In This Issue April 2012
~Real Estate Sales Tax
Did you know that if you sell your house after 2012 you will pay a 3.8% sales tax on it? That's $3,800 on a $100,000 home, etc. When did this happen? It's in the HEALTHCARE BILL and goes into effect in 2013.
Under the new health care bill all real estate transactions will be subject to a 3.8% Sales Tax. If you sell a $400,000 home, there will be a $15,200 tax.
This bill could have a major impact on the retiring generation who often downsize their homes. Additionally, this could have an impact on the information reporting community. How this is to be reported has not be finalized, but could be in the form of a new Information Reporting Form, to be developed, or it could be part of the Form 1099-S.
April is FINANCIAL LITERACY for the YOUTH month.
We have some fabulous resources on our website to enhance the financial education for children of ALL ages. Please feel free to visit our website http://www.jfsmoney.com/valuable_info.htm.
We also have plenty of books in our office library about personal finances, please feel free to stop by and check one out.
Also….JFS will donate all proceeds from any sales to our partner vendors to Jump$tart Coalition, a non-profit organization that promotes financial literacy. So please check out these great deals at http://www.jfsmoney.com/money_matters.htm, and support financial literacy.
NEWSWORTHY NOTES: Our business is expanding! In response to client feedback and our tremendous growth, we have added a financial planning expert to our staff to better serve your needs. Please call to set up an appointment to review your Life insurance, Long Term Care insurance, Disability Income Insurance and Retirement Planning needs today!
Consulting / Speeches: Be sure to take advantage of our other services – fiscal coaching for individuals, families and small businesses. Or, if your group would like to schedule Lesley for a speaking engagement, please feel free to contact her. Johnson Financial Services phone: 913-788-7852 mobile phone: 816.289.0476 Office: 8160 Parallel Parkway, Suite 104, Kansas City, KS 66112 email: email@example.com Twitter: http://twitter.com/LesleyJohnson LinkedIn: http://www.linkedin.com/in/lesleyjohnsonea FACEBOOK – www.facebook.com/JohnsonFinancialServices
Don’t forget to check out the various resources and helpful items on our website