10 Tax Tips From IRS When Selling Your Home

Tuesday, October 23, 2012, AM | 2 Comments

Everyday we are bombarded with information of all kinds, some good and some may not be so good. That’s why we read newspapers, watch TV news and try to get informed as much as we can digest. We look for, let’s face it, gossip – can’t live without it – but some hardcore news as well whatever time we still have on our hand.

These days most of the news quite frequently is not news but it’s the opinion of the newscaster, basically in the form of seemingly gossip. It can be one of the reasons why there is a difference between the news on CNN and that on Fox News and other TV channels.

The used-to-be hardcore news…

Gone are the days when the likes of Walter Cronkite, Harry Reasoner, Howard K. Smith had half-hour news where you would know it was news – hardcore news of the day.

At the end of the news, the newscaster would give opinions of what they thought went on that day. So you could tell the news of the day from their opinion.

It has been argued many times whether it’s true President Johnson didn’t run for second term when he supposedly said: “If I’ve lost Cronkite, I’ve lost Middle America.” How can anyone beat that as a journalist, not these days anyway.

Spreading rumors…

Even in the presidential debates, the candidates spread rumors. If the moderator is not 100% alert like Candy Crawler, a wrong assertion by the candidate would turn into news, knowingly or unknowingly.

Rumor…

A piece of unverified information of uncertain origin usually spread by word of mouth.

Unverified information received from another; hearsay.

However, IRS is one entity that may have hardcore news…

There is one entity in the United States which may be considered unbiased in delivering its news to the public. No Democrat, no Republican, no third party has the hold on IRS. Hopefully, everyone regardless of party affiliation is treated equally.

To hear it from the horse’s mouth – so to speak – is the best way to get informed on a daily basis if you wish. Otherwise, once a month or perhaps every quarter we should read articles on the subject of tax that comes to us directly from the horse’s mouth which in this case is IRS.

One of the most important financial information we can get is from Internal Revenue Service. Tax is a very important issue if you want to keep your investment grow.

Keep in mind tax comes into play almost always when you buy and sell – including when you sell your home – and thus adjusting and updating your portfolio which you should examine on a regular basis.

10 Tax Tips From IRS When Selling Your Home

There are still more than two months left this year if you want to sell your home. If you want to get informed by IRS, read Ten Tax Tips for Individuals Selling Their Home.

In a Nutshell
So when IRS gives its opinion, consider it hardcore news and believe it as it came from the horse’s mouth, as if it came from Walter Cronkite – considered the most trusted man in America in his time.

“And that’s the way it is. This is ****** ********, *** News, Good Night.”

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  1. 2 Responses to “10 Tax Tips From IRS When Selling Your Home”

  2. By Blue Tax on Oct 31, 2012, 3:22 pm | Reply

    These are great tips for anyone looking to buy or sell a home; this list may influences a person’s decision to buy now or wait until the new tax year. Thanks for sharing.

  3. By BlueTax on Nov 12, 2012, 12:44 pm | Reply

    Thanks for pointing out the tax implications that can come from selling your home. Great post.

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