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Mortgage News
It's That (Taxing) Time of Year
Put Your Mortgage to Work for You |
 It's that time of year again. Not college basketball season, but income tax filing season. If you own a home, make sure you take the time to proactively organize your documents to maximize your tax deductions. Proper planning and organization will help minimize your taxable income.
There are many tax benefits to home ownership. The three main deductable items are:
- Mortgage interest
- Property taxes
- Mortgage insurance
Here are some important documents that you'll need handy for preparing your tax returns...and maximizing those deductions! First, make sure to have the Form 1098 that was sent to you by your mortgage company. This will list the mortgage interest and mortgage insurance you paid during the past year. Remember if you refinanced during the past year you will then see multiple Form 1098s, one for each loan.
If you bought or refinanced your home in the past year, you'll also need your Settlement Statement (HUD-1) from your closing. This is important because IRS rules only make a mortgage company send a 1098 for $600 or greater. So if you have interest or deductible fees on your HUD-1 totaling less than $600 you will not be sent a 1098 and will need your HUD-1 as your proof. Finally, don't forget to reference your property tax bills from the past year so you can include the correct amount on your tax returns.
It is estimated that the IRS tax code is currently over 67,000 pages in length – and if you're worried about making a mistake, you're not alone! In fact, in a recent interview on C-SPAN the IRS commissioner Douglas Shulman himself admitted he uses a professional tax preparer. He said, "I use a preparer. I have used one for years. I find it convenient and I find the tax code complex." Yes, that is coming directly from the commissioner of the IRS!
If preparing your return by yourself feels daunting, be sure to contact a professional tax preparer for any help you need. And if I can answer any questions for you, please don't hesitate to call or email me. |
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 If you know anyone who is looking to buy, sell or refinance a home, please forward their name and telephone number to us. We will happily provide the same high level of service that we have provided to you. The greatest compliment you could possibly give us is the referral of your friends and family. |
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Finance News
New Database Will Alert Shoppers to Safety Hazards
Protect yourself with this helpful tool.
By Anne Kates Smith, Kiplinger.com |
 Starting in March, shoppers will be able to use a searchable public database to find safety complaints about products they're thinking of buying. And product owners will be able to share any safety-related problems quickly. Visit the Consumer Product Safety Commission's new site. Manufacturers will see complaints before they're published and can dispute them or respond online. The turnaround from initial complaint to inclusion in the database will be a maximum of 15 business days.
Previously, the CPSC needed manufacturers' input before communicating consumer complaints to the public, and that was often a lengthy back-and-forth process that essentially limited online safety information to recall notices. The CPSC doesn't guarantee the accuracy of the reports in the new database. But the site will have safeguards to ensure integrity – including a fairly detailed complaint form, meant to weed out disgruntled gripers from those with real safety concerns.
Reprinted with permission. All Contents ©2011 The Kiplinger Washington Editors. www.kiplinger.com. |
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Creative Cuisine
Turkey Pesto Wraps |
 Taking your lunch to work doesn’t have to be boring, especially with these Turkey Pesto Wraps.
Ingredients:
- Lavosh (middle eastern flat bread)
or large flour tortillas
- Mesquite-smoked deli turkey meat
- Sliced gouda or Swiss cheese
- Thinly-sliced Roma tomato
- Shredded Romaine lettuce
- Real mayonnaise
- Good-quality store-bought pesto sauce
Directions:
In a small bowl, combine equal portions of mayo and pesto, or adjust the proportions to your liking. Lightly spread mixture on to one side of lavosh or tortilla. Working from one end of the bread to the other, create individual rows of turkey, cheese, tomato, and lettuce, in that order. Moving in the same direction, roll flat bread until it somewhat resembles a burrito. Slice in half crosswise and individually wrap each piece.
No stranger to professional kitchens, Kirk Leins currently devotes most of his time to cooking instruction, food writing, and producing television. You can visit Kirk's website at www.NoTimeToCook.com. |
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Street Smarts
Hidden Danger |
 According to the U.S. Consumer Product Safety Commission, an average of 170 people die every year in the U.S. from carbon monoxide (CO) produced by generators, fireplaces, water heaters, furnaces and similar products.
Since people can't see or smell CO, many people who are exposed to it are completely unaware. Mild symptoms from exposure to CO range from flu-like symptoms (minus the fever) to more severe exposure, which can lead to confusion, loss of muscular coordination, unconsciousness, and even death!
