admin | March 3, 2010
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An investor needs accurate records of his or her rental income and expenses to prepare the investor’s income tax return.
The following items should be recorded to collect required income tax information [...]
admin | January 8, 2010
The appearance of some of the towns in Lake County, IN are far from what the vision of those towns were when they were developed in the late 1800 and early 1900.
Lake County’s history span several decades. Its history is surpassed only by Chicago who is fifty years older.
Lake County, though only 43 miles east [...]
admin | January 1, 2010
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December 31 is the deadline for qualified senior to file for two percent cap on his or her property taxes. This credit is for seniors in Lake and Porter Counties in Indiana; however, the auditor’s offices in both counties are reporting low or limited interest by seniors. [...]
admin | December 5, 2009
There are different types of ownership deeds you may receive as a real estate investor. The types of ownership deeds are general warranty deed, sheriff’s deed, quit claim deed, special warranty deed, tax deed, trustee deed, and certificate of title.
It is important to understand that no matter which ownership deed you receive it is best [...]
admin | November 30, 2009
The IRS made changes to the tax that will affect 2007 tax returns if the investor claims a loss. In addition, just reporting a loss may cause your taxes to be audited.
The new law has to do with the real estate investor classification. The investor can be classified as a real estate professional. Under [...]
admin | October 30, 2009
Image via WikipediaDid you know that the $8000 tax credit expires 11/30/2009? That means there are only 131 shopping days remaining. The reason the number of days is significant is that the buyer do not have to pay the $8000 tax credit back to the government as long as the buyer resides in the home for [...]
admin | October 26, 2009
Chapter 7 Bankruptcy
All assets are frozen when a Chapter 7 bankruptcy is filed. The attorney creates an automatic stay. Under an automatic stay, the homeowners will not be able to buy anything, the homeowner will not be able to sell anything, and the homeowner will not be able to give away anything. All unsecured debt [...]
admin | October 17, 2009
It is very important to know if a short sale is the best answer for your situation. A short sale becomes a viable option when you cannot get what you are owed on the property because of changes in the market. You may be thinking why would the lender allow a short sale and why [...]
admin | October 16, 2009
Great news for the state, but more importantly for Lake County. If you were not aware when the first information came out about changes or reassessment of taxes it was stated that all but two counties were going to benefit from the changes. You guess Lake County was not going to benefit, but at least [...]
admin | September 28, 2009
Get this 5 bedroom 2.5 bathroom home for $28,500 or best offer for a limited until September 30, 2009.
Contact Serena for more details at 219 803 4489 or 219 614 9390.
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