Posts Tagged ‘mortgage’


3 Easy Steps to Rent Your Real Estate to Your Business

http://www.dreamstime.com/stock-photography-symbol-new-house-image4640592

 

 

Many business owners will eventually buy a building and then rent it to their business. This can be an appropriate strategy for many.  If you are planning on being in business for an extended period of time why not own the real estate? If you do own rental real estate you’ll need to know how to Continue reading »


When to Borrow Against Your 401(k) Plan

While you don’t necessarily want to borrow against your 401(k) plan, there might be some situations when you would consider it.

401(k) Plan Loans

The Internal Revenue Service (“IRS”) allows employers to allow employees to borrow against their 401(k) plan. For an employee to borrow against his 401(k) plan this loan provision must in the plan document. The maximum that can be borrowed is one-half the account value, not to exceed $50,000.  The employee must … Continue reading »


3 Reasons Many Family Loans Turn into Grants

Have you made a loan to a child or grandchild?

When making a loan, you have an expectation of getting paid back.  When a family loan turns into a grant, you’re not going to get paid back. Here are 3 reasons a family loan may turn into a grant.


7 Easy Steps to Manage an Estate in Connecticut

Please review 6 Easy Steps to Open an Estate in Connecticut.

 1) Post a Probate Bond

 

Unless the will specifically indicates a bond is not required, the executor will need to get a Probate Bond. The coverage and insurance premium will be based on the expected size of the estate. The executor may have to front the money to get the bond as the estate checking account may not have been open yet.

  


When is Cancelled or Forgiven Debt Taxable?

If you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable. This type of debt includes mortgages, credit cards, car loans and student loans. Lenders are required to send Form 1099-C, Cancellation of Debt, when they cancel any debt of $600 or more. The amount cancelled will be in box 2 of the form. If you disagree with the amount reported contact your lender to work out any discrepancies … Continue reading »


Web Statistics