So, what should you do? The International Association of Fire Chiefs recommends installing a carbon monoxide detector on each level of your home – even the basement. Detectors should be located within 10 feet of bedroom doors, and if you have an attached garage, there should be one near it or in the room over it. Finally, detectors should be replaced every five to six years.
Here are a few important tips to help you avoid exposure to CO:
- Never ever operate the abovementioned fuel burning appliances without proper instructions.
- Never ignore a carbon monoxide alarm that has gone off.
- Never leave a car running in the garage.
- Have your chimneys and flues checked regularly by an inspector.
- Always perform a consumer test per the carbon monoxide detector's manual to ensure that the device is working.
For more information, visit the US Consumer Product Safety Commission Website. |
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Home News
Catch Some Zzz's With the ABC's of Bedtime |
 We all know how important it is to get a good night's sleep. And yet millions of people have trouble sleeping at night. By following the ABC's of bedtime, you can increase the chances of waking up feeling rested and refreshed.
Make sure your bedroom is: (A) quiet, (B) dark, and (C) comfortable. After all, if you're constantly awakened by noise or light, you can't expect to fall into a deep, restorative sleep. That goes for comfort, too. Make sure your bedroom isn't too hot or too cold, and that your mattress and bedding are ideal for your preferences. You also don't want to go to bed hungry or full, so monitor your snacking habits before you head off to bed. Finally, remember that your dog or cat may be the cause of your discomfort. If you sleep with your pets, try putting them on the floor for a few nights to see if your sleep improves.
One last tip: Make your bedroom a stress-free zone by reading or listening to soft music just before your bedtime, any kind that helps you relax, calm down, and stop thinking about those stressful events that filled your day. You'll be well on your way to a good night's sleep in no time! |
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Facts and Figures
Are You Ready for Some Football...Facts? |
 In honor of Super Bowl XLV we turned to the Census Bureau for some fun facts about the demographics of the host city (Arlington) and the cities (Green Bay and Pittsburgh) represented in this year's big game at Cowboys Stadium.
- Green Bay ranks 268th on the list of the nation's most populous cities.
- On average, it takes Green Bay residents 18 minutes to get to work.
- Median home value of owner-occupied homes in Pittsburgh is $92,500.
- 33% of Pittsburgh residents ages 25 and older have a bachelor's degree or higher, according to data from 2009.
- According to data from 2009, the estimated population of Pittsburg is 311,647.
- The median household income for Arlington, Texas is $50,938.
- The median home value of owner-occupied homes in Arlington is $132,200.
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Did you know that according to the National Institute of Health, the second leading cause of work days missed is back pain?
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It's never too early to start dreaming of spring break. Here are some tips to help you start saving. |
Tip 1: Purchase a package deal which includes airfare, hotel, and rental car. |
Tip 2: Consider driving instead of flying. Even though gas isn't cheap, neither are airfare, checked baggage fees, or a car rental. |
Tip 3:Check out Vacation Rental by Owner (www.vrbo.com) for great prices on over 150,000 worldwide rental properties. |
Tip 4: Save for a staycation and do day trips to fun places in your area. |
Tip 5: If you use a credit card that earns you Travel Points or Travel Awards, see if you can use them to pay for all or part of your trip. |
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| "If you're passionate about what it is you do, then you're going to be looking for everything you can to get better at it." |
| – Jack Canfield |
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Where was the greatest (189 inches) snowfall in a single snowstorm in North America?
- Albany, NY
- Mount Shasta, CA
- Silver Lake, CO
- Boston, MA
- Buffalo, NY
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For answer, scroll down to the bottom. |
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Stick-to-it-iveness: Inspirations to Get You Where You Want to Go
by Addie Johnson |
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It lives in the sensible somewhere between tenacity and stubbornness. It is a philosophy, a quality, and an approach to life's challenges. It is the difference between intention and accomplishment. Stick-to-it-iveness is the place where who we are meets who we always wanted to be.
Johnson includes quotes, aphorisms, and true-life stories to illustrate the virtues and joys of personal perseverance.
Stick-to-it-iveness is an inspiring gift for anyone starting a new venture – college students, new parents, or old friends facing life changes or challenges. |
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For more information or to order a copy, click here. |
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Thank You |
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As always, we wish to thank our clients who have been kind enough to refer business to us. We appreciate the opportunity to provide excellent service to your family, friends, and co–workers.
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