0
Add your answer:
Earn +20 pts
What are the California refinance rates?
The refinance rates you can find in California are not the same across the board in California. They can range anywhere between three percent or fifteen percent. Usually they are around four or five percent. The current refinance rates are running between 2.23% and 3.5%. These rates will be variable based upon the credit of the person applying. These rates also change on a daily to weekly basis.
What is export refinance?
Export Refinance Scheme was introduced with an aim to boost exports of non-traditional items. The finance is given on pre as well as post shipment basis for export of eligible commodities and an exporter may avail the export finance limit, based on his last year's export performance in respect of eligible commodities.
Where can someone find information about a no closing cost home refinance for their mortgage?
You may find information about no closing cost home refinancing for your mortgage from an experienced Realtor. You may also want to ask your local bank, as they have to do deal with mortgages on a daily basis.
What is the difference between a Short Sale and a Short Refinance?
A Short Refinance, also known as a short payoff, is a transaction, where the lender agrees to accept less than the full amount owed. Instead of the property being sold, it is refinanced with a new lender. The short refinance allows the homeowner to retain ownership of the property, while at the same time avoiding a foreclosure or possible bankruptcy. If you want to keep your home, but don't have enough equity to get into a foreclosure bailout loan, a short refinance is your answer. By negotiating a short refinance with your current lender, you can obtain a payoff of less than the full amount owed, and refinance your home with a new lender. Short Sale A short sale is usually an arm's length transaction, where the current lender agrees to accept less than the full amount owed when the property is sold. Many homeowners are experiencing a financial hardship and are unable afford their mortgage payment. We offer another solution for homeowner's to keep their home and create a new affordable payment. Would you like to keep your house? We negotiate with your lender, using a new technique called a Short Refinance to reduce your principal and help you keep your home. Do you prefer to be treated like a person rather than a Loan Number? Most loan servicing departments are flooded with borrower's calling everyday. These departments have policies and scripts for each phone call they receive, and you may be transfered back and forth between departments or put on constant hold. Once you finally speak to the right person, you are asked for your income and expenses. Depending on the information you provide, you will be told whether you qualify for assistance or not. This process frustrates many borrowers and causes them to believe there are no options available. We strive to work with borrowers on an individual basis and we provide solutions. The possibility of losing your home is stressful and you need an experienced professional to answer questions and guide you through the process. What does our commitment to personal service mean to you? It means that we focus on you and your goals. We are committed to being here, for you every step of the way. A Short Refinance may be the answer to keeping your home. Call us now at 858-693-5400 or www.short-refinance.com
If you get cash from a 2nd mortgage loan for a rental property can you add the cash amount to your cost basis and depreciate it even if you use the money for personal use?
No for many reasons. One, you depreciate tangible assets...a loan is not an asset...if you purchased additions to the property, those would be assets you could depreciate. Cash is intangible. If anything, taking money out of a property would decrease your basis, not increase it! You create the depreciable asset by buying it...not the opposite. You understand you have to recapture depreciation at ordinary rates on sale too, don't you?
If I change my primary residence to a rental for any period and then sell it at a loss can I deduct the loss?
You will never be able to take a loss for the decrease in value during the time it was a personal use property. At best, you'll be able to take a loss for any further decrease in value after you convert it to a rental property. It is very important that you get an appraisal at the time you convert it. If you sell it for a loss, your basis for determining a loss will be the lesser of the following two numbers: 1) The FMV of the property on day it was converted to rental use minus depreciation allowed or allowable. 2) The original adjusted basis of the property minus depreciation allowed or allowable. On the other hand, your basis for determining a gain will be the original adjusted basis minus depreciation allowed or allowable. If you have a gain use the loss basis and a loss using the gain basis, then your gain is considered to be zero.
Value property from income basis?
Your basis is the amount of your investment in property for tax purposes.
What are the California refinance rates?
The refinance rates you can find in California are not the same across the board in California. They can range anywhere between three percent or fifteen percent. Usually they are around four or five percent. The current refinance rates are running between 2.23% and 3.5%. These rates will be variable based upon the credit of the person applying. These rates also change on a daily to weekly basis.
What is tax basis for taxable income?
The original cost of a capital asset plus any adjustments to the basis of the asset and that will make be the adjusted cost basis when the capital asset is sold.Go to the IRS gov web site and use the search boxes for publication 550.Refer to Stocks and Bonds under Basis of Investment Property in chapter 4 of Publication 550, Investment Income and Expenses.Cost BasisThe basis of property you buy is usually its cost. The cost is the amount you pay in cash, debt obligations, or other property or services.Unstated interest. If you buy property on a time-payment plan that charges little or no interest, the basis of your property is your stated purchase price, minus the amount considered to be unstated interest. You generally have unstated interest if your interest rate is less than the applicable federal rate. For more information, see Unstated Interest andOriginal Issue Discount (OID) in Publication 537.Basis Other Than Cost
What is a 1033?
The basis of property purchased as the result of an involuntary conversion on which gain is not recognized is the cost of the replacement property less the amount of gain not recognized on the conversion. If qualifying replacement property is received as the result of an involuntary conversion, the replacement property's basis is the same as the basis of the involuntarily converted property decreased by any loss recognized on the conversion and any money received and not spent on qualifying replacement property. The basis is increased by any gain recognized on the conversion and any cost of acquiring the replacement property (Code Sec. 1033 (b) ¶ 29,640, ¶ 29,644).
A shareholder's basis in property received in a stock redemption is the property's fair market value?
true
Realized gain or loss is measured by the difference between the amount realized from the sale or other disposition of property and the property's adjusted basis at the date of disposition?
Realized gain or loss is measured by the difference between the amount realized from the sale or other disposition of property and the property's adjusted basis at the date of dispositionAnswer: TrueRealized gain or loss is the difference between the amount realized and the property's adjusted basis.
Is substituted basis more than cost of property?
mm
Is a change from the cash basis to the accrual basis a change in accounting principle?
Yes it is a change in accounting principle. And a rather drastic change. Accrual Basis of accounting is the most fundamental accounting assumption which is regarded throughout the world. Thus if a person either departs or adopts the accrual basis its a change in accounting principle.
What chemical principle is the basis for the activity series?
This property is called reactivity.
Does real property put into a trust get a new basis?
No, as a general rule.
Do I have to pay taxes on insurance paid on apartment building due to fire We r corporation?
Maybe.. The best way to describe the situation is to think of it as a sale of the property. You don't have to pay taxes on insurance proceeds up to the amount of your tax basis on the property. You will have to pay taxes on any payments above your tax basis. If you receive more than your basis you pay tax on the gain. This is assuming the property is a total loss. If it was repaired, then your basis would transfer to the repaired property, no loss, no gain.
