Monthly Archives: December 2013

2013 Federal Tax Update for Individuals

Great info to read as we close out 2013 and get ready for Tax Time!

Real Estate Finance Insights


2013 Federal Tax Update

From personal deductions to tax credits and educational expenses, many of the tax changes affecting individuals were related to the signing of the American Taxpayer Relief Act (ATRA), which modified, made permanent, or extended a number of tax provisions that expired in 2010 and 2011. With that in mind, here’s what individuals and families need to know about tax changes that took effect in 2013.

Personal Exemptions 
The personal and dependent exemption for tax year 2013 is $3,900.

Standard Deductions 
In 2013 the standard deduction for married couples filing a joint return is $12,200. For singles and married individuals filing separately, it’s $6,100, and for heads of household the deduction is $8,950.

The additional standard deduction for blind people and senior citizens increases in 2013 to $1,200 for married individuals and $1,500 for singles and heads of household.

Income Tax Rates 
Beginning in tax year 2013, a new tax rate…

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The Benefits of Credit Repair

The Benefits of Credit Repair

Why should you Consider Credit Repair? Discover the Basic Reasons!

Do you look at your credit report and think about nothing but credit repair? If yes, then perhaps it’s high time to get your credit repair process started. Anyone with poor credit scores will definitely know what a low credit score can cost you. Wonder how severe the consequences are?

Well, high interest rates can seriously damage your finances, period. Imagine the payments you would have to make if your interest rate increases from 5% to 15%. All in all, your poor credit score can make you pay thousands of dollars additionally per year. This is the primary reason why it is critical to look at your credit report and repair your credit score. After all, it will not only lower your interest rate, but will also help you get loans.

Credit Repair – Is it Really Helpful?

When it comes to credit scores, a single mistake can cause you serious trouble. A recent research suggests that almost 79 percent of all Americans have some type of inaccuracy, miscalculations, and negative accounts in their credit reports. A majority of these errors can hurt their credit scores badly. In these situations, credit repair is the ultimate option they can get to bring their finances back on track. The process of credit repairing is used to identify mistakes, correct the relevant information, remove negative reporting and monitor the creditors to ensure that your credit report is as accurate as possible and corrected accordingly.

Better Insurance Policies

The policies most insurance companies offer are based on the clients’ credit reports. For instance, you will not get a reasonably priced insurance policy if your report suggests that you are late with paying other accounts. Thus, credit repair can clean up your credit rating and help you get substantial savings over the duration of your policy.

Better Job Options

Nowadays, many employers check an applicant’s credit history as an essential step of the employment screening process. Wonder why? Well, credit reports usually disclose what resumes may never tell. Employers check credit reports to determine if an applicant has unpaid child or spouse support, has a verdict against him or her, or pays bills promptly. In instances like these, you can get a fresh start by opting for credit repair.

Better Loan or Mortgage Facilities

A low credit score can have a negative impact on your ability to get different loans. You may not get the desired loan amount or may have to make greater interest payments on the lifetime of your loans. If lenders find a poor credit score on your report, they can lower your credit limit, thus making the loan even more expensive for you. If dealerships turn you down for loans or offer very high interest rates, you have to consider going for credit repair. This will increase your chances to get your desired vehicle or own your dream home.

Since credit scores and credit reports can affect you and your loved ones in a number of ways, it is important to keep your credit score in superb condition. Credit repair doesn’t only benefit individuals with a low credit score, but can do wonders for people with average credit by getting negative items off of the reports, disputing late payment information and correcting any inaccuracies on your report.

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