2011 Taxes to 2024 Taxes

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  • Companies That Offer Cash for Houses: Vital Information Everyone Should Know

    In the current real estate market, it may be tempting to consider contacting one of the companies that offer to buy your home and pay you quick cash.  However, there are some things you should consider before you “bite” at one of these offers.

    Why Would Anyone Sell Their House for Fast Cash?

    Most people sell for cash because they cannot afford to leave their house on the market while waiting for the right buyer.  Here are some reasons why you might consider selling a house directly to a business for cash instead of through a conventional sale:

    • You are behind in mortgage payments and facing foreclosure.
    • Your rental property has been vacant, it is not in shape for new tenants, and you cannot afford the renovations.
    • A crime or death has occurred in your home.
    • You are getting divorced.
    • Your real estate listing has expired.
    • Your house has experienced some type of damage.
    • You need to relocate quickly (perhaps because of a job transfer).
    • You are filing for bankruptcy.
    • You are evicting bad tenants who have trashed your house.

    If you find yourself in one of these situations, you are eager to make the sale, and walk away from your burden with some money in your pocket to put toward starting over.  The companies that offer to buy your house know that you are desperate, and they have specific marketing pitches aimed at people in your shoes.  While they may make it sound like they are “helping” you, in reality they are seeking to gain from your loss.

    Tactics Used by Fast-Cash Companies to Lure You

    When you sell something quickly for cash, especially to a business, you are receiving only a fraction of the item’s worth.  Just like pawn shops, or car dealers who buy your trade-in vehicle, fast-cash companies intend on reselling your home and reaping the profit.  Unlike you, they have the time, money, and know-how to get your house sold for top dollar.

    Companies who pay cash for houses do not have your best interests in mind.  They are looking to make money, which means they are not going to pay you the full market value of your home.  They know that you are desperate to sell and are taking advantage of your situation.

    Only Sell for Fast Cash as a Last Resort

    If you cannot afford to keep your home and need to get rid of it quickly, there are alternatives to fast-cash sales.  You might consider remortgaging your home to lower the payments, or you may want to be more diligent about finding trustworthy tenants to whom you can rent your property.  Even by lowering the rent payments to less than the mortgage payments, you are probably losing less money than you would by selling the house for cash.  There may be other options available to you.

    Any time you are interested in making a real estate transaction, whether it is a fast-cash sale or a commercial property investment, you should talk to a knowledgeable real estate professional or attorney before proceeding.

  • Stock Market Trading Tips for Value Investors

    On the out-set the stock market can seem intimidating.  Most people don’t understand how it works, and many people are under the assumption that a simple savings account is a safe investment.  What many fail to realize is that with the inflation rate where it is, having a savings account is just throwing your money down the drain.  Investing in the stock market is a bit trickier but by doing a little research and having a qualified brokerage on your side it’s no different than learning to drive a car.  From there everything relies on how well you can pick stocks out.

    There are a few schools of thought when it comes to picking stock; however, one universal quality that all investors should strive for is a diverse portfolio.  What that means is that you’ll want a variety of businesses and industries covered in your stock portfolio.  Diversification is a tool that works something like commercial insurance, where if one major industry declines, you will be able to reap-above average returns from another sectors. For example, in a recession, the tech market may start falling, but grocery stores and large retail mixed goods stores may rise, offsetting your loss.

    Some other stock market trading tips when investing are to invest in what you know.  Pick companies whose products you know inside and out, that way when they make any changes you’ll know if it is a positive one that will help your stock portfolio, or if it may have been a poor choice on their part that could hurt your portfolio.  The next step is diversifying risk.  If you’re young, you can afford to invest in some cheaper, more risky stocks, on the basis that you have more time in your life to recover from a bad investment, and risky stocks can pay off really well.  However it is always good to have a few secure companies that you know aren’t going anywhere anytime soon.  Products like Microsoft, Apple, Union Pacific, etc. will likely be around for decades to come, if not longer.

    No matter how you invest your money, just make sure that you diversify everything possible!  Diversify risk into both risky stocks and safe stocks.  Diversify your industrial sectors, and diversify within these sectors down to the individual companies.

  • Choosing a Management Private Wealth Adviser

    Management private wealth advisers can help those in any income bracket become better prepared for the future. These professionals can offer input into everything from knowing how much savings one will require going into retirement to what percentage of their income should be invested into various investment portfolios. For many, the thought of planning their finances is a bit intimidating. This intimidation can lead to being under prepared when the time does come to finally retire. In order to ensure that you are ready for any financial situation that is to come, consider partnering with such an adviser.

    Though the name may imply that these advisers only work with the wealthiest clients, this could not be further from the truth. In fact, many companies offer consultations with these advisers as part of their standard employee benefits package. No matter what your salary, they can give you advice on what percentage of your income should be put into a 401K, how much you should be investing, and even whether or not you are at a point in your life to make any large property investments. They can help anyone navigate the sometimes confusing financial world and ensure that their money is working for them.

    For those who have just been named in a will, general wealth planning advise may not be the best choice. Instead, find an attorney or accountant who specializes in inheritance tax planning advise. They can give you information on how any inheritance that you receive should be reported for tax purposes, as well as how to plan your will to reduce the tax burden on your family.

    Dealing with personal finances is a complicated matter that can have a huge impact on your future stability. If you are looking for help in determining how to use your money in the best possible way, seek out the advice of a management private wealth adviser.

