantOP I’m having trouble understanding your handle. Who is John Galt?
December 11, 2009 at 10:19 AM #493657OwnerOfCalifornia
ParticipantOP I’m having trouble understanding your handle. Who is John Galt?
-
AuthorPosts
- The forum ‘Buying and Selling RE’ is closed to new topics and replies.