DEAR BENNY: My father added my brother and I to the deed of his house he bought back in 1979. Now that he did his living trust, he wants to remove us from title (deed) so we don’t have to pay taxes in case something happens to him. I understand his property taxes will go [...]
Tax reform legislation, including a proposal to enact a statewide business privilege tax, is among the dishes simmering in committee as the North Carolina General Assembly nears its crossover deadline, but political observers say it’s too early to tell what legislators ultimately will bring to the table.
DEAR BENNY: I am 78 years old, own two homes and have been a widow since 2008. At the time of my death I want to give one or both of the homes to my daughter. She will be the sole beneficiary of my estate. She lives in one home and I live in another [...]
I have a question about the tax exclusion for married couples when you sell your house. Is there a time frame from when a spouse dies that you would be able to receive the $500,000 tax exclusion when you sell your house?
CHARLOTTE — The current lame-duck Mecklenburg Board of County Commissioners will meet one last time — at 3 p.m. Tuesday at the Charlotte-Mecklenburg Government Center, 600 E. fourth St. — to try to take action on an outside report that was highly critical of the county’s handling of the contentious 2011 property tax revaluation. The [...]