Author Archives: Joe Beige
Good News For First Time Homeowners
If you have been in the market to purchase a new home the last few years good news may have been few and far between. Prospective home buyers who had been faced with rapidly rising prices and heavy competition for available homes then got hit with equally rising mortgage interest rates. For many there was […]
Tax Implications of a Real Estate Transaction
IRS Will Begin Direct Deposit For Amended Returns
The IRS has recently announced that taxpayers filing amended returns (Form 1040-X) will now be able to choose to have any refund directly deposited into their bank account. Prior to this change taxpayers filing amended returns had to wait for a physical, paper check to be issued. This added time to the process and delayed […]
IRS Announces Start of 2023 Tax Season
The Internal Revenue Service has announced that it will begin accepting tax returns for tax year 2022 beginning January 23, 2023 thus commencing the 2023 tax season. It was also announced that the filing deadline for 2022 returns will be April 18, 2023 due to holidays and weekends. Taxpayers who have suffered the past three […]
2022 Tax Filing News From The IRS
The Internal Revenue Service recently made several announcements intended to give taxpayers some advance notice of changes that may affect their 2022 filings. Some of the highlights that taxpayers should be aware of include:
Good News For Home Buyers? Really?
Between low inventory of homes for sale, record high prices, bidding wars for homes and then mortgage interest rates that increased about twice what they had been in a year…there hasn’t been much good news for people looking to purchase a home on Long Island. But…as incredible as it may seem there is some good […]
Professional Real Estate Education
Have you ever thought about becoming a professional real estate salesperson? Maybe you’ve recently bought or sold a home and have seen firsthand what the real estate salesperson does have wondered about it as full or part time occupation?
401(k) and IRA Limits Raised by the IRS
The Internal Revenue Service recently announced increases to the amount that individuals can contribute to their 401(K) and IRAs. For individuals who participate in 401(k), 403(b), most 457 plan or the federal government’s Thrift Savings Plan the contribution limit has increased to $22,500 (up from $20,500). For individuals with IRAs the limit on annual contributions […]
Discussing the Lender Attorneys’ Role with Chris Delisle, Esq.
IRS Warns of Increase in Text Scams
The Internal Revenue Service announced today that the agency is seeing a tremendous increase in text message-based scams aimed at taxpayers. IRS Commissioner Chuck Rettig referred to this increase as “phishing on an industrial scale” and warned that thousands of taxpayers may be at risk of receiving these scam messages.