Author Archive | Duane Gomer

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DFPI: Department of Financial Protection and Innovation – Scam Alerts

To me they will always be the Department of Corporations but their comments are licensed under their regulations. Check out their headline alert: Crypto Scam Tracker. Search the table below by company name, scam type, or keywords to learn about the specific complaints the DFPI has received. Use this information to protect yourself when engaging […]

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IRS AND FORECLOSURES

What happens when there is an IRS lien on a foreclosure sale? Do they have any super extra rights? No, they have 120 days to buy the property from the winning bidder paying the price bid at the sale. https://www.nolo.com/legal-encyclopedia/what-happens-my-home-if-i-dont-pay-income-taxes.html#:~:text=When%20an%20IRS%20lien%20gets,becomes%20the%20home’s%20legal%20owner.

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IRS 1031 TAX FREE EXCHANGES

The typical 1031 Exchange is not Tax Free. It is tax deferred and sometimes there is recognized tax. Is there a simple way to tell whether your gain will be deferred or recognized? Marvin Starr, a legendary Oakland California attorney, designed what he called the napkin test. He always explained that he wrote it out […]

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IRS TAX TIP: ONLINE LEARNING OPPORTUNITY FOR SMALL BUSINESS OWNERS 

The Small Business Virtual Tax Workshop can help business owners learn how to navigate their federal tax responsibilities. This workshop is an easy and convenient way for both new and experienced small business owners to learn or review topics relevant to their business. Available online at IRS.gov; it’s free and available 24/7. People can watch the video […]

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NEW BOOK FROM CAR; WORTH CHECKING OUT

Title: The Little Silver Book: Technology Rules to Live By for Realtors®. It is little. The size of a 4 by 5 card and only 35 pages. What does NAR say about their new product?  “The Little Silver Book: Technology Rules to Live by for Realtors® is a must-have for all REALTORS®. It includes key do’s […]

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