How to Buy Tax Lien Foreclosure Properties
Posted on March 4, 2010
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Ever hear that death and taxes are about the only two guarantees in life? In the US tax liens can be applied to your property for failure to pay property taxes or income taxes. Tax liens are placed on properties in order to prevent sale or refinancing of property until the lien has been paid off. An important factor to keep in mind when looking up Tax Lien Foreclosure properties is that some states are tax deed states and some states are tax lien states. Did you know that?
It’s important to know the differences between the two laws. In a tax deed state, an outside investor can purchase a property outright just by paying off the tax lien on the property. In a tax lien state and outside investor purchases the tax lien and is then entitled to the penalties and interest on the lien and if the owner fails to pay the lien then the investor can initiate a foreclosure sale to recoup his investment. This can be huge.
Remember, when searching for Tax Lien Foreclosure properties, a potential investor should learn what type of state law they are dealing with first. Keep in mind that although a tax deed state hold the promise of buying real estate for cheap, its highly unlikely that you will find more than vacant lots on most tax deed sales. It’s important that investors in tax deed states view all properties before making a bid. This is a good practice.
As far as tax lien states go, you should be aware that although a lot of programs advertise returns of up to 100% of the original investment, that is an unrealistic expectations. Returns on this type of investment can be as high as 65% but you shouldn’t count on much more than 30% or less on Tax Lien Foreclosure properties.
Research is key to this type of investment. Fortunately the web has made research into state and county records a lot easier. Even though there are plenty of services out there that advertise Tax Lien Foreclosure properties as a means to instant wealth, the reality of investing is that it can be lucrative given a fair amount of time and research and hard work.
Now once you have determined the type of investing you would like to do, you can look online to find the service that is appropriate to your particular needs. Investing in tax lien certificates, is the least risky method and has the most steady returns on your investment. So, keep your eyes and ears open for these opportunities.
Learn more about Tax Lien Foreclosure Properties. Stop by No Risk Investor where you can find out all about Government Tax Sale Properties and how you can profit by them.
Don’t forget to claim the Child Tax Credit
Posted on March 4, 2010
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This year the child tax credit has been increased. The reason for the increase is mainly due to the increased cost to raise children and to stimulate the economy. This credit is separate from your personal child exemption that you normally take and is a great way to get some money back.
The credit is limited to 1,000.00 per qualifying child you have residing in the U.S and must be under 17 before December 31 and must be living with you more that 6 months during the year.
If you don’t owe any tax, you may still qualify for a refund if you meet other criteria. For 2009, the income threshold for the child tax credit has been temporarily lowered to $3,000 (the income threshold for 2008 was $8,500). This means that, so as long as you have one or more qualifying children and earned income of more than $3,000, you may be entitled to a refund.
The next test is based on your AGI (adjusted gross income). If your AGI is greater than the following conditions then your child tax credit will be reduced.
* Married filing jointly up to $110,000.00 * Single, qualifying widow(er), or head of household up to $75,000.00 * Married filing separately up to $55,000.00
If you AGI exceed the above conditions you may still get the credit but you must reduce the credit by 50.00 dollars for every 1,000.00 dollars over the above limits. For example if your income is 140,000.00 you would reduce you credit by 3 times 50.00 or 150.00.
If you do not have enough tax to reduce then no child tax credit can be taken. If you see a lower amount than the full $1,000.00 credit then you should check to see if you qualify for the additional child tax credit.
The additional tax credit is for certain individuals that get less than the full child tax credit. The additional child tax credit may give you a refund even if you don’t owe any taxes.
Concerned about your income tax like Michael is take a look at the other articles available at Income Tax Site
Property Tax Sales You Need To Know About
Posted on March 3, 2010
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The economy is really suffering. You hear that refrain everywhere these days. And while this is true to a great extent, it is also an excellent time for the smart investor to take a second look at the current real estate market. Property Tax Sales are a great way to get started in the real estate market or for those with experience to expand their portfolio of properties and investments.
Property tax sales are foreclosure properties that are often sold at public auctions for a fraction of their actual value. There are such deals out there that it is possible to purchase land for under $1000 and homes for less than $5000. These are quality properties that you can turn around in a short time for a tremendous return on your investment.
Most likely, Property Tax Sales in general come in two types: tax lien sales and tax deed sales. While both tax lien sales and tax deed sales represent excellent investment opportunities with little or no risk they do differ in the essentials. Therefore it is very important that you understand these differences and all the rules that regulate these types of sales. Do your homework.
Remember, while it is possible to go it alone and start investing without any outside assistance it is far easier to do it with the help of experts who offer years of experience to be your guide. There are sites that can provide you with the instruction and education you need to really get some properties that can help you get that essential cash flow you need far quicker than on your own. By becoming a member you will also be able to access a far wider pool of properties throughout the country by utilizing data bases that are there for your perusal.
You will be able to input information on exactly the types of Property Tax Sales for which you are looking, such as price, location or any other variable you need in order to start investing. There are also often professional investors available to answer any questions that you might have. There is often even other like-minded investors such as yourself with whom you can compare and contrast strategies.
There is no reason for you to be on the fence if you are at all interested in upgrading your life and making a promising future for you and your family. Investing in these Property Tax Sales you will be able to see the rewards of being in control of your life and the payoffs far sooner that you would imagine. Research everything and make good choices.
If you want to find out more about Property Tax Sales, then visit No Risk Investor and see how to choose from among the best Property Tax Auctions.
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