By: Mary Ellen Wilson Real Estate Views: 4365 | Comments: 0 | Votes: 2
San Diego, CA – EHS says “Be Concerned.” Here’s how the 2007 Act works. If your lender forgives any of your loans, it is reported to the IRS as ordinary income. That income could add over $100,000 to your taxable income. The 2007 bill forgives that tax. Congress created a bi-partisan 12-member committee to reduce the $1.5 trillion dollar tax deficit. More
By: Kenneth R. Harney Real Estate Views: 9229 | Comments: 0 | Votes: 1
If you've been holding back on getting involved with the new $6,500 federal tax credit for repeat home purchases, there's no more excuse for inaction. You now have all the official IRS guidance you'll need to buy a house, qualify for the credit and pocket the $6,500. 6. On Jan. The credit is for up to 10 percent of the price of the replacement home, capped at $6,500. Get moving. More
By: Mark Goldman Real Estate Views: 4945 | Comments: 0 | Votes: 0
One concern that I had from the inception was that the tax credit could not be used at the time of sale. This limited the "stimulus" effect. FHA did allow some kind of loan so that the credit could be borrowed (we need to start to shudder when the word “borrow” comes into the conversation.) in advance and used for closing costs. And so on. www.markgoldman.com More
By: Richard Sorrentino Real Estate Views: 903 | Comments: 0 | Votes: 0
A commercial property investment is a business investment. Determine the investment numbers and you will determine your success ratio performance of your investment. The following three formulas will help you to choose your level of risk, before you submit a letter of intent. Remember a commercial property is a business that is an illiquid investment. So can you." More
By: Richard Sorrentino Real Estate Views: 4330 | Comments: 0 | Votes: 0
A commercial property investment is a business investment. Determine the investment numbers and you will determine your success ratio performance of your investment. The following three formulas will help you to choose your level of risk, before you submit a letter of intent. Remember a commercial property is a business that is an illiquid investment. So can you." More
By: Richard Sorrentino Real Estate Views: 3542 | Comments: 0 | Votes: 0
How to use seven steps to make sure your Letter of Intent process is complete. What if you discovered a simple list that you can use to follow the progress of a completed Letter of Intent? Just sign or check this step and make note of the date. Here is legal reminder to follow. Step 2. Just sign or check this step and make note of the date. Step 3. Step 4. Step 6. Step 7. More
By: Richard Sorrentino Real Estate Views: 3983 | Comments: 0 | Votes: 0
You can your formally state your intention to purchase a commercial property prior to writing a legal binding contract using a letter of intent (LOI) or memorandum of understanding. The letter of intent is presented to a seller in the preliminary stages of a commercial investment project. Do you want to learn more about how to close deals? So can you." More
By: Richard Sorrentino Real Estate Views: 3306 | Comments: 0 | Votes: 0
What if you discovered a simple list that you can use to begin preliminary due diligence? Here is our two step check list to use for a commercial property acquisition Escrow and the Equity Source. It is part of a series of articles provided to track your progress from Market Analysis to close of transaction. Purchase and sale agreement received by escrow. yes or no 2. 2. . . More
By: Sanda Hnatjuk-Bahic Real Estate Views: 3395 | Comments: 1 | Votes: 1
How much Tax Credit can I receive? · A State of California tax credit of 5% of the sale price, up to $10,000, is now being offered to qualifying people purchasing newly constructed, previously unoccupied homes. · A Federal tax credit of 10% of the sale price, up to $8,000, is now being offered to qualifying first-time homebuyers. Does how much I earn affect my qualifications? More
By: Sanda Hnatjuk-Bahic Real Estate Views: 2991 | Comments: 0 | Votes: 0
The tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000. Buyers will have to repay the credit if they sell their homes within three years. Tax Credit Versus Tax Deduction It’s important to remember that the $8,000 tax credit is just that… a tax credit. Dividing $10,000 by $20,000 yields 0.5. More
