7 Questions You Should Ask Your CPA at Tax Time

My friend, Jerry Reiter, from BriteLine Wealth Management Group, gave me this list of questions that you should ask your tax advisor this season. 7 Questions You Should Ask Your CPA at Tax Time By Elaine Floyd, CFP 1. Will I be subject to the alternative minimum tax in 2010? For some clients, the answer will be a clear "Yes." Barring a major change in their personal finances or a complete overhaul of...

Getting paid to let your home go into foreclosure?

Program will pay homeowners to sell at a loss In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will take a new approach: Paying some of them to leave. To read the full story, please click...

Buying a home? These documents are needed to make a complete offer.

Documents needed to make a good offer. Are your offers being rejected?  Here is what is needed to have a complete offer package.  If you do not have the following presented from the start, your offer will usually not be considered. Copy of the Good Faith Deposit Check.  I recommend it be more than 1% of the offer price. Copies of Bank Statements (Proof of Funds). There should be enough money in the...

What are buyer closing costs and how much are they? Buying in Orange County, CA

What are buyer closing costs and how much are they? Summary:  Closing costs are all the fees that a buyer is responsible for paying when buying a home and can range anywhere from 1% to 4% depending on the loan program selected.  Fees are higher for FHA loans. These fees DO NOT include the down payment. Closing costs are broken down into the following: Loan Fees Appraisal – this ranges from $350 to...

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