Given the volatile and rather frightening state of housing market, many homeowners have been receiving notices from their county tax assessment boards appraising their homes lower than their current mortgages and thus lowering their home taxes. While many people would welcome a little more money into their pockets, some homeowners might be thinking this cannot be a good omen for them or their neighborhood. Hence, the question is whether homeowners, in general, fight lower tax appraisals.
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In this volatile and rather frightening economy securing a summer job is very challenging. However, for those who have summer jobs the prospect of paying Uncle Sam a relatively large portion of their income looms large. Let us understand how to ensure we report our income taxes properly for summer jobs…. Read More
What Do Reasonable Closing Costs for Sellers Mean?
Saturday, July 24, 2010 by Doron F. Eghbali
In this buyer’s market, many sellers find themselves lowering the price to the extent they can no longer do so. Yet, they soon realize potential buyers may still require more concessions at closing. This causes sellers to still lower the selling price beyond what they had reasonably expected in the worst scenarios. Let us analyze what reasonable costs mean and what they entail…. Read More
How to Raise Funds for Your Start Up in a Volatile Economy
Sunday, July 18, 2010 by Doron F. Eghbali
Frozen credit market with relatively highly persistent unemployment and stringent regulatory environment have all contributed to volatility in our economy. Start up entrepreneurs are frightened as they have worked really hard on their business plans and yet they have difficulty raising funds. Still, refining your plans and adapting your business strategy accordingly might help raise the funds even in this market…. Read More
What Does the Financial Overhaul Mean for Residential Mortgages?
Saturday, July 17, 2010 by Doron F. Eghbali
Financial overhaul recently passed by Congress would have several intended and unintended consequences. Such regulations might make it harder and more expensive to obtain residential loans. Concomitantly, such regulations would afford greater protections to people who could secure such mortgages. Let us analyze some of the changes effectuated by the financial overhaul bill…. Read More
We all might see higher taxes if Congress by the end of 2010 does not extend the tax cuts President Bush signed into law in the midst of his presidency. Expiration of such tax cuts has the potential to crimp further economic growth. Let us see what changes might loom large…. Read More
What is Factoring and How Should Businesses Use It for Cash Flow?
Monday, July 12, 2010 by Doron F. Eghbali
Many businesses worry about whether their customers pay them or whether their customers pay them on time so that they can manage their cash flow liabilities. You might have heard of “factors” who provide specialized assistance to businesses in securing accounts receivable. However, factoring is not for every business and businesses should exercise caution and prudence in utilizing services of such companies…. Read More
How Should You Lease a Car?
Sunday, July 11, 2010 by Doron F. Eghbali
Leasing a car could be an important decision in someone’s life because of contractual and financial costs involved. In fact, we should first know know if leasing is the right decision for us, and even if it is the intelligent approach how to intelligently implement it. Let us educate ourselves…. Read More
Fannie Makes It Harder to Just Walk Away From Your Home
Monday, July 5, 2010 by Doron F. Eghbali
Given the rather socially accepted trend to just walk away from one’s home when the mortgage far exceeds its value, has led to Fannie Mae implementing new rules and regulations. In fact, Fannie Mae announced new regulations aiming to penalize or rather deter such “strategic defaulters”, if they are unable to demonstrate they can pay the mortgage. Let us analyze this important development…. Read More
Recently the Swiss Parliament in a monumental move repealed the long tradition of bank secrecy and eased the way for the Swiss government to hand over to the IRS the names of about 4,500 account holders in UBS AG bank suspected of evading taxes. This raises several important yet intractable questions including: who are these 4,500 people? What does this mean to other account holders? Who are more likely to be pursued? How should taxpayers come clean? And, what procedures should be followed?…Read More