Most of us rise in the mornings having either a cup of coffee or Tea.
When making Coffee I have experienced that grinding the coffee fresh before you brew, will give you the experience of a more fresh taste of coffee. It appears that oxidation begins immediately and flavors will degrade noticeably in just a few hours. When shopping for a grinder, there are burr grinders and blade grinders. Blade grinders are the most common and the least expensive.
When using a blade grinder it's important to grind in small bursts of a few seconds at a time to prevent heat from building up and then causing burning the grounds.
Fitting the grid size to the brewing is about how much of the coffee surface is exposed to the water which desirable flavors come out first in the brewing, while the bitterness and other undesirables come out later, especially if the coffee is brewed too long. If you use course grinds they seem to be suited to a French Press style coffee maker because they let the water and the coffee steep together. When you are using medium or fine these work more efficiently with drip coffee makers. Fine and super fine are best when making espresso, reason being it that the water is being pushed through the grinds fairly quickly.
I have heard people talk about using cinnamon in the coffee for added flavor
Monday, February 22, 2010
Friday, February 12, 2010
Keep you paper work : Don't trust the Bank
When doing a Short Sale and Dealing with the IRS, you could be avoiding a Double Whammy
It is bad enough to loose one's home and have a negative credit on your FICO Scoring, but one must be aware that the lender or the lenders assignee, may continue to pursue the seller for the remainder of the debt. The other could be the IRS, may come knocking at your door, seeking tax on the amount of debt that was unpaid.
Paper work that goes along with the seller approval of a short sale may include a promissory note for the difference between the debt owed and the short sale proceeds. The other option is that the lender might ask for the seller to sign an acknowledment that the lender reserves the right to pursue the borrower for this amount.
The possibility residing is that even if the debt is forgiven, the borrower may be taxed on the amount he did not have to pay back. See IRS publication 4681.
These are some of the reasons why it is so important for the seller to keep all paperwork.
Suppose that there was no specific release of the debt and the paperwork had no reference to any thing at all. Then if you recieve a 1099-c saying the debt was forgiven and then taxable, then you will have support for the claim that the 1099-c is incorrect.
Suppose that there was no specific release of the debt and the paperwork contained no reference to it. Then the seller recieves a 1099-c saying debt was canceled. Keep that information just in case the bank or assignee, comes calling a year later trying to collect the debt.
"I am not an attorney or a CPA. Information that I express is only information that I seek out by searching into the Internal Revenue services and areas that provide to the public questions and answers on the short sale repurcussions. Please search for you self in the address bar of your computer
It is bad enough to loose one's home and have a negative credit on your FICO Scoring, but one must be aware that the lender or the lenders assignee, may continue to pursue the seller for the remainder of the debt. The other could be the IRS, may come knocking at your door, seeking tax on the amount of debt that was unpaid.
Paper work that goes along with the seller approval of a short sale may include a promissory note for the difference between the debt owed and the short sale proceeds. The other option is that the lender might ask for the seller to sign an acknowledment that the lender reserves the right to pursue the borrower for this amount.
The possibility residing is that even if the debt is forgiven, the borrower may be taxed on the amount he did not have to pay back. See IRS publication 4681.
These are some of the reasons why it is so important for the seller to keep all paperwork.
Suppose that there was no specific release of the debt and the paperwork had no reference to any thing at all. Then if you recieve a 1099-c saying the debt was forgiven and then taxable, then you will have support for the claim that the 1099-c is incorrect.
Suppose that there was no specific release of the debt and the paperwork contained no reference to it. Then the seller recieves a 1099-c saying debt was canceled. Keep that information just in case the bank or assignee, comes calling a year later trying to collect the debt.
