When you collect money or an income, you are liable for taxes. When you borrow money from someone and that debt is forgiven, you normally also have to pay taxes on that forgiven amount. When you are facing overwhelming debt and considering a short sale, (or deed in lieu of a short sale) remember that there will be tax consequences and those can be complicated.
At the Merideth Nagel Law Firm, in Clermont, Florida, I provide informed, strategic advocacy focused on helping my clients understand and minimize tax liability. Under new laws, if your lender forgives your debt on your home, you may not have to pay taxes on the forgiven amount. These laws may be ending soon, so it is important to take advantage of these huge tax savings now.
While every case is unique, a short sale can be a viable alternative for debtors who qualify for the exclusion from income tax costs associated with debt forgiveness. As your legal representative, I will take the time to understand your unique situation, apply relevant law and aggressively defend your interests at every stage.
As your attorney, I will never stop fighting to protect what is most important to you. To schedule an initial consultation with a Lake County tax debt attorney, call 352-394-7408 or fill out a short contact form today. We want to understand your concerns and provide the help you need immediately.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. Serving Lake, Orange, Marion and Sumter Counties.
Serving West Orange County, Lake County, Sumter County & Marion County
The more I get to know her the more convinced I am that she is the right attorney for me. The compassion and integrity I have seen is quite remarkable and I highly recommend you use her office to service… ~ Kelly,
Ms. Nagel represented my wife and I in a bankruptcy case and also in a recent real estate transaction. I felt compelled to share our experience. Ms Nagel and all of her staff handled everything in a very professional matter… ~ Mike,
Merideth Nagel has been a help to me, over the last 10 years, for multiple legal issues! As her client, and as a realtor who utilizes her real estate and title services, Merideth, along with her phenomenal staff, has afforded… ~ Tiki Jackson,
“If it weren't for Merideth Nagel and her top-notch team of seasoned professionals, I shudder to think where my family would be today. At this firm, you are not a name, a face, a case number, or a quagmire. You… ~ Heather, Clermont
“Merideth and her team have been a real blessing to me over the years! She helped me with real estate several times and estate planning. I can recommend her with full confidence!” ~ Nancy, Orlando
“We utilized Nagel Law to assist us with a real estate transaction a little over a year ago. Merideth and her entire staff treated us with the utmost professionalism as well as eased our minds pertaining to this transaction. We… ~ Lynette, Orlando