People are starting to be affected by the changes so I thought a review might be helpful.
The Housing Assistance Tax Act of 2008 changed the rules around capital gain exclusions for homeowners.
The qualification for the exclusion remains untouched.
You must meet the ownership test (2 of last 5 [...]
With our burgeoning deficit, we will certainly see a number of tax changes over the next decade. I offer the following graphs and articles to provide some perspective on the matter.
I found this fascinating. While the percentage of tax revenue from income taxes has stayed relatively constant [...]