Personal Finance Blog - Spreading Financial Independence. Guest Bloggers Are Welcome

Guest Bloggers Are Welcome

Credit score can survive smart loan modification

By: Kenneth R. Harney Home Loans Views: 3189 | Comments: 0 | Votes: 0

Financially stressed homeowners looking to cut their mortgage payments through a loan modification, short sale or principal reduction under one of the Obama administration's programs needn't wreck their credit scores in the process. Other alternatives to modification -- such as foreclosure and bankruptcy filings -- can tank your scores and take years to rehabilitate. Kenneth R. More

HIRE Act

By: Matthew Barrett Payroll Views: 3360 | Comments: 0 | Votes: 0

There are two components to this bill: · Social Security Tax Exemption – Qualifying employers will be exempt from the 6.2% employer portion of social security tax for qualified individuals hired between February 4 and December 31, 2010. Only social security taxable wages up to the wage base paid between March 19 and December 31, 2010 are eligible for the tax exemption. More

Guide to offshore banking in 2010

By: Telecom Advisor Personal Finance Views: 4175 | Comments: 0 | Votes: 0

2010 is set to be significant year for the respective banking industries of many countries around the world. In the UK customers look set to find the best savings deals, and banks are predicted to make moves to re-establish trust with savers more eager to switch to new accounts and new providers. So how is the offshore savings sector likely to change? More

Hefty tax bill may hit those who lost home

By: File Your Taxes Online Tax Planning Views: 3390 | Comments: 0 | Votes: 0

San Diegans who have lost their homes through foreclosure or short-sales thought they had emerged from the dark times and could start rebuilding their lives. Then the state tax man came calling. With less than six weeks before taxes are due, an estimated 16,000 former homeowners statewide will owe $15 million in extra income taxes this year and $29 million through 2012. H.D. 1, 2009. More

Out-of-state property owners tax being enforced

By: Tax Advisors Tax Planning Views: 5401 | Comments: 0 | Votes: 0

Come Wednesday, property managers throughout California will be required to pay the state 7 percent of rental proceeds to cover out-of-state owners’ estimated income taxes — a nearly 50-year-old requirement that is now being enforced as the state struggles with billions of dollars in budget deficits. “For us, it’s a tax matter,” Voet said. “It’s slavery. More

Home Foreclosure and Debt Cancellation

By: Tax Advisors Tax Planning Views: 5206 | Comments: 0 | Votes: 0

Home Foreclosure and Debt Cancellation The Mortgage Forgiveness Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for this relief. More

Do you have a list of clients that are Credit Challenged or have Poor Credit Scores?

By: NCR Credit Plus Credit Repair Views: 383 | Comments: 0 | Votes: 0

Do you have a list of clients that are Credit Challenged or have Poor Credit Scores? Do you have new clients that you cannot get them a loan because of their low scores? Do you have clients that you have to say “sorry we can’t help you”? NCR Credit Plus will take your potential client’s enroll them into our program. Our “Average” time frame is 6 months. More

New Mileage Rates for 2010

By: Tax Advisors Tax Planning Views: 4400 | Comments: 0 | Votes: 0

New Mileage Rates for 2010 If you drive a car, truck or van for work, you'll want to make sure you know the standard mileage rates that the Internal Revenue Service (IRS) has set for 2010. And remember, these mileage rates are not just used to calculate deductible costs for driving an automobile for business, but also for charitable, medical or moving purposes. More

The Making Work Pay Tax Credit

By: Tax Advisors Tax Planning Views: 4547 | Comments: 0 | Votes: 0

In 2009 and 2010, the Making Work Pay provision of the American Recovery and Reinvestment Act will provide a refundable tax credit of up to $400 for working individuals and up to $800 for married taxpayers filing joint returns. These changes may result in an increase in take-home pay. More

$8,000 First-time Home Buyer Tax Credit

By: NCR Credit Plus Credit Repair Views: 6676 | Comments: 0 | Votes: 0

* The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase. * The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000. Who Qualifies for the Extended Credit? 2. No. More