Category Archives: Business and Tax

What to Bring with You to a Property Tax Attorney

When you schedule an appointment with a property tax attorney, you need to go to his office prepared. If you do not take along all the necessary documents and information, your first visit may be a waste of time and money, necessitating a return trip with added fees. When you call the property tax attorney, you need to give your full name, property address, and how to contact you if needed. Being prepared is very important when dealing with any tax information. Continue reading

Using a Property Tax Attorney

If you are concerned about any of the statements on your property tax bill–especially the property tax assessment value–you might want to consult with a property tax attorney. Although you can do the process yourself, you may feel overwhelmed by the legalities and find it necessary to have help. You can look in your local phone book under the attorney’s ad and look for a lawyer that specializes in property taxes. You may need to talk to a few attorneys before you find the one that can help with your case. Continue reading

What Really Affects Your Property Taxes

The first thing that affects your property taxes is the spending habits of your school district, other taxing districts, county and city. If the school district has big plans for renovations, new computers, raises in salary or anything else pertaining to the school district, you may see an increase in property taxes to support their spending. Keep in mind that there is a point when the state draws a line on how much can be charged to your property taxes. Many school districts have to find other means to accomplish everything on their agenda because they are only allowed so much money from taxes. Continue reading

What Is Included In Personal Property Tax

Property tax and personal property tax is different because the property tax deals with the building and land. Personal property tax deals with vehicles, boats, planes motorcycles and other motor vehicles. Any type of artwork is subject to personal property tax. If you have a business, any of the inventories is subject to personal property tax as well as bonds or any stocks. The only thing not subject to tax is household goods or personal belongings. The state, rather than the community, governments more commonly do personal property taxes. This, however, may be different from state to state. Continue reading

Understanding Your Property Tax Bill

Taxes tend to be one of those “thorn in the side” issues and property taxes are no exception.  We’re going to focus the next few blog entries around things that can help relieve some of that pain. We’ll start by making sure that we are all on the same sheet of music. The first thing to understand about your property tax bill is the terminology. Many people look at the tax bill and see a bunch of numbers that have no meaning to them. In reality, they do have a special meaning to the property owner. If you do not understand what the sections on your property tax bill mean, you might not know if this bill is correct or not. Here are some terms that you need to understand when looking at the tax bill. Continue reading

When Doing Your Own Taxes Makes Sense…And When It Doesn’t

Tax deadline is April 15, so if you haven’t begun gathering your annual tax records it’s time to do so.  Every year, however, people’s lives change – they buy and sell houses and move, they take new jobs, have kids, buy and sell stock. Those and dozens more reasons might give you cause to hire a tax preparer.

It’s worth going over the primary reasons why some people should get help with their taxes and others can continue going it alone.

Should you do it by yourself? If you meet the following circumstances, you can probably do your taxes by yourself:

  • You work for only one employer who gives you a W-2 tax form each year.
  • You rent your residence and don’t own a home or vacation property.
  • You don’t have kids or other dependents.
  • You don’t have any complex investments such as a partnership, a trust or extensive stock holdings.
  • You really like numbers, are willing to investigate annual changes to the tax code and double-check your work.
  • You’re comfortable doing computations by calculator or by hand, or by using tax software on your computer or online. Continue reading

How Your Personality Affects Your Financial Decision-Making

All investors are not created equal. That’s why financial planners start their first client meetings with a discussion of money attitudes, goals and risk tolerance – the driver at the root of all investment decisions. Some planners do this by general conversation, others by detailed surveys they ask their clients to fill out.

The survey route can be a more valuable tool because it forces clients to face their money issues, perhaps for the first time. Despite the difficulty in facing up to such key issues, individuals get a better idea of where their money strengths and weaknesses really lie.  Often, the real difficulties lie in how money is spent. Continue reading

What’s Your Money Personality?

When it comes to money, most, if not all people, have a personality or type. And the key to managing your money better is to know yourself and your “money” type, according to FPA member, Deborah L. Price, founder and CEO of the Money Coaching Institute.

According to Price, it’s important to take into account your cash flow and your net worth when building a financial plan. Your income and asset cash flow are vehicles to help you reach your goals, be it retirement or something else. However, it’s just as important to learn why you want to reach those goals or destinations. You want to understand and resolve any of the ‘potholes’ — patterns of beliefs or behaviors that you have — that may prevent you from arriving at your destination, Price said in a recent issue of FPA’s Journal of Financial Planning. Continue reading

Home Business Insurance: Are you covered?

by Mark “Gunny” Thomas

The two main types of insurance that you need to be concerned about as a home based business owner are liability and property damage. Liability protects you in the event someone gets injured on your premises or injured using your products. Property damage covers damage to a wide array of property items such as furniture, fixtures, machinery, equipment, supplies or any of the tools you use in your business.

There are also 3 basic levels of coverage available for home business owners: Continue reading