financial: Good Morning America: On TurboTax vs Accountants
- 05/24/08 04:56 AM
To see which method gives tax filers the "biggest bang for the buck", ABC's Good Morning America recently compared three popular tax preparation services: TurboTax H & R Block Personal accountant In declaring TurboTax the "winner", the 4-minute video glossed over several important tax-related items. The first is that true tax planning cannot happen in a 3-hour stint in front of a computer. Tax planning a year-round activity. The second is that all personal financial decisions should be evaluated for their tax implications. That can't happen without a personal accountant that knows your tax history and understands your financial goals. The … (0 comments)
financial: Real Estate Term : Negative Amortization Home Loan
- 05/05/08 10:53 AM
(Pronounced: NEGH-ah-tive am-ohr-tih-ZAY-shun) Negative amortization is the process by which a loan's principal balance increases on a month-over-month basis. This is in contrast to a "typical" amortization schedule in which the principal balance decreases. Negative amortization is an optional feature on some home loans. These mortgages are usually referred to by the brand names "Option ARM", "Pick-a-Payment", or "Payment Option ARM". Many industry veterans collectively call refer to these types of mortgages as "Neg-Am" loans. When a Neg-Am mortgage statement arrives each month, the homeowner can choose his preferred payment structure. Pay the minimum balance due only Pay the interest due … (0 comments)
financial: What Does It Mean To "Escrow" Taxes And Insurance?
- 05/05/08 10:52 AM
As a homeowner, your financial obligations extend beyond your monthly mortgage payment. Periodically, you are also required to pay real estate taxes and homeowner's insurance premiums. Each month, you pay your mortgage payment to a company called a "mortgage servicer" (because they "service" your mortgage each month). In addition to the risk of not getting paid by homeowners, servicers also face two other risks related to homeowners: That a homeowner's real estate tax bill will become delinquent and will be sold to a third-party That a homeowner's residence will face catastrophic damages during a lapse in insurance coverage But these risks … (0 comments)
To see which method gives tax filers the "biggest bang for the buck", ABC's Good Morning America recently compared three popular tax preparation services: TurboTax H & R Block Personal accountant In declaring TurboTax the "winner", the 4-minute video glossed over several important tax-related items. The first is that true tax planning cannot happen in a 3-hour stint in front of a computer. Tax planning a year-round activity. The second is that all personal financial decisions should be evaluated for their tax implications. That can't happen without a personal accountant that knows your tax history and understands your financial goals. The … (0 comments)
;)
;)