"I am not an attorney or a CPA. Information that I express is only information that I seek out by searching into the Internal Revenue services and areas that provide to the public questions and answers on the short sale repurcussions. Please search for you self in the address bar of your computer
Tuesday, February 9, 2010
Studies Show that too Much Sugar can fuel Tumor Growth
We hear about the unhealthy diets our children intake daily. Schools are now removing soda pop from the vending machines, and replacing them with juices and water. Fortunately the schools are not there to be the parents. Some of us have grown up during the years where mom made food from scratch and the fast food and processed food were not an option. Kids were healthier, had more exercise, disease as we see it to day was not a prevalent as it is. There are Children by the time they are 6 years of age that are obese. Everyone I talk to state that their Health provider says they are over weight. By the way, look at the people who work at these facilities, they them selves have the same problem. Eating and running, not taking time out to eat healthy.
In a new Study of 60,000 people in Singapore, a research team at the University of Minnesota followed thousand of men and women participating in this study for 14 years. At the end of the study, published in a journal of Cancer Epidemiology, the team found that those who drank two or more soft drinks in a week had 87 % higher risk of developing pancreatic cancer.
Oddly enough, those who drank fruit juice, and some of them have just as much sugar as soda, did not have the same cancer risk.
Some of the study suggests that possibly the soda drinkers, also had other poor habits, such as smoking, eating a lot of red meat, a poor life style and alcohol consumption
Consider what the pancreas job is, and that is to make insulin, which helps the body digest sugar, which is made in the pancreas. Researchers believe that soda pop interferes with the body's insulin levels which can contribute to cancer cells growing in the pancreas. The onset of diabetes later in life can also be a early symptom.
For more on this study go to AOL News
In a new Study of 60,000 people in Singapore, a research team at the University of Minnesota followed thousand of men and women participating in this study for 14 years. At the end of the study, published in a journal of Cancer Epidemiology, the team found that those who drank two or more soft drinks in a week had 87 % higher risk of developing pancreatic cancer.
Oddly enough, those who drank fruit juice, and some of them have just as much sugar as soda, did not have the same cancer risk.
Some of the study suggests that possibly the soda drinkers, also had other poor habits, such as smoking, eating a lot of red meat, a poor life style and alcohol consumption
Consider what the pancreas job is, and that is to make insulin, which helps the body digest sugar, which is made in the pancreas. Researchers believe that soda pop interferes with the body's insulin levels which can contribute to cancer cells growing in the pancreas. The onset of diabetes later in life can also be a early symptom.
For more on this study go to AOL News
Capital Gains Question
Primary Residence and Rental property
A Two Family Home can be treated as one or two seperate properties
If you live in your primary residence three out of 5 years before you decide to sale the property, it can qualify you for a exclusion up to 500,000 dollars on your sale or 250,000 dollars if you are a single party. If the rental use was longer then 3 years, then any gain related to the sale of the property will be taxable and won't qualify for the sale exclusion.
Depreciation on the rental portion after May 6, 1997 is subject to what they call recapture. This means the tax rate will be at 25%. The balance of the gain is at 15% rate.
Even if the rental use during the 5 years does not exceed three years any gain related to rental use after 2008 won't qualify for the sale exclusion
This information was search out and information found was part of questions and answers by Barbara Wiltman, at Jk Lasser Institute
A Two Family Home can be treated as one or two seperate properties
If you live in your primary residence three out of 5 years before you decide to sale the property, it can qualify you for a exclusion up to 500,000 dollars on your sale or 250,000 dollars if you are a single party. If the rental use was longer then 3 years, then any gain related to the sale of the property will be taxable and won't qualify for the sale exclusion.
Depreciation on the rental portion after May 6, 1997 is subject to what they call recapture. This means the tax rate will be at 25%. The balance of the gain is at 15% rate.
