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Recent content by ChiTownGirl

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

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    Homeowner's Exemption

    Chicago, IL (Cook County) I am about to close on a condo and have found out that the seller never applied for the Homeowner's Exemption. On the Cook County Assessor & Treasurer's web-sites, there is contradictory information regarding who can apply & receive this benefit. On one area of the...
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    Avoid tax penalties from gift of down payment for home

    Chicago, IL My father is paying the down payment on my condo (about $85,000). To avoid the gift tax penalty, he is going on the loan as a non-occupying buyer and will sign a gift letter. Will I be taxed in any way for this? Is there a way to avoid all tax penalties? Thanks!
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