Jan 19
Economic damages should return a plaintiff to the position they would have been in “but for” the underlying improper act[s] by the defendant. They should not provide a windfall to plaintiff. In a similar vein, whether such damages are taxable is generally related to how the proceeds would have been treated if obtained in the …
Permanent link to this article: https://betweenthenumbers.net/2019/01/when-litigation-proceeds-are-taxable/
Sep 02
A recent article available at www.digitaltrends.com describes how virtual reality may soon allow jurors to explore crime scenes as they actually appeared. In the article, Dr. Mehzeb Chowdhury, a researcher in forensic science and criminal investigations at Durham University in the U.K.m describes his MABMAT robotic imaging system as capable of capturing every detail of an …
Permanent link to this article: https://betweenthenumbers.net/2016/09/virtual-reality-will-change-the-way-juries-view-evidence/
Aug 12
A federal appeals court has agreed with an unmarried California couple that they should not be treated as married with regard to mortgage interest deductions limits. Bruce Voss and Charles Sophy are co-owners of real property. Each claimed a home mortgage interest deduction in reliance on Section 163(h)(3) of the Tax Code, which allows for …
Permanent link to this article: https://betweenthenumbers.net/2015/08/appeals-court-provides-tax-benefit-to-unmarried-couples-with-high-mortgage-debt/
Apr 01
Historically, loans insured by the Federal Housing Administration (“FHA”) that were paid before maturity were subject to interest charges for the full final month in which they were repaid. Not surprisingly, home sellers with closing dates early in the month have long complained about this practice, which increases their transaction costs. In arguing against the …
Permanent link to this article: https://betweenthenumbers.net/2014/04/fha-to-eliminate-phantom-interest-charges-for-future-borrowers/
Dec 05
The California Franchise Tax Board (“FTB”) issued a letter summarizing their position regarding the tax impact of short sales. The FTB followed suit with the IRS’ position, meaning there will not be any California state tax impact for a majority of taxpayers in this position (See my previous blog post regarding the IRS’s position). The FTB …
Permanent link to this article: https://betweenthenumbers.net/2013/12/california-franchise-tax-board-provides-tax-relief-for-short-sales/
Nov 16
When you own your home, most people have a never ending to-do list of home renovations they would like to accomplish. Home improvements can be expensive. For most upgrades, you do not get a dollar-for-dollar increase in the value of your home. However, most people still choose to carry out the renovation for personal enjoyment. …
Permanent link to this article: https://betweenthenumbers.net/2013/11/what-buyers-dont-want/
Aug 14
The California Association of Realtors (C.A.R.) released the results of their 2013 Home Buyer Survey, which highlights why Californian’s purchased homes this year. The following are the reasons and related percentages reported: 38% – Price reductions 12% – Favorable prices and/or financing 10% – Desired a new or better location 9% – Investment or tax …
Permanent link to this article: https://betweenthenumbers.net/2013/08/5-reasons-californians-purchased-homes-in-2013/
Aug 02
Even with the recent beating homeowners took during the last real estate downturn, Americans still have confidence in the real estate market. It appears that homeownership is still a goal for many Americans. DSNews.com reported the results of the 2013 National Pulse Survey from the National Association of Realtors (NAR). Eight out of ten people …
Permanent link to this article: https://betweenthenumbers.net/2013/08/consumer-confidence-fueling-real-estate-market/