Even if the rental use during the 5 years does not exceed three years any gain related to rental use after 2008 won't qualify for the sale exclusion
This information was search out and information found was part of questions and answers by Barbara Wiltman, at Jk Lasser Institute
Monday, February 8, 2010
What Changes have Been made on the Tax Credit signed in Law in 2009
Our president has signed a Tax credit for the first time Home buyer called the Home ownership and Business Assistance Act . It has now been extended though April of 2010. This credit will give back to the borrower 8,000 dollars on their primary residence. It had been previous noted that a single person making 75,000 dollars and more would not qualify for this credit, but now it has increased to 125,000 dollars for a single party and 145,000 dollars for a modified adjusted gross income for married couples. It is required that the home be used for a least three consecutive years. To take advantage of this special Tax credit a buyer must be in a contract by May 1, 2010
What are the Advantages in Buying a Residence or Renting a Residence
Unless you are in a constant move and can not stay in one place two out of 5 years then it may not be the solution to buy. As a buyer you will gain equity in your home by making your mortgage payment. You can decorate your home without needing to get permission from your lender or your owner. This way decorate to your taste. You will get a homeowner tax break. You will be building credit. You can improve your home with the equity you acquire. You will have independence and pride as a homeowner. You can transfer your property though your will.
Now the Disadvantages:
Your cost can be variable, the equity might change due to market conditions. If you need to move, most of us will need to sell our home prior to making this change. It means owning, requires upkeep and maintenance. Then again it may mean that you will need more cash to get the loan then to rent a home
Are there Advantages to Renting?
Your costs are fixed for the term of the lease
You are not the one loosing equity, but then again you are not the one gaining it either
You can move at the end of the lease. Then also you have no maintenance worries
How About The Renting Disadvantages
Never acquiring equity. Not being able to Decorate your way, no tax breaks, your lease is controlled by your landlord. You may have a landlord who objects to repairs. You will probably not be allowed to sublease the property. You could face eviction if you and the landlord disagree
Now the Disadvantages:
Your cost can be variable, the equity might change due to market conditions. If you need to move, most of us will need to sell our home prior to making this change. It means owning, requires upkeep and maintenance. Then again it may mean that you will need more cash to get the loan then to rent a home
Are there Advantages to Renting?
Your costs are fixed for the term of the lease
You are not the one loosing equity, but then again you are not the one gaining it either
You can move at the end of the lease. Then also you have no maintenance worries
How About The Renting Disadvantages
Never acquiring equity. Not being able to Decorate your way, no tax breaks, your lease is controlled by your landlord. You may have a landlord who objects to repairs. You will probably not be allowed to sublease the property. You could face eviction if you and the landlord disagree
Wednesday, February 3, 2010
State of California Franchise Tax Board
Foreclosure and Short Sales
I am quoting from an article from the California Franchise Tax Board about information to help the public to know about the laws that may effect their decision making when considering to let the Bank have your home or to Sell your Home in the Short Sale Process.
Quoting from this article it states questions that all of us want to know.
Will I owe tax on a deficiency?
If there is a foreclosure or a short sale a taxpayer will receive either a federal Form 1099 A, Acquisition or Abandonment of Secured Property, or a tax for 1099 C, A cancellation of Debt that provides the amount of debt cancelled, information to compute gain or loss, and whether the tax payer is personally liable for the debt. The most common situations on a foreclosure or short sale does not result in cancellation of a debt, income involve a non- recourse loan. On a non-recourse loan means the lender's remedy in the case of default is to repossess the property.
Forgiveness of a non-recourse loan does not result in Cancellation of Debt income, it may result in other tax consequences, like a reportable gain from the disposition. Even if the debt discharged is non-recourse, a taxpayer may have a gain to the extent of the balance of the mortgage forgiven if it exceeds their adjusted basis of the property.
If the gain, if any, from the foreclosure or short sale may or may not be taxable, depending on whether the IRC section 121 applies and the amount of the gain. Irs section 121 only applies to principle residences, and limits the amount of gain that can be excluded from the income
To Find out more about questions such as this, please go to your web browser and search, IRS web page titled Home Foreclosures and Cancellations
I am quoting from an article from the California Franchise Tax Board about information to help the public to know about the laws that may effect their decision making when considering to let the Bank have your home or to Sell your Home in the Short Sale Process.
