On April 2, 2009, the IRS announced they will reduce the penalty for not filing a Report of Foreign Bank and Financial Account, known as a FBAR Form. The current penalty is up to fifty percent (50%) of the highest annual balance of each account for each of the last 3 years. The 50% penalty … Read more
Six years ago, I bought a house over my head. The reasons are muddled and uninteresting, but like you I needed the economy to just keep moving along. No changes. No surprises. Just let me live the American Dream. My payment was ,900. That’s part of the ‘muddled”, but its for another article. Anyway, I … Read more
A logbook loan is a loan secured on the logbook of your car. If you own a vehicle, it is now possible to get a loan with your car or guarantee of safety, where the logbook as a guarantee. How do they work? The logbook acts as a proof of ownership of the … Read more
This article discusses the consequences of late tax returns to individuals; what you should do and what you should consider to get back on track. The article is written for the layperson — it is not intended to be technical in nature, nor discuss all the aspects of tax planning one should consider. It addresses … Read more