Instead of posting different blog entries, I bring you everything empassing financing in one complete guide. I hope you enjoy. Please don’t hesistate to contact me if you have any questions. – Toni 5 Tips for Deciphering Your Home Loan’s Good-faith Estimate Knowing how to read your good-faith estimate can help you save money on [...]
Posts under ‘tax’
Trader nailed with $172 million bill in back taxes, asks ‘What’s the IRS?’
He failed as a day-trader and barely survived in New York on a beer budget, but Marcos Esparza Bofill has been hit with a $172 million tax bill by the IRS. “Who’s the IRS?” Esparza Bofill, a twentysomething Spanish émigré, asked a friend who alerted him to his astronomical back taxes. Esparza Bofill moved to [...]
California’s Tax Credit nearing a close
Summer is coming to a close and with it brings the expiration of one of California’s tax credits. As of this writing, California’s first-time home buyer tax credit expired effective midnight, August 15. That announcement came after the Franchise Tax Board (FTB) realized it had received more than enough applications to cover the $100 million [...]
Home prices increase 1.3 pct. in May from April
Yahoo Finance: Home prices rose in May for the second straight month as federal tax incentives pulled more buyers into the market. The Standard & Poor’s/Case-Shiller 20-city home price index released Tuesday posted a 1.3 percent increase in May from April. Nineteen of 20 cities showed price gains month over month. Minneapolis and Atlanta [...]
Are You Planning a Summer Vacation?
While economic news may still not be great, the hallmark of the season – the summer vacation, may not be completely in jeopardy. Two-thirds (66%) of Americans are planning to take a summer vacation this year. This closely mirrors data from 2009, when 65% were planning a summer vacation. These are some of the results [...]
Military veterans earn one-year federal tax credit extension
Military personnel, members of the Foreign Service, and employees of the intelligence community have an extra year, through June 2011, to buy a principal residence in the U.S. and claim the federal tax credit. The deadline for entering a binding contract is April 30, 2011; the deadline to close a purchase is June 30, 2011. [...]
NO CA MORE STATE TAX ON FORGIVEN DEBT
Distressed homeowners no longer have to pay California state income tax on debt forgiven in a short sale, foreclosure, or loan modification. Enacted into law yesterday, Senate Bill 401 generally aligns California’s tax treatment of mortgage debt relief income with federal law. For debt forgiven on a loan secured by a “qualified principal residence,” borrowers [...]
Kiplinger’s: Extraordinary Tax Deductions
Sometimes, despite objections from the IRS, taxpayers get to write off the darndest things. Here are our favorites. Okay, admit it: As you’ve struggled with your tax return, trying to come up with some extra deductions to pump up your refund or reduce what you owe Uncle Sam, you’ve taken a few flights of fancy. [...]
