"You don't automatically get an exemption. You have to make a claim [to the creditor] for it." Involuntary Liens 1. Tax Lien If you fail to pay your taxes, the Internal Revenue Service can place a lien on your property, which includes your real estate, personal property and financial...
1. Are you going by a "gut feeling" about owing taxes or have you just completed a tax return and found out that you owe taxes? 2. What is the true cause of you owing taxes now: either by your gut feeling, as a result of estimating taxes, or completing a tax return? 3. Are ...
A lien gives an individual or entity a claim to a property until a debt is paid off. If the debt goes unpaid, they have the right to take it back. ... It'sgenerally considered to be a bad thing if you have a lien on your property. What happens if you buy a house with a lien...
VA loans:The federal Department of Veterans Affairs (VA) guarantees loans for current and former members of the military and their families. VA loans provide very favorable terms to eligible borrowers and have limited qualifying requirements. You can get a VA loan with no down payment so long a...
There are many tools the IRS can use to force you to pay your tax debt, and they won’t hesitate to use them! Putting a lien on your property, garnishing your wages, and adding penalties are just some of the things they have the authority to do. They can also pull money out of ...
Is a donation to a professional association deductible as a business expense? What qualifies as itemized deductions? Are HSA contributions from an employer taxable if they're not used? When does an IRS tax lien expire? Do CPAs pay taxes? Do contractors have any tax deductions? When does depr...
I have a resource that will help you with it. If you go to the whitecoatinvestor.com at the top under the book section, you'll find not only links to my books, but links to great books by others. Those are great resources for you to learn how to write up your own financial plan...
If I have $40,000 of pre-tax, what are the differences between $1,000 tax credit versus a $1,000 tax deduction for a single taxpayer in the 25% tax bracket? Explain the difference between EITC and welfare. What is the difference between tax credits ...
Lender’s title insurance, also called seller title insurance, will protect the lender from financial losses should someone have a material claim to the property, such as an unpaid tax lien or actual ownership. In such a situation, title insurance will compensate the lender for the remaining out...
For example, if your property was purchased years ago when rates were higher, you might find it advantageous to refinance to take advantage of lower interest rates. In addition, variables may have changed in your life,allowing you to handle a 15-year mortgage, saving on the loan's total in...