Details Of 2010 Federal Income Taxes: Difference between revisions

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Revision as of 20:24, 21 August 2026

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Defenders of the IRS position would say it comes home to Section 61. The waitress provided a service for me, and I paid for. Compensation for services is taxable. End of record.

You can do even much better than the capital gains rate if, rather than selling, merely do a cash-out re-finance. The proceeds are tax-free! By the time you figure in taxes and selling costs, you could come out better by re-financing with more cash in your pocket than if you sold it outright, plus you still own the house and in order to benefit throughout the income on it!

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