Quoting from this article it states questions that all of us want to know.
Will I owe tax on a deficiency?
If there is a foreclosure or a short sale a taxpayer will receive either a federal Form 1099 A, Acquisition or Abandonment of Secured Property, or a tax for 1099 C, A cancellation of Debt that provides the amount of debt cancelled, information to compute gain or loss, and whether the tax payer is personally liable for the debt. The most common situations on a foreclosure or short sale does not result in cancellation of a debt, income involve a non- recourse loan. On a non-recourse loan means the lender's remedy in the case of default is to repossess the property.
Forgiveness of a non-recourse loan does not result in Cancellation of Debt income, it may result in other tax consequences, like a reportable gain from the disposition. Even if the debt discharged is non-recourse, a taxpayer may have a gain to the extent of the balance of the mortgage forgiven if it exceeds their adjusted basis of the property.
If the gain, if any, from the foreclosure or short sale may or may not be taxable, depending on whether the IRC section 121 applies and the amount of the gain. Irs section 121 only applies to principle residences, and limits the amount of gain that can be excluded from the income
To Find out more about questions such as this, please go to your web browser and search, IRS web page titled Home Foreclosures and Cancellations
Short Sales Vs A Forclosure
Let's look at a Short Sale, it seems that this process would be less damaging on the effect of a sellers credit report. Credit scores also known as FICO Scoring will loose 80 to 100 points. On A foreclosure it could take 3 years or more before a lender will offer a buyer a sensible interest rate, whereas for a buyer who went through the short sale, the waiting time could be around 18 months and at a good interest rate.
To Salvage your credit should be a primary concern, when you are considering the choice of letting the Bank foreclose or trying to do the short sale. This will be an advantage in your interest payments and for most of us consumers your buying power in the near and distant future.
There are site to visit and read that will be able to inform you on your decision. One of them is SaveMeFromForclosure.com.
Some of my information was found on EzineArticles.com
To Salvage your credit should be a primary concern, when you are considering the choice of letting the Bank foreclose or trying to do the short sale. This will be an advantage in your interest payments and for most of us consumers your buying power in the near and distant future.
There are site to visit and read that will be able to inform you on your decision. One of them is SaveMeFromForclosure.com.
Some of my information was found on EzineArticles.com
Monday, February 1, 2010
I get asked all the time "What is a Short Sale"
To explain to you about a short sale, is to one where the bank allows the seller to sell their home for less then what they owe on the property. Until last year, the mention of a short sale seemed UN familiar to most. Banks preferred to foreclose on the home. But within the past few years, the short sale process has become all to familiar and popular. Banks have been notorious by delaying the process for months before they will give you an answer. But if you can hold in, it seems that this could be a better solution then to do a deed in lieu of foreclosure
As a buyer can we talk to the Lender, when we are making an offer on a short sale
As a Realtor for 22 years, I am amazed that the Short Sale process has superseded the Foreclosure market. Years ago when you lost your job, became ill could not make your payment. What did the Bank do? How about Foreclose on you This past May of 2009 and then in October of that same year, the Treasury Department along with the Department of Housing and Urban Development announced programs designed to expedite the short sale process. The Treasury department even announced that lenders or those servicing those mortgages may receive an incentive compensation of up to 1,000 for a successful completion of a short sale. Also a borrower could also receive 1,500 to assist with a relocation expense. The Treasury promised to publish streamlined and standardized documentation, including a short sale agreement, which would speed up the process.
Although as of 2010, no such documents have been published, and banks are ignoring the pleas from the Treasury to complete the process within 90 days. I can speak from experience that Banks are not working for the consumer. Seven to Ten months is not an unusual procedure for these Banks . This causing the sellers to loose buyers that walk, thus starting the short sale process all over again. When you are ready for an approval, the Bank calls back the loan and it start all over again. I am not sure if the right hand is not knowing what the left hand is doing or this is a game. Homes are piling up and not being release to consumers. Their portfolio is in the hundred thousand and still climbing.
