IRS Tax Debt

Filing of income taxes start as soon as individual start receiving their W2s ... . But unfortunately to some, they have irs tax debt still to pay to the government. I remember ... , he was devastated when he received a letter from IRS saying that he had IRS Debt because of misfiling [more...]

Date: 2009-01-01 12:43:57

Blog posts (23) | Videos (19)
 

Real Estate Analysis Measures & Formulas

Successful real estate investing requires a savvy understanding of several key financial measures and formulas ... calculator or investment real estate software to compute. 1. Gross Scheduled Income (GSI ... not include debt service, income taxes, or depreciation. Example: $18,525 5. Net Operating Income [more...]

Date: 2008-12-16 20:38:43

Taxes on Short Sale, Loan Modification & Mortgage Foreclosure 7 Nov08 Bankruptcy & Insolvency

Tax on 1099C, Cancellation of Debt Income; Short Sale, Loan Modification & Foreclosure. Exception; Mortgage Forgiveness Debt Relief Act, Bankruptcy & Insolvency. Go To RealEstateMarketingThisWeek.com Part 7 (Excerpt) Beware of grandiose claims when dealing with a loan modification firm. You know I am glad that were back, when we went to the break we were talking amongst ourselves about some of these concepts, I really want to bring this back down to the listeners. [more...]

Date: 2009-09-29 17:30:06

Income Taxes? "No Constitutional Basis or Law"

“In 1913 America was a free country. Then a band of powerful bankers achieved their fathers' and great grandfathers' goal ... , that is direct apportioned tax or indirect uniform tax. The IRS claims that the 16th Amendment allowed ... solely by interest on the federal debt. All individual income tax revenues are gone before one nickel [more...]

Date: 2009-01-14 15:26:00

Obama Considering $310 Billion Tax Cut

The Wall Street Journal has sent a news alert that says that Obama is mulling a stimulus plan that will rely more heavily on tax cuts than initially ... of the overall tax relief would involve cuts for people who pay income taxes or who claim the earned-income ... at all income levels are carrying a lot of debt, and given how any kind of missed payment [more...]

Date: 2009-01-05 02:51:52

IRS Tax levy, Tax Collection, Tax Lien, Foreclosure Debt Foregiveness Rules May Be Amended.

Los Angeles, California - IRS will be improving IRS tax procedures to protect victims of tax-related identity theft and expanding outreach and ... to assist identity theft victims. 3. Cancellation of Debt Income. When an individual or business ... to foreclosure or who default on car loans or credit card debts. Taxpayers may exclude the amount [more...]

Date: 2008-07-22 19:43:56

Sovereign Debts: Let the Downgrades Begin!

Making good its warning, the US credit rating agency Standard & Poor's downgraded the credit rating of Greece amidst a deteriorating economic ... the government's ability to improve its budget position through better tax collection and higher property or income taxes is offset by the rising cost of debt servicing and public pressure for additional [more...]

Date: 2009-01-15 11:27:00

When It Is Time to Buy Instead of Lease

I spoke with Karen Klein, writing for BusinessWeek, last month about owning property versus leasing ... commercial property builds equity in an appreciable asset that offers both tax advantages and income ... on substantial debt, subleasing, and supervising property maintenance is not for every entrepreneur [more...]

Date: 2009-01-10 21:25:41

Forgiven Debt Really is Income

There was a pretty good post over at WiseBread yesterday on how if a credit card company forgives some of what you owe, what was forgiven is income you have to pay taxes on. On the one hand, this is a point worth repeating because it seems to surprise most people. On the other hand, the post neglects to mention an important exception, and, moreover, feeds into the belief that this is an irrational fluke of the tax code. It isn’t. It makes sense. You owe Credit Card Corporation (CCC) $5000. [more...]

Date: 2009-09-23 15:59:00

21 Key Real Estate Analysis Measures & Formulas

By James Kobzeff A must-have article for anyone involved with real estate investing; ... ) - Cash flow before taxes is net operating income, less debt service and capital expenditures, plus ... because they require a financial calculator or investment real estate software to compute [more...]

Date: 2008-12-18 10:03:26

Old Debt Settlements Can Come Back to Haunt with Large Tax Bite

Q. I settled a debt in 2007 for less than owed, paying $15,000 on a $22,000 debt ... you for being so singled out)! Most of the time if you settle your debt with credit card companies ... as a result of cancellation of debt. The amount of forgiven debt will count as income. According to the IRS [more...]

Date: 2008-12-01 14:54:03

Have You Considered Debt Consolidation?

