Taxes are what you pay to the federal, state and local governments where you live. Different types of taxes include income taxes, capital gains tax, sales tax, estate tax and real estate taxes such as property tax. Learn how to bequest property and do transactions in a way that will help you pay less taxes and follow the law.
Down Payment And Closing Cost Financial Assistance
When you're a first time home buyer you can potentially find money for a down payment or closing costs through a community group that helps promote home ownership. When you're a first time home buyer you should look at what local consumer groups offer to help with down payments or closing costs. Some groups offer second mortgages instead of direct down payment or closing cost assistance.
Avoid Getting Caught In A Tax Scam
Some tips on how to avoid being caught in a scam when you file taxes this year.
After College Pay Down Non-Tax-Deductible Debt
Many people who graduate from college have a lot of student loan and credit card debt. Which debts should recent college graduates pay down first? You should always pay off your highest, non-deductible debt first.
Benefiting From The Starker Trust
Rental properties fall under the category of investments. There are two kinds of investments -- long-term investments, which are investments you have held longer than a year and short-term investments, which are those you buy and sell within a 12-month period. When you sell a long-term investment, you have capital gains taxes to pay on any profit.
Mortgage approval possible without tax filing history
Young first time home buyers are often worried that the lack of a tax filing history will keep them from being approved for a first mortgage. But a history of filing taxes is not always necessary when applying for a first mortgage. Lenders have other ways to establish credit history for a first mortgage besides tax filing history.
Pay Taxes On Property With Mortgage
When you win a property in a contest you'll owe taxes on your winnings. How should you pay the taxes on a property you win? One option is to take out a mortgage specifically to pay the taxes on the property you win.
Home Equity Loan Can Pay Off Other Debt
You may be considering taking out a home equity loan to pay off other debt. A benefit to having a home equity loan is that you can deduct the interest on your taxes. The downside to taking out a home equity loan is if you don't keep up with payments the lender can repossess your home.
Identifying And Fixing Your Credit Problems Part II
Having good credit means more than just being able to secure a mortgage. Having good credit allows you to get a loan at the best terms and conditions offered in the marketplace. If you have credit problems, it's important to get them cleared up, and you have to do it yourself.
Capital Gains Tax Policy May Change After Election
Each time there's a new administration taking office some economic policies get changed. Learn one expert's predictions about what Clinton's reelection meant in 1996, including the impact on capital gains taxes. While Clinton promised much capital gains tax relief, it remained to be seen whether it would happen during his administration.