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Kiss your security deposit goodbye

By Robert Griswold, Thursday, March 29, 2007.

Question: I am a homeowner and look for your column regularly. I have a garage in-law (a legally converted garage that is a rental unit) that is very cute and cozy. I have a married couple renting at the time, and they have been here nearly a year. Without going through all the gruesome details, "Dumb" and "Dumber" overstuffed my washer and dryer until they finally wore them out and now are out of order. It is very expensive to get them repaired and very expensive to replace.  more...

The installment-sale advantage

By Robert Bruss, Thursday, March 29, 2007.

DEAR BOB: I own some land purchased in 1943 for $50,000. It is now worth about $600,000. How can I sell it and keep federal and state taxes to a minimum? I have three adult children and two grandchildren. --Sabena M.

DEAR SABENA: There is only one way to fully avoid tax on the sale of property held for investment, such as your land. That method is an Internal Revenue Code 1031 tax-deferred exchange for another investment or business property of equal or greater cost and equity.  more...