One of the solutions suggested by debt specialists is debt consolidation, wherein accumulated unpaid debt can be paid through it ... , water, cable, internet connection, income and property taxes, credit card and transportation ... who do not include credit counseling first before offering options like debt consolidation service [more...]

Date: 2008-11-19 15:33:05

Borrowers Beware: Stricter Loan Requirements in 2009

Ah, credit. The nation’s widespread adoption of it has allowed several generations of Americans to spend beyond their means, ... pay more for it. You’ll also need to keep an eye on your overall debt ratio if you’re in the market ... debt ratio at or below 45 percent of their pre-tax income. If you plan to apply for an FHA loan [more...]

Date: 2009-01-13 13:27:55

Alt-A and ARM resets could trigger another crisis!!!

We are winding down out of subprime and going into Alt-A and ARM resets. We have government funding for homes in two ways. One, incentives with lower rates and tax credits, but, there is more. The GSE’s are allowing loans that are 105% and where the monthly debt to income is over 60%. These loans have high default rates and we will pay the price as unemployment stays high. quote Let’s look at a few facts: The Fed is literally the entire mortgage market. Yes, really. [more...]

Date: 2009-09-29 18:15:58

Agriculture incomes are rising and investors are bullish as AgChoices conference nears

Alberta farmers and ranchers will gather in Red Deer on February 11th to discuss new opportunities and ideas in agribusiness ... instruments, like asset-backed debt, become increasingly complex and, as it turns out, worthless, a certain ... , understand that inflation is an irresistible tool of government even when compared against taxes and debt [more...]

Date: 2009-01-12 05:54:40

Personal Finance Hard Truth Week in Review – It’s Almost Over Edition

The campaign is in its final days.  I expect we will have six months or so before the next group of presidential wannabes begins making noises about ... of Debt Reduction and my post on Shouldn’t We Burn Credit Cards in Protest?  Oh - that candy your kids ... a website that includes their amazing tax saving calculator.  Apparently, you input your income [more...]

Date: 2008-11-01 13:34:12

The Debt-to-Income Ratio: How Much House Can You Afford?

Housing is the largest expense in the budget of most families. But how much is too much to spend on shelter? ... of her grandfather’s home. The loan that made up the difference, with closing costs, broker’s fee, taxes ... my compassion. Ms. Natale (who has three children) took out a housing loan that left her just $100 [more...]

Date: 2008-11-11 13:00:08

Radical Reform for What Ails’ya

Incoming Speaker of the State House of Representatives Chris Donovan, “resisting a radical tag,” says about himself, “I’m a mainstream politician now ... of Sophie’s Choice: They can either raise taxes to liquidate the debt, or radically cut costs [more...]

Date: 2009-01-08 23:48:00

Cameron offers savings tax cut plus clamp on public spending

David Cameron took the side of savers hit by tumbling interest rates yesterday and promised to abolish tax on the savings income of all basic-rate ... , he said, was facing a "catastrophic legacy of debt and disrepair"; he sometimes wanted to shake [more...]

Date: 2009-01-06 00:06:23

Do You Have To Pay Taxes Selling On eBay?

Last week the M-Network launched a new feature called Ask the M-Network where readers can ask any financial questions ... debt. Is there a minimum amount that I can make before I have to pay taxes on my eBay income [more...]

Date: 2009-01-12 13:16:09

Government debt — who will pay?

“The ‘incidence’ of taxation refers to who pays the ultimate burden of a tax. The optimal theoretical resolution is government budget surpluses that reduce the debt. But that is the least probable scenario. Total government spending in the USA has reached an astonishing sixty percent of national income. Most of the American economy’s output is now allocated by government rather than the desires of individuals. [more...]

Date: 2009-09-24 04:57:10

IRS Unveils Initiatives to Help Taxpayers in Financial Trouble

IRS changes offer relief to delinquent taxpayers. The IRS unveiled a series of initiatives Tuesday aimed at helping people who can’t pay their taxes ... and collection letters to taxpayers who recently lost their jobs, rely on income from Social Security ... the IRS to set up an installment plan. These plans allow taxpayers to pay their debt in monthly [more...]

Date: 2009-01-07 06:45:10

Basics About The Finance Information - Part 1

Savings. Pay yourself unrivaled. Start now stashing 10% of your income in an “Emergency” savings. Don’t aid it for anything but real emergencies. Keep a “For Sure” savings account for yearly expenses you know are coming and you can essence (e.g. Christmas, insurance, taxes, etc.). Also have a Buy Stuff account. If you do, you’ll symbolize producing to flee many financial disasters which bequeath face you, and you can escape borrowing iva or debt management from high-rate lenders. Borrowing. [more...]

Date: 2009-04-30 10:46:55

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