Saving Too Much Can Sometimes Be Expensive
When it comes to money topics, you’re always hearing how to save more. But even with the best of intentions, you can run into trouble when you try to save too much. Here are four ways that savings can get in your way and how you can correct them. Savings that turns into spending. Buying […]
New electronic tools coming into use
The exploration of digital tools is expanding in ways that that are likely to continue well beyond the current world of social-distancing. The situation is creating change for types of transactions that have traditionally been focused on many in-person meetings and rounds of paperwork and walk-throughs. Sellers, real estate agents and landlords are using a […]
Bill pending in Congress would allow remote online notarizations
A bill pending in Congress would approve the use of remote online notarizations, making it easier to close on houses even if you cannot meet in person. The measure, called the “Securing and Enabling Commerce Using Remote and Electronic Notarization Act of 2020,” would allow every notary across the country to perform remote online notarizations. […]
Fix in stimulus law gives tax benefits to real estate owners
Commercial real estate owners can now get big tax benefits, thanks to a fix of a glitch from 2017 contained in the economic stimulus measure passed in late March. A provision in the new law fixed a typo in the 2017 Tax Cuts and Jobs Act, which was intended to allow certain real estate businesses […]
More time for 1031 exchanges, opportunity zone investors
The IRS is giving investors with like-kind exchange or opportunity zone investment deadlines between April 1 and July 15 more time to complete their deals. The deadline is extended to July 15 for all taxpayers, including trusts, estates, corporations and other non-corporate tax filers. Like-kind exchanges under Section 1031 allow real estate investors to sell […]
Dual agents: When the same realtor represents both the seller and buyer
When you sell your house, your real estate agent usually represents you throughout the process. And your agent has a fiduciary duty to you, which means he or she has a responsibility to act in your best interest. It is possible for the seller’s agent to represent the buyer as well. But how does that […]
Free tax preparation help is available to seniors
Seniors and retirees should know that they may be able to use online tax preparation software free of charge. Most low- and middle-income Americans qualify for free help but do not take advantage of it, and all seniors, regardless of their income, are eligible for free counseling assistance from the Internal Revenue Service. The tax […]
Turning 65? You may need sign up for Medicare Part B
If you are paying for your own insurance, you may not think you need to sign up for Medicare when you turn 65. However, not signing up for Medicare Part B right away can cost you down the road. You can first sign up for Medicare during your Initial Enrollment Period, which is the seven-month […]
When inheriting real estate, consider your options
Inheriting real estate from your parents can be both a blessing and a burden. Figuring out what to do with the property can be overwhelming, so it is good to carefully think through all of your choices. There are three main options when you inherit real estate: move in, sell, or rent. Which one you […]
How does the Coronavirus Relief Act affect seniors?
In addition to authorizing direct payments to most Americans, including seniors, the $2 trillion economic relief package that Congress passed to help Americans deal with the devastating financial impact of the coronavirus pandemic changes required retirement plan distributions for this year and includes Medicare-related provisions. Signed into law on March 27, 2020, the Coronavirus Aid, […]
