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No matter which political party you support this election as it stands now everyone who works will be hit with a huge tax increase come January 1, 2013. The rich will pay more taxes but so will everyone pay more taxes. Those who are married and have families will see their tax dollars increase because the "marriage penalty" will return on January 1, 2013. Those who have dependent children under the age of 17 will see their taxes increase because the child tax credit will be chopped in half – from $1,000 per child to $500.
Capital gains tax will rise to 23.8 percent from 15 percent so your $100 in dividends just cost you another $8.80 in federal taxes. If you happen to be a parent or guardian of a special needs child, consider yourself capped. Your unlimited FSAs are now limited to $2,500. If part of that means high medical expenses, you've been allowed to deduct expenses that exceed 7.5 percent of your adjusted gross income (AGI). In 2013 your new threshold will be 10 percent of AGI.
Self Directed IRAs
Investing IRA funds in real estate used to be quite complicated, time-consuming, and expensive. Deals had to be administered by IRA custodians every step of the way, complicating the process, and fees had to be paid to the custodian every time the IRA made a move. Although, much of this is still true with many traditionally IRAs, investors can avoid a lot of unnecessary and costly steps by using a self-directed IRA.
A self-directed IRA is simply an IRA in which the IRA owner is able to make investment decisions without having to get the custodian's approval. The favorite instrument for opening a self-directed IRA is the Limited Liability Company, which allows the IRA owner to have absolute checkbook control over his or her IRA. This means every time you have to pay an expense associated with an IRA asset, you can write the check yourself and avoid custodian fees.
Hard Money is a term you will often hear amongst real estate investors because it is another way to generate cash for real estate deals. Hard money lenders are sometimes the only people willing or able to give you the money you need to get your deals done. Hard money is great for beginning investors who may not have money or for those who have bad credit and cannot qualify. Investors also use hard money when they need to purchase quickly. But what exactly is Hard Money and how do you find a good hard money lender?
What is Hard Money?
Hard money is no more difficult to obtain than 'soft money', but its terms are very strict because most hard money comes from private individuals with a great deal of money on hand. This is why hard money is also referred to as "private money". The money used for investment purposes comes from people, just like you and I, not a typical lending institution. So their first priority is to protect their investment capital. This is why the terms have to be so strict.
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