So to the buyer/ consumer, the answer is no you cannot speak to the bank about your offer. I as an agent spend 5 hours a day trying to speak to the Bank and I have an approval from the seller. What you get is a person who knows absolutely nothing, but the notes in front of them. When you ask to escalate the loan, their comment is wait 10 working days from the first escalation. You are at the Mercy of the party on the phone, who probably get minimum wage.
There are privacy laws restricting such communication
Although as of 2010, no such documents have been published, and banks are ignoring the pleas from the Treasury to complete the process within 90 days. I can speak from experience that Banks are not working for the consumer. Seven to Ten months is not an unusual procedure for these Banks . This causing the sellers to loose buyers that walk, thus starting the short sale process all over again. When you are ready for an approval, the Bank calls back the loan and it start all over again. I am not sure if the right hand is not knowing what the left hand is doing or this is a game. Homes are piling up and not being release to consumers. Their portfolio is in the hundred thousand and still climbing.
So to the buyer/ consumer, the answer is no you cannot speak to the bank about your offer. I as an agent spend 5 hours a day trying to speak to the Bank and I have an approval from the seller. What you get is a person who knows absolutely nothing, but the notes in front of them. When you ask to escalate the loan, their comment is wait 10 working days from the first escalation. You are at the Mercy of the party on the phone, who probably get minimum wage.
There are privacy laws restricting such communication
The New Grand View Plaza in Oak Hills California
The Victor Valley has had it's moments of growth and now recession. But with all of this said, we still see the future of growth within the Vast area. With the many people seeking affordable housing, it directs them to communities such as Oak Hills. Oak Hills has many modest as well as
luxurious home. Custom built on 2 or more acres. Some in Gated communities, others spread out to accommodate horses with view's of the mountains and city. With all this growth and future expansion, the city is enlarging Ranchero Road to run through Hesperia and Oak Hills. With a talk to receive a railroad under pass and undergo an expansion from two lanes to four lanes.
When all of this project is completed this will assist commuters another viable way for traveling the east to Hwy 15, (Cajon Pass). With this happening a Construction company developed a New Plaza. This new Plaza will be called Grand View Plaza. Through analyzing the amount of traffic traveling from the east to the Hwy, this new corridor has been projected to have double the number of cars driving by the Grand View Plaza. This increased traffic traveling by the shopping center will be a bonus to the retailers. All this is to start breaking ground in 2010.
This new plaza will be located on the northeast corner of Ranchero and Escondido Roads. Near this shopping plaza, which will be 1/2 of a mile difference a new Oak Hills High School was built in 2009.
The committed Retailers so far is Mobil Gas and convience store, Alberto's Mexican food resturant
luxurious home. Custom built on 2 or more acres. Some in Gated communities, others spread out to accommodate horses with view's of the mountains and city. With all this growth and future expansion, the city is enlarging Ranchero Road to run through Hesperia and Oak Hills. With a talk to receive a railroad under pass and undergo an expansion from two lanes to four lanes.
When all of this project is completed this will assist commuters another viable way for traveling the east to Hwy 15, (Cajon Pass). With this happening a Construction company developed a New Plaza. This new Plaza will be called Grand View Plaza. Through analyzing the amount of traffic traveling from the east to the Hwy, this new corridor has been projected to have double the number of cars driving by the Grand View Plaza. This increased traffic traveling by the shopping center will be a bonus to the retailers. All this is to start breaking ground in 2010.
This new plaza will be located on the northeast corner of Ranchero and Escondido Roads. Near this shopping plaza, which will be 1/2 of a mile difference a new Oak Hills High School was built in 2009.
The committed Retailers so far is Mobil Gas and convience store, Alberto's Mexican food resturant
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