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Think You're A Trader? IRS May Disagree

Even if you make hundreds of stock-market trades a year, that doesn't automatically make you a trader -- at least in the eyes of tax collectors. And that means you wouldn't be eligible for certain breaks that traders can take.

The Ranks of the Ultrawealthy Grow

About 47,000 people had a net worth of $20 million or more in 2004, the latest available year, according to new IRS estimates. That's up 62% from 29,000 in 1998. Plus, more findings from IRS data on the nation's upper crust.

A Tax Revolt Is Quietly Brewing

While Americans are focusing on the presidential race, voters in Massachusetts and other states will decide the fate of dozens of state and local tax and spending issues. Here are a few of the most high-profile tax battles.

How AMT Confuses Taxpayers

If you're confused by the alternative minimum tax, you have lots of company according to a new report. Congress is expected to approve a measure this year designed to prevent the number of AMT victims from soaring.

New Tax Rules May Hurt House-Hoppers

Part of the housing-stimulus package recently signed into law could reduce the appeal of a tax-saving strategy used by wealthy home-hoppers. Many owners might not be eligible to claim the full exclusion on a vacation or rental home they convert to a primary residence.
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Senator Obama proposes eliminating the capital gains tax on Small Business

From the Democratic National Convention...Part I

Note: RocketLawyer.com's Legally Easy blog is covering both political parties and their proposals for small business and consumer legal policy.

One of the interesting lines in Senator Obama's acceptance speech was his reference to eliminating the capital gains tax on Small Business....

Incorporating Yourself Can be Easy and Inexpensive

Do you run a small business, partnership or non-profit activity? If you are operating as a sole proprietorship, without the protection of a legal entity, you should consider limiting your liability and risk by incorporating. Incorporation is now easy and inexpensive and you can do it yourself!

Operating a home based business or non-profit activity has many virtues. You can set your o...

New Law Alert: HOPE for Homeowners - Housing and Foreclosure Relief Bill Becomes Law

If you are one of the many homeowners looking for help, the new housing relief bill may provide mortgage relief that can help you avoid foreclosure. So, how do you apply for help under the new HOPE for Homeowners housing and foreclosure assistance law?

The housing relief bill almost certainly is the most robust housing legislation in decades, enabling homeowners who need help with thei...

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