The Tax Preparation Blog

Posts Tagged ‘estate’

Question: How does cutting funds for education help the deficit?

I heard that teachers across California were being laid off in order to help the state government with its deficit.

If kids have a chance at getting a better education, wouldn’t they go onto college and averagely have a higher income than those who did not have the same opportunities? They would have more spending money, buy more commodities and contribute to property tax, income tax and sales tax.

It would seem that you would want to invest in education, not destroy it. I guess this is just another example of how idiotic politicians are.

Answer: Before the Dept of Education property taxes paid for their local schools and parents actually held the schools accountable for their childs education. I find it interesting that since the implementation of the DOE our nations test scores and education levels have dropped significantly. Just another example of over paid and inefficent government programs, imho.

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As we stagger into 2010, here’s how much DFW’s business landscape changed in a chaotic 2009

Liesl Gray of Fort Worth heard only five words from the voice-mail message before she dissolved into tears.

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This is the Best Housing Economy in History…for Tax Lien Investors!

There has never been a better time in history for tax lien investing, ask anybody that’s doing it!

This economy has made getting a house from your Tax lien investment much easier, folks just aren’t paying their taxes and the banks are SO heavy in foreclosure inventory that it financially behooves them to write off the note and let the property go!

During a good economy, you can expect to get about a 90% redemption rate from the home owner. This means 9 out of 10 people pay their taxes before you, the tax lien holder, gains ownership of the house.
In this instance you get your investment back plus interest back, pretty wonderful worst case scenario, right?

Now fast forward to 2008!

The housing crunch has dropped the redemption rate in many markets to as low as 50%.

This is any amazing turn for Tax Lien investors, we now have a VERY good chance of getting half of the houses we get Tax Liens for.

WOW!!!

Back before the current housing crash, I would shop for the highest interest rate assuming that I would only get one to three houses for every ten liens I bought.

Huge governmentally secured interest rates and a few house seemed like the smartest thing I could do with my money…it grew fast!

But now…oh my gosh…houses are coming to me left and right!

Not only am I still getting my huge interest rates, but now a ton of my liens are “magically” becoming houses.

Just one quick example, I  bought 6 Tax Liens in the last auction in Indiana (I love Indiana because they have a 4 month…YES 4 MONTH redemption period)it’s looking good for me to get at least half of them.

That means 50% of my Tax Liens will become houses that I own free and clear for less than $2000 each.

No matter how bad the market is I bet I can find a buyer for a house that I can make a profit on by selling it for $1 more than $2000!

Best of all, if my buyer gives me a $2000 down payment on a house that I bought for $2000, I’m in a pure profit situation!!!

Your Best Bet-Rent to Own

Creative financing is never more welcome than at a time when the banks aren’t loaning money.

I bet there are millions of people in America right now that would kill to rent to own a house with me holding the note. No bank involvement!

This scenario is one of the great reasons for tax lien investing, rent to own your way to wealth!  If the Tenant pays off the note, good for them, they get a house for a fantastic deal.

If they don’t pay their note down month in and month out, you convict them and get your house right back on the market. Again, as long as you got enough down payment from the tenant to cover your investment in the house-you are in a total profit situation.

This is the secret to making great money from the homes your get from your tax lien investments, especially in a “down” economy.
There are times in economic history when loans are much harder to get than other times; smarts investor take advantage of these times and can help people out of their troubles as a moral benefit.

So there you go…a very long winded way of saying your crazy not to visit http://secure606.1clicksite.hop.clickbank.net and get to work investing today!

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New California Laws For 2010

Summary of New California Laws for 2010

Question: How much money do I need (salary) to live comfortably in Bangalore, there is four of us, 2 adults & 2 children

My income in US is US$80,000 before taxes…so you can figure out how we live in here (midwest university-town)
I have been offered a job in Bangalore, but is hard to make sense of money matter, “Indian rupees”, In Jan 2008 the exchange rate was roughly Rs 40 to USD 1. but what does that mean?
How much should I ask? In the USA my salary is US$80,000 a year,We live in the midwest in college-town, safe and sound. I have debt here, and I want to be sure that I’ll be able to live comfortable there while able to pay my bills here (car payment, mortgage about US$1700 a month in bills that I can stop paying + living in Bangalore)

Answer: yes you will be more than comfortable!!!

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Four ways to tax Wall Street’s rich

With the House voting Dec. 3 to extend the estate tax at current rates, the fate of the tax now lies with the US Senate. At least 14 multimillionaire senators – and possibly far more – could be di…

(2006) Ron Paul: GOLD AND THE US DOLLAR [Part 4]

Piper Jaffray thinks clean tech is poised for recovery

A year ago, the political winds all seemed to be behind the clean tech movement. Many states had passed mandates for renewable energy production.

Avoiding Common Sales and Use Tax Problems – Pt. 2

Question: GPA needed to work for Big-4 accounting firms?

I’m currently a Senior at the University of Illinois at Urbana-Champaign and am majoring in accountancy. After finishing my undergrad I will get a Master’s of Science in Accountancy from U of I as well. Currently, U of I’s business school is ranked 11th in the country and the accountancy program is ranked #2 in the country. U of I is one of the few target schools for the Big-4 companies for auditing and tax around the Chicago area. My current overall GPA is a 3.40/4.00 and my Major GPA is 4.00/4.00. Is my GPA high enough to have a decent chance at getting an internship in auditing at one of the Big-4 companies and eventually a job?

Answer: Yes, your GPA is high enough. I was in a similar situation where my accounting GPA was higher than my overall. I only included my Accounting GPA on my resume as most firms don’t really care about the impact of a freshman composition class.

There are two sides to the 5 year requirement for a CPA. More time in school vs. more time in school. I was grandfathered in just before the requirements changed so I didn’t have the advantage of college life that extra year. Enjoy it so you can work hard and make a good impression your first year at the firm.

More Economy Pages

Abstract: Despite decades of repeated failure, President Obama and Congress continue to promote the myth that government can spend its way out of recession.

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