FURNACES and HOT WATER
Having your furnace checked or serviced now, will give you peace of mind knowing that it works properly when the temperatures begin to drop. Also consider having your hot water heater checked if you have not done so recently.
BOX ELDER BUGS
To minimize their presence, an easy recipe is 1 tablespoon of Dawn detergent, 1/2 teaspoon of garlic powder and 1/2 teaspoon of Tabasco sauce in a quart of water. Spray this solution by windows and doors to keep the bugs away. This can also be sprayed right on plants to keep rabbits and other wildlife away without hurting either the plants or the ground.
DRYER VENT CLEANING
Lint build up is combustible, it can start a fire. The vent should be cleaned out from the wall connection behind the dryer all the way to the exterior end of the vent, at least every 6 months to a year.
FIREPLACES
If you have a wood burning fireplace, consider having your chimney cleaned before you light a fire this year especially if you have not cleaned your fireplace in the last year or two. Soot and creosote can collect in the flue and cause a fire. If you have a gas burning fireplace, check the deflector on the exterior wall to ensure that it is secure. If the deflector is missing, it may create enough heat to melt the siding.
Tuesday, September 18, 2012
Thursday, September 13, 2012
Top 10 Things You Need to Know About the Health Care Reform
Learn the most important takeaways when it comes to the 3.8% tax that's part of the health care reform:
1.When you add up all of your income from every possible source, and that total is less than $200,000 ($250,000 on a joint tax return), you will not be subject to this tax.
2.The 3.8% tax will never be collected as a transfer tax on real estate of any type, so you’ll never pay this tax at the time that you purchase a home or other investment property.
3.You’ll never pay this tax at settlement when you sell your home or investment property. Any capital gain you realize at settlement is just one component of that year’s gross income.
4.If you sell your principal residence, you will still receive the full benefit of the $250,000 (single tax return)/$500,000 (married filing joint tax return) exclusion on the sale of that home. If your capital gain is greater than these amounts, then you will include any gain above these amounts as income on your Form 1040 tax return. Even then, if your total income (including this taxable portion of gain on your residence) is less than the $200,000/$250,000 amounts, you will not pay this tax. If your total income is more than these amounts, a formula will protect some portion of your investment.
5.The tax applies to other types of investment income, not just real estate. If your income is more than the $200,000/$250,000 amount, then the tax formula will be applied to capital gains, interest income, dividend income and net rents (i.e., rents after expenses).
6.The tax goes into effect in 2013. If you have investment income in 2013, you won’t pay the 3.8% tax until you file your 2013 Form 1040 tax return in 2014. The 3.8% tax for any later year will be paid in the following calendar year when the tax returns are filed.
7.In any particular year, if you have no income from capital gains, rents, interest or dividends, you’ll never pay this tax, even if you have millions of dollars of other types of income.
8.The formula that determines the amount of 3.8% tax due will always protect $200,000 ($250,000 on a joint return) of your income from any burden of the 3.8% tax. For example, if you are single and have a total of $201,000 income, the 3.8% tax would never be imposed on more than $1,000.
9.It’s true that investment income from rents on an investment property could be subject to the 3.8% tax. But: The only rental income that would be included in your gross income and therefore possibly subject to the tax is net rental income: gross rents minus expenses like depreciation, interest, property tax, maintenance and utilities.
10.The tax was enacted along with the health care legislation in 2010. It was added to the package just hours before the final vote and without review. NAR strongly opposed the tax at the time, and remains hopeful that it will not go into effect. The tax will no doubt be debated during the upcoming tax reform debates in 2013.
This information can be found at and downloaded as a pdf. http://www.realtor.org/topics/health-care-reform/top-10-things-you-need-to-know-about-the-38-tax
1.When you add up all of your income from every possible source, and that total is less than $200,000 ($250,000 on a joint tax return), you will not be subject to this tax.
2.The 3.8% tax will never be collected as a transfer tax on real estate of any type, so you’ll never pay this tax at the time that you purchase a home or other investment property.
3.You’ll never pay this tax at settlement when you sell your home or investment property. Any capital gain you realize at settlement is just one component of that year’s gross income.
4.If you sell your principal residence, you will still receive the full benefit of the $250,000 (single tax return)/$500,000 (married filing joint tax return) exclusion on the sale of that home. If your capital gain is greater than these amounts, then you will include any gain above these amounts as income on your Form 1040 tax return. Even then, if your total income (including this taxable portion of gain on your residence) is less than the $200,000/$250,000 amounts, you will not pay this tax. If your total income is more than these amounts, a formula will protect some portion of your investment.
5.The tax applies to other types of investment income, not just real estate. If your income is more than the $200,000/$250,000 amount, then the tax formula will be applied to capital gains, interest income, dividend income and net rents (i.e., rents after expenses).
6.The tax goes into effect in 2013. If you have investment income in 2013, you won’t pay the 3.8% tax until you file your 2013 Form 1040 tax return in 2014. The 3.8% tax for any later year will be paid in the following calendar year when the tax returns are filed.
7.In any particular year, if you have no income from capital gains, rents, interest or dividends, you’ll never pay this tax, even if you have millions of dollars of other types of income.
8.The formula that determines the amount of 3.8% tax due will always protect $200,000 ($250,000 on a joint return) of your income from any burden of the 3.8% tax. For example, if you are single and have a total of $201,000 income, the 3.8% tax would never be imposed on more than $1,000.
9.It’s true that investment income from rents on an investment property could be subject to the 3.8% tax. But: The only rental income that would be included in your gross income and therefore possibly subject to the tax is net rental income: gross rents minus expenses like depreciation, interest, property tax, maintenance and utilities.
10.The tax was enacted along with the health care legislation in 2010. It was added to the package just hours before the final vote and without review. NAR strongly opposed the tax at the time, and remains hopeful that it will not go into effect. The tax will no doubt be debated during the upcoming tax reform debates in 2013.
This information can be found at and downloaded as a pdf. http://www.realtor.org/topics/health-care-reform/top-10-things-you-need-to-know-about-the-38-tax
Amazing Untold Story of the Boatlift on 9/11
The 9/11 boat lift was the largest in history dwarfing the evacuation at Dunkirk. At Dunkirk 339,000 people were evacuated in 9 days. On 9/11 nearly 500,000 were evacuated in approximately 9 hours!
Click on the link to see the video and read more about it!
http://blogs.reuters.com/katharine-herrup/2011/09/09/boatlifters-the-unknown-story-of-911/
Click on the link to see the video and read more about it!
http://blogs.reuters.com/katharine-herrup/2011/09/09/boatlifters-the-unknown-story-of-911/
Tuesday, September 4, 2012
Energy Efficient Windows
Installing energy-efficient windows can mean increased comfort as well as savings!
A typical home may lose up to 30% of its heat or cooling through windows
Factors that affect a window's energy efficiency are single or multiple-paned, gas filled, Low-Emittance (Low-E) coated and the material of the window frame. All these details contribute to a window's performance. An excellent resource is www.efficientwindows.org, which provides detailed information on these specifications and how to select windows appropriate for various climates.
A typical home may lose up to 30% of its heat or cooling through windows
Factors that affect a window's energy efficiency are single or multiple-paned, gas filled, Low-Emittance (Low-E) coated and the material of the window frame. All these details contribute to a window's performance. An excellent resource is www.efficientwindows.org, which provides detailed information on these specifications and how to select windows appropriate for various climates.
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