  • Annuity Payout Options

    One of the many ways to secure the financial future is through the purchase of annuity contracts. Like the regular pension account, annuities are also a form of retirement savings that allows you to receive periodic pension after a series of contribution payments. One of the perks of acquiring annuities is that you can choose from the different types of contracts available. Another benefit is the different payout options to choose from for the periodic distributions. Here are some annuities explained:

    Straight-Life Annuity

    In a straight-life annuity, the annuitant receives regular payments until he dies. Therefore, the length of time that the insurance company will distribute the payouts will largely depend on how long the annuitant is going to live. The company bears risk in that it will only be able to keep whatever is left if the purchaser of the contract dies early. Also, there is no designated beneficiary, as no more payment is allowed after the annuitant’s death.

    Life Annuity with Period Certain

    The length of time that the payouts will be made is already determined in the life annuity with period certain option. Unlike the straight life annuity, there is a beneficiary designated who will receive any amount left should the annuitant die before the pre-determined period ends.

    Unit Refund Life Annuity

    In this payout option, there is no pre-determined annuity period. Therefore, the amount of payout will depend on the total value of the annuity units accumulated by the purchaser of the contract. And should he die without getting the whole value of the annuity units, the remaining portion will be paid to an assigned beneficiary.

    Joint and Last Survivor Life Annuity

    In the joint and last survivor life annuity option, lifetime payments are also made. In this type of payout, however, distributions are given to two people.

    The future is uncertain that you should always come prepared. So make a decision now to purchase an annuity contract for a secured future.

  • How to Find Reputable Structured Settlement Purchaser

    Settlements in structured payments have become a great part of worker’s compensation and personal injury claims in the U.S., based on the report of the NSSTA or National Structured Settlements Association. In fact in 2001, the NSSTA’s life insurance members procured more than $6.05 billion of annuities utilized as settlements for lawsuit claims.

    A structured settlement is known as a way to disperse funds from a legal claim where a portion or all of the arrangement requires future periodic payouts. The funds are provided in regular installments such as monthly, quarterly, semi-annually, annually – either for a particular period of time or over the lifetime of the claimant. The structured settlement may as well incorporate some immediate money payments to pay for special damages. The payouts are typically made through an annuity purchase from a chosen life insurance company.

    While a structured settlement comes with a number of benefits, some people still choose to look for a structured settlement purchaser if they find the structured payouts insufficient or inappropriate to compensate their huge expenses.

    The Buyer

    If you are one of those who consider selling your settlement, then you’ll be glad to know that you can make this happen almost easily. There are investors and financial institutions that search for sale settlement structured.

    If you are experiencing a difficult time managing your funds, or declining offers from friends and family desiring to get their share in your wealth, then getting money in installments will surely make your money lasts longer. On the other hand, if you feel quite restricted by periodic payouts, especially if you are trying to procure a new home or make a large purchase, then selling the settlement structured will be your best option since you can’t borrow funds against your future payments covered by your settlement.

    From an investment viewpoint, a structured settlement may not be useful or may not make real sense for everyone. In fact, several standard investments can furnish greater and larger long-term returns than what annuities can offer inside structured settlements. Thus, it may be more advantageous to search for a structured settlement purchase and get lump sum money and invest such funds yourself.

  • Tax Refund Advance

    Tax Refund Advance

    Tax season comes but once a year, and there are many options available to the taxpayer for handling their tax returns. Those who wish to prepare their own returns, there are on-line resources and various software programs available.  Others may have more detailed and difficult paperwork to complete during tax time, and may hire a personal accountant, or CPA, to handle the chore.  One of the more popular choices seems to be to use one of the commercial tax services like H and R Block or Jackson Hewitt.  The reason for their popularity generally is associated with the promise of a quick tax refund when one is anticipated.

    Tax laws are constantly changing, so there are numerous ways for individuals and families to qualify for various tax refunds.  For many people the anticipation of a refund brings about much excitement, as well as impatience.  For  those who prepares their own taxes, they must file and wait a matter of weeks for their funds to arrive.  Yet for those individuals who have taxes prepared by a commercial preparation service, they can get money back in a matter of days, or even hours.

    In order to receive a rapid return, commercial tax services offer what is called an “anticipated refund tax advance loan”.  This service actually issues a loan from a participating lender in the amount of the anticipated refund.  In actuality the taxpayer is taking out a personal loan which is secured by what their refund is supposed to be, meaning that there are costs attached to that privilege.  The fees for this service are quite high, and most people do not actually realize just how much money they are loosing in this process.

    Tax preparers will generally charge inflated fees simply for the act of preparing tax paperwork.  This service is considered to be worth the headache for many people, and in those cases seem acceptable.  It seems that those who select the option to get their money back faster are also not bothered by the tax preparation fees, or the extra “minimal loan” fees, added for the speedy refund.  In most cases, the refund amount seems to be a substantial enough amount, that those people might not immediately miss the several hundred dollars they spend to receive it.

    On average, a minimal loan fee might be as little as $30 dollars, but can become as high as several hundred dollars, depending on how much the actual return is worth.  For example, if an expected return would be as much as $1000, the taxpayer then might then be charged a $200 fee for the benefit of preparation and quick return.  This fee of course depends on the service provider, but in this example the fee amounts to loosing as much as 20% of the given tax return.

    Most people are anxious to get their anticipated monies back at the end of the year.  For some it is a necessity as economic times are still hard for so many.  For others it is the result of a large scheduled project such as a home remodeling, a shopping spree, buying a new car, or any need that requires a substantial chunk of money. It is important to first understand what choices are available to handle tax returns and refund options, know what the benefits and costs are, and then choose wisely according to what the individual needs might be. Smart choices will make tax time less stressful and costly for the taxpayer.