Posted by Solmon on September 21, 2007 at 02:21:14:
Federal Reserve is as Federal as Federal Express and There are no reserve or value behind that paper money.
This site might give you a bit more info: http://www.taxauditsattorney.com/
tax implications - Posted by gabrielle
Posted by gabrielle on June 22, 2007 at 11:14:23:
“newbie” question- for someone age 65 or older- what are the tax implications (advantages vs disadantages) in selling their home outright for cash, as opposed to holding a partial second mortgage for the buyer? Is there any difference? Thanks.
Re: tax implications - Posted by JOHN HASLACH, CPA, MST
Posted by JOHN HASLACH, CPA, MST on June 22, 2007 at 11:30:09:
The gain is calculated the same. Holding the note will generate interet income in most instances.