As worrisome as it sounds, a low home value could just mean re-evaluating your property’s worth. Get a handful of tips from our most recent blog discussing when to sell your property with low value. We prepared a video representation of the blog. Visit our Dailymotion channel for more informative videos.
You can directly visit our site for more information about dealing with low home value in Los Angeles.
3 Things You Shouldn’t Do When You Owe Taxes
Owing taxes to the IRS, whether its just a fraction of your monthly income or an upsetting amount, settling what you owe should be done right away. Its bad enough not to get a tax refund. Getting in trouble with IRS is the worst way to start the year.
However, owing federal tax shouldn’t be a cause of panic. A lot of Americans somehow, are facing a similar concern. The good thing is there are ways to positively handle this debt.
Avoid These 3 Major Mistakes
The one thing you should avoid doing when faced with a tax debt is taking actions that will make the situation more difficult for you. Based on the suggestions of experts on federal tax and tax payment plans, here is a list of things to avoid:
Paying Debt with Debt
A bank loan would seem to be a probable solution. Why not? You not only get the needed money to settle your tax, a payment plan for the loan can be arranged as well. But will the bank grant the loan?
Maybe you could try paying using a credit card. Right, that could be it. It makes sense, paying a debt with another debt, plus the staggering interest rates. Looking at it as a long term solution, you may end up paying so much more. It may be best to step aside for a moment and assess these options.
Take time to think about it. Compare the interest rates, fees and repayment terms so you’ll know exactly how much is being borrowed to pay your tax and how much will it cost your to pay all the accumulated debt.
Failing to File a Return and Extension
Even if you can’t afford to settle your debt in one go, filing for a tax return is still required. IRS will charge 5% failure-to-file penalty for every month you owe, and up to 25% maximum penalty. And don’t forget the interest that will be added until it’s fully paid off.
By filling an extension, you will be given an additional six months and if you can’t file it before the April deadline, there won’t be a failure-to-file penalty. But the existing debt will have a penalty capped at 25%.
No Payment Plan
Given that you can’t pay what you owe in full, IRS offers payment plans. Find out if you are qualified to apply. They do not want to run after tax payers who still has payables to settle. So before one of the IRS people decides to take extra time to focus on your debt, proactively work it out with them.
For a debt less than $50,000 (income taxes, penalties, and interest), as of 2015, an online payment plan is available. If you meet the requirements, take advantage of the online