Income refers to any money that you make. It could be from your part-time job, your hot-shot career, investments, inheritance, or even if you sell property. All income must be reported to the IRS and factored in when you pay your income taxes. Look here for more information about income, taxes and how to protect your assets.
Real Estate Minute: Save Money Early For Retirement
Real Estate Minute with Ilyce Glink Is it possible for today’s twenty-something to put $1 million away in a retirement account over 40 years? You betcha.
Real Estate Minute: Stay-At-Home Mom Salary
Real Estate Minute with Ilyce Glink Sum Salary: Stay-at-home mom’s work worth $138,095 per year
Real Estate Minute: Buying A Home On A Fixed Income
Real Estate Minute with Ilyce Glink If you’ve got a fixed income, stop looking at million dollar homes.
Income Tax Owed On Short Sale
Homeowners sold their home for less than the mortgaged amount, which is known as a short sale. The IRS considers this as a gift from the lender and will collect income tax on the amount forgiven. The forgiven amount of the loan is commonly referred to as "phantom income" simply because it doesn't exist in your pocket or bank account. So, the seller now owes tax on what the IRS views as earned income.
Real Estate Minute: How Steady Is Your Paycheck?
Real Estate Minute with Ilyce Glink How Steady Is Your Paycheck? Original Air Date: October 16, 2006
NPR This Morning
I was interviewed on NPR this morning www.npr.org/templates/story/story.php?storyId=6123037 about what to do if you have an interest-only loan and wan...
Are You A First Time Buyer With A Low To Moderate Income?
I got a call on the show today from someone who earns $28,000 per year and wants to buy a house. He'll only qualify for about a $90,000 mortgage, and ...
Sorting Out The Ks And Qs And Reading Between The Lines
I spent most of yesterday in the basement conference room of the 410 Club. The 410 Club is located in the renown Wrigley Building, a beautiful piece o...
Structuring Real Estate Investment Properties
A real estate investors have created an LLC to separate their personal and business properties. They are having trouble financing due to an increase debt to income ratio. If a large part of your income is from your real estate business or you have enough buildings to affect your income, many residential lenders will have difficulty giving you financing. You should try to find a commercial lender or a residential lender that has extensive experience with people that own many rental properties to help you out in your future deals.
Software That Can Help
If you're having trouble keeping track of your medical expenses, try Quicken's Medical Expense Manager software. It retails for $60, but you can buy i...