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FICO - How your score affects you

By: Academix Credit Repair Views: 1790 | Comments: 0 | Votes: 0


Throughout the years, mortgage rates have varied by loan-to-value and by term only. Items such as mortgages and variation in credit risks were not taken into consideration. A variation in interest rates was typically due to an additional charge for mortgage insurance (PMI) for home loans with loan-to-values greater than 80 percent, or higher rates due to the length of amortization. More

How long to keep financial records

By: Julian Block Tax Planning Views: 712 | Comments: 0 | Votes: 0

Julian Block

You need no reminder to hold on to your tax records in case your returns are questioned by the Internal Revenue Service. But just how long do you need to save those old records that clutter up your closets and desk drawers? Unfortunately, there is no flat cutoff and the time limits go all over the lot.   But wait! The audit, admonishes the IRS, can begin "at any time." More

Selective depreciation can boost bottom line

By: Tom Stevens Real Estate Views: 1050 | Comments: 2 | Votes: 1

Tom Stevens

Not all assets are created equal in the eyes of the Internal Revenue Service. Some assets purchased during construction of a new building (like light fixtures and lab equipment) have a shorter life span than the building itself -- carrying the potential for a greater tax deduction. And a new law passed by Congress allows additional savings until 2006. After Sept. 22, 2004. 1, 2006. More

How Americans view personal wealth vs. how financial planners view this wealth

By: Jack Gillis Financial Planning Views: 811 | Comments: 0 | Votes: 0

Jack Gillis

Americans Think Wealth Is Harder For Them to Accumulate Than Do Planners Two recent surveys, released today by the Consumer Federation of America (CFA) and the Financial Planning Association® (FPA®), reveal that financial planners believe it is easier for Americans to accumulate personal wealth than do Americans themselves. Barnash, CFP®. 8%. More

Phone bill tax refund

By: Lew Sichelman Tax Planning Views: 1851 | Comments: 0 | Votes: 0

Lew Sichelman

Taxpayers are due a onetime federal excise tax refund credit of $30 to $60 – or possibly even more – on their 2006 federal returns, according to the Internal Revenue Service. The refund is intended to compensate people who have been charged an excise tax on their phone bills. But when they went to flat-fee phone services, they continued to levy the tax. More

The Fundamental Law of Economics

By: Dr. Tucker Hart Adams Personal Finance Views: 773 | Comments: 0 | Votes: 0

Dr. Tucker Hart Adams

“Using Law and Economics in the same sentence is an oxymoron,” the hard scientist will snicker. Economics is one of the soft sciences, driven by human behavior, which is unpredictable at best. And yet there are economic laws, just as there are laws of physics. You may be able to walk on the ceiling in the carnival fun house, but ultimately the Law of Gravity prevails. 1. 2. 3. 4. More

The Social Security Meltdown: A $35 Solution

By: Stephen L. Nelson, CPA Retirement Planning Views: 5196 | Comments: 0 | Votes: 0

Stephen L. Nelson, CPA

I've been thinking about those regular benefit statements we all get from Social Security. You know the ones I mean. They report on your lifetime earnings. And then they also say that about the year 2038, the system will have to cut benefits by 27% to stay solvent. The Problem A benefit cut sucks, of course. Yikes. Sound crazy? Maybe it is. Seattle accountant Stephen L. More