DVD of Tax Planning For Short Sales and Foreclosures live seminar
We are offering a DVD of the live seminar described below, together with the bonuses and handouts distributed at the seminar. The DVD is “guerilla style,” like a home movie. The package is $97 plus $5 shipping and handling and $8.42 sales tax for California residents. Orders must be received by January 31, 2012. Use the action form below or call toll free 888-950-2727.
Throughout the U.S., homeowners and real estate investors have found they are “underwater” – they owe more on their home or investment real estate than the property is worth. California is one of the hardest hit states.
Before 2008, nobody knew what a “short sale” was. (Selling real estate for less than the mortgage balances.) Now it seems the short sale is the most common residential real estate transaction.
With the high rate of unemployment, homeowners haven’t been able to make their mortgage payments, resulting in record numbers of foreclosures.
The tax laws for debt cancellation from short sales and foreclosures is a complex minefield. You can’t simply “plug in” figures from an information return in computerized tax return software to get a correct result. You may owe a tax without having the cash to pay it. You might also qualify for an exclusion or have offsetting tax deductions, resulting in having no tax liability.
Michael Gray, CPA has provided online guidance that has been enormously popular with homeowners, real estate investors, real estate professionals and tax advisors in his article, “Tax Consequences of Short Sales vs. Foreclosures”.
Now you have an opportunity to get this vital information in a DVD of our live seminar featuring Michael Gray “Tax Planning For Short Sales And Foreclosures”.
What will be covered?
Here is a list of items that will be covered in the seminar:
- What is the general rule for taxability of cancellation of debt income?
- What are recourse loans and non-recourse loans? How is the cancellation taxed differently for each?
- How do you compute debt cancellation in a short sale and a foreclosure?
- What are the federal and California exclusions from taxable income that apply for cancellation of debt for a principal residence?
- What other exclusions are available for insolvency, qualified real property business indebtedness and bankruptcy?
- What tax deferral election was available for business debt cancellation for 2009 and 2010? What was the advantage of this election?
- How is the tax situation for rental or business-use real estate different from a principal residence?
There should be enough time for questions and answers as part of the seminar.
Who is Michael Gray, CPA?
Michael Gray, CPA has worked principally in the area of taxation since 1974. He is the author of the Real Estate Tax Handbook, 2008 Edition and Michael Gray, CPA’s Real Estate Tax Letter. His web site, www.realestateinvestingtax.com, includes the article “Tax Consequences of Short Sales vs. Foreclosures”, other real estate articles and questions and answers for subscribers to the Real Estate Tax Letter. Michael Gray is also the host of a public access television show, Financial Insider Weekly. You can find past episodes of that show at the web site, www.financialinsiderweekly.com.
As free gifts for buying our DVD, you will receive two complimentary DVDs of interviews with attorney William D. Mahan: “Short Sales and Foreclosures – Mechanics” and “Short Sales and Foreclosures – Tax Considerations,” plus all the seminar handouts.
Our live seminar was held on Friday, December 9, 2011.
Michael C. Gray
P.S.-1 If you weren't able to attend our live seminar, Tax Planning for Short Sales and Foreclosures, you have the opportunity to have a DVD of the seminar, together with the seminar handouts. The investment is only $97 plus $5 shipping and handling and $8.42 sales tax for California residents. This offer expires January 31, 2012. Fax or mail the enclosed Action Form or call 888-950-2727 to order today.
P.S.-2 Remember you will receive two complimentary DVDs of interviews with attorney William D. Mahan: “Short Sales and Foreclosures – Mechanics” and “Short Sales and Foreclosures – Tax Considerations” when you buy the DVD.
© 2011 Michael C. Gray
Yes! Please send a DVD of your “Tax Planning For Short Sales and Foreclosures” seminar. I want to learn the tax consequences of short sales and foreclosures of real estate in different situations and how I could owe income taxes without having the cash to pay them.
The DVD is about one hour long. Hand outs from the seminar are included.
Investment: $97 plus $5 shipping and handling and $8.42 sales tax for California residents. (Totals $102 for nonresidents of California and $110.42 for California residents. Visa, Mastercard, American Express or Discover cards accepted. Make any payments to “Michael Gray, CPA.”)
Free gifts! I will receive two complimentary DVDs of interviews with attorney William D. Mahan: “Short Sales and Foreclosures – Mechanics” and “Short Sales and Foreclosures – Tax Considerations.”
Guarantee: I must agree this is a valuable seminar experience or you will immediately issue a check for a 100% refund.
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FAX to 408-998-2766
Call Michael Gray at 888-950-2727
or mail to Michael Gray, CPA
2190 Stokes St., Ste. 102
San Jose, CA 95128-4512
© 2011 Michael C. Gray