Finance, Loan, Debt and Credit.

January 30, 2016

Consolidating Credit Card Debt For Substantial Savings

Filed under: Credit — Tags: , , , , , , , — admin @ 12:46 pm

Consolidating credit card debt can help you cut back on your monthly bills.

It doesn’t take long for credit card debt to spiral out of control. Being out of work for a short period of time, medical expenses, and many other things can cause our debt to feel uncontrollable. Fortunately there are companies out there that are in business simply to help those that need it.

Hector Milla Editor of the “Credit Card Debt Free” website — http://www.CreditCardDebtFree.org — pointed out;

“…Debt consolidation works by taking your financed debt and lumping it all together. The consolidation company will work with your creditors to reduce the amount you owe. In most cases they are able to reduce the amount of the interest owed, and many times they can negotiate a payoff amount. Once the consolidation company is able to iron all of this out, they will total up the amount of your outstanding debt at the new numbers. Then they pay the debt off, and have you make a payment directly to the consolidation company. In most cases, consolidating your debts is essentially paying off all your outstanding debt and taking a new loan. Not all companies work this way, but the vast majority of them do…”

In negotiating a payoff, your monthly bills can be cut drastically. Some people have reported saving as much as 60% a month in their expenses by doing this. It will also help save your credit score from decreasing anymore. If you are facing increasing credit card bills, increased interest rates, and there seems to be no way out, consolidation may be the best answer for you.

On top of helping to cut your expenses back, many consolidation companies also offer credit counseling. This is a great option to help those who have gotten in over their heads avoid doing so again. It’s important to stick with a plan. Going at this with no help can be hard. Credit counseling services in conjunction with debt consolidation can be a great way to fix a problem, and prevent it from happening again.

“…Many people face tough times. Seeking help doesn’t make someone weak. In fact, it’s the opposite. Knowing when to ask for help can be the strongest thing to do. If you are facing a financial crisis like so many people do, seeking a consolidation company can help save you from further turmoil. It’s a simple process, and can give you the stability you need to get back on track…” added H. Milla.

Further information about trusted and reputable companies for credit card debt settlement by visiting; http://www.CreditCardDebtFree.org

May 16, 2013

Tax Reduction (casualties Can Generate Substantial Tax Reduction)

Filed under: Tax — Tags: , , , , — admin @ 12:46 am

Tax Reduction (Casualties Can Generate Substantial Tax Reduction) Tax reduction are the results from tax deductions. Tax deductions reduce taxable income but do not directly reduce federal income taxes. For example, $100,000 of tax deductions reduces federal income taxes by $35,000 ($100,000 X 35%), assuming a 35% tax rate. Most tax reduction require a cash expenditure (labor, material, supplies, utilities, etc). A current period cash expenditure is not required for some real estate tax deductions and may not be required for a casualty loss. A casualty loss may occur as a result of a flood, hurricane, tornado, mudslide, or other natural disaster. The intuitive thought pattern is: “My apartment complex worth $5,000,000 suffered major damage totaling $1,500,000 for repairs and rent loss. Fortunately, I was completely covered for both physical damage and rent loss, other than a small deductible. There is clearly no casualty loss which will generate tax reduction, right?” Most real estate owners and investors believe the above statement to be true. Few investors claim the casualty loss tax reduction the federal income tax code allows them. Let’s next review the criteria for a casualty loss tax deduction and the thought process regarding acquisition of a property that has suffered a casualty. Real estate owners suffer a casualty loss when the market value immediately after the casualty plus insurance proceeds is less than the market value immediately before the casualty. The complex issue is how to value the property immediately after the casualty. Let’s consider a 1-story suburban office park in Mississippi which suffered 3-feet of flooding due to Hurricane Katrina. Let’s further assume: 1) 8 feet of sheet rock must be replaced in the entire property to rebuild, 2) although the property was 90% occupied before the flood, occupancy is expected to only be 5% while rebuilding occurs, 3) stabilized occupancy after renovation is not clear since some businesses may not return, 4) construction will take 12-18 months due to the labor constraints and 5) the owner has casualty insurance to rebuild but did not have rent loss/business interruption insurance. It is clear the market value after the casualty is less than the market value before the casualty less construction costs. Other factors to consider are: rent loss, market risk that not enough tenants will be available after construction is completed, cost of construction management, a illiquid market with few buyers just after the casualty, construction risk, interest rate risk (rates could rise during the construction period negatively affecting value), risk that operating expenses could increase during the construction period (perhaps insurance) and compensation for entrepreneurial effort to induce a buyer to coordinate labor capital, management and endure the previously mentioned risks. A careful analysis by an appraiser might show the improvements have no value after the flood. In appraisal assignments performed by the writer, a casualty loss of 10-30% of the market value before the casualty has occurred (in a straight-forward, defensible analysis) is typical. This can generate a meaningful casualty loss tax deduction which results in tax reduction. For example, a property with a market value of $5,000,000 suffers a 30% casualty loss. While the casualty is a serious hardship for the owners, the $1,500,000 ($5,000,000 X 30%) tax deduction will mitigate the financial loss. Based upon a 35% tax rate, the tax reduction is $525,000. Congress provided a casualty loss tax deduction to encourage investment in real estate. If you have the misfortune to suffer a casualty loss, take the helping hand offered by congress and take the tax deduction. Click here for a FREE preliminary analysis of income tax savings for your property. Cost segregation produces tax deductions and reduces federal income taxes across the country and in every size market. Below are just a few examples of cities where cost segregation generates meaningful tax deductions. City:

Cost segregation produces tax deductions for virtually all property types, including the following: Property Type:

Almost every industry, including the following, can generate cost-efficient tax deductions by using cost segregation. Industry:

O’Connor & Associates is a national provider of commercial real estate consulting services including cost segregation studies, due diligence, insurance valuations, tax deduction, tax reductions, cost segregation, market study, feasibility studies, property tax, market research, condemnation appraisal, gift tax, lease abstraction, casualty loss, Fort Bend Central Appraisal District, Tips and Tricks for Appealing Your Property Taxes in Harris, Harris county appraisal, and Federal tax reduction. Our appraisers have experience with all types of property including department stores, research and developments, lumber storages, fast food restaurants, convenience stores, retail centers, airplane hangars, lodgings, daycare centers, hotels, truck stops, manufacturing/processing facilities, greenhouses and auto dealers.

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