We were three days from closing on a 45-day escrow. I was working with a first-time buyer who was becoming more and more anxious as the closing date grew nearer. Then, I received a call from the listing agent. Her client, an “experienced” investor, wanted to perform a 1031 Tax-Deferred Exchanged. “What,” I asked her. [...]
There are many ideas floating around out there about money. So many of them are off base by just enough to cost you money. Here are a few of the most common money myths that aren’t always correct. 1. The savings account myth. Having a savings account doesn’t really mean that you are saving money. [...]
The income of a newspaper carrier who is under age 18 is not subject to the self-employment tax (Sections 1402(c)(2)(A) and 3121(b)(14)(B)). This rule also applies to carriers of magazines who are under age 18. The carrier must distribute the newspapers or magazines to the ultimate consumer for a fixed price. The compensation of the [...]
Credit counseling agencies are equipped with many services; someone who is in need of economic advice or help has the ability to choose among a rich arsenal of weapons in order to find the best way to approach a very specific financial situation. Through these services, even the people who are in the most severe [...]