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Top Five Reasons to Invest in Real Estate Today
When it comes to real estate, the topic of the day is the downturn in the market, the number of people losing their homes, and how much this is going to hurt the economy. In the seventeen years I have been in the real estate business, I have witnessed every fluctuation the market has to offer. While it is true that many property owners are enduring trying times, rarely does the same happen to knowledgeable real estate investors.
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Where Are The Mortgage Rates Heading In 2009?
Of late, there's been a lot of talk with reference to mortgage interest rates. Barely a month ago everybody was discussing on the subject of how awfully low they were. Indeed, they were at historical lows and it helped in, to stimulate a huge recovery in the mortgage refinance market. On the other hand, July is witnessing resurgence in mortgage rates. Can it actually make a difference if interest rates rise by a few percent? To a large extent will it matter? Can it have an effect on the recovery of the housing market? These are a few basic questions that need to be answered.
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Schedule C Tax Tips: Are You Letting These 4 Myths Stop You From Taking The Home Office Deduction?
Are you afraid to take advantage of the home office deduction? Perhaps you are the victim of one or more of these common tax myths. Unfortunately, many self-employed folks shy away from taking the home office deductions for at least one of the following four reasons. 1. Fear of an IRS audit. There's been a rumor going around for years that the home office deduction increases the likelihood of an audit. I would love to know who started that rumor so I could give him a piece of my mind. For now, I'll just be thankful that you are reading this article so I can tell you: don't believe it! There is no basis for it. Treat the home office deduction like any other legitimate business expense: if you are entitled to take, by all means, take it. 2. Frustration over the record keeping requirements. Obviously, there are some numbers that must be compiled to take the home office deduction. For homeowners, they include the following: mortgage interest, real estate taxes, homeowner's insurance, utilities (gas, electricity, water, trash removal, etc.) and repairs. The first two are usually reported to you on your lender's annual Form 1098 statement. The utilities are easy to calculate by simply adding together your twelve monthly bills for each service provider; if you don't have those bills, the amounts are just a phone call away to your friendly utility company. And home repairs are easily found by looking through your checkbook register and/or monthly credit card statements. For renters, there's usually fewer numbers to crunch: the rent amount is the main figure, and I'm sure you know that without even looking it up. You also need any renter's insurance or utilities you paid. 3.The belief that it's not worth it. When you consider that there is likely hundreds or even thousands of dollars in tax savings at stake, don't you think this is time well spent? If it takes you an hour to put this information together, and you save $500, where else can you make that much money in that amount of time? Sure, I know how much some people despise paperwork and number crunching. Maybe you prefer not to touch a calculator with a 10-foot pole. If that's the case, hire an accountant to do your return and the extra tax savings from this deduction alone will likely more than cover the tax preparation fee. 4. A misunderstanding of the tax benefits. Have you ever heard a person say that he's not taking the home office deduction because he's already deducting mortgage interest and property taxes on Schedule A? Well, the next time you see your friend, dazzle him with this tax strategy wisdom: If you take the home office deduction, you not only reduce your income tax, but you are also reducing your self-employment (SE) tax. This is because the home office deduction reduces your Schedule C profit. For every $1,000 of home office expense, you are losing about $150 in SE tax savings.
Investing

Chinese Yaun: The Powder Keg Currency

China has been and still is the fastest growing economy in the world and it doesn't seem to be stopping any time soon. Quoted from Wikipedia, in 2006, the GDP "$2.68 trillion USD. Its per capita GDP in 2005 was approximately US $1709 (US $7204 with PPP), still low by world standards, but rising rapidly. Thanks to exported goods, it has enjoyed a tremendous growth without pause. To compare the enormity of the trades, it has just surpassed Canada as US's biggest importer of good. Find a graph related to this article right on http://www.forexplane.com. China's exports are expanding and at a menacing rate, especially to high consumption societies such as the United States and European Union. While largely exporting, it has little imports other than oil. Virtually all of the imports in these countries come from China, particularly in textiles and toys. With these export revenues, how does the Yuan value in the market? For more than a decade, the dollar was pegged at a rate of 8.28 Chinese Yuan for every dollar. While this policy to play an economic advantage, especially keeping low so the exports sold are cheaper than other exporting countries that compete with China, particularly its Asian neighbors. This policy has been the biggest factor in making China the biggest exporter of goods. But under the pressure of the US, it has raised the value of yuan by 2% to a basket of currencies. The basket is comprised of the U.S. dollar, euro, Japanese yen and South Korean won and small portions from the British pound, Thai baht and Russian ruble. Expert estimates that the value of the yuan increase 5% each year compared to US dollars on a quantitative valuation. In total, it is at least 40% lower than its current value. This estimates come calculating the GDP, import/export ratio, public deficits, interest rate, and the future outlook of the economy. It's still not a freely floating currency. If the yuan is to freely float in the market, the US dollar, and not to mentioned many European countries, would devalue tremendously along with inflation in many countries with large imports from China. This is due to the fact that all the goods will now be 40% (an estimated value taken from above) more expensive on all Chinese imported products. In addition, these countries will see lower purchasing power needed to import necessary goods such as oil. For now, the fixed currency rate is posing a problem to many countries who come to depend on these low cost imports to provide continued consumption that drives domestic economies. Although, there is a more relaxing policy from China to increase its value steadily, there is no sign that it's ready to float it freely yet. The government doesn't believe it's structurally can handle the abrupt change, such as joblessness. Whether the yuan will float freely will require major adjustments from many governments to prepare for the shock. It will certainly be interesting to watch a country such as China sneezes and see how many others catch a cold. The US would no longer be an economic powerhouse that affect the world economy. More details: http://news.forexplane.com/Articles/Chineseyuan/tabid/136/Default.aspx Any opinions, news, research, analyses, prices, or other information contained on these articles are provided as general market information and does not constitute investment advice. Forexplane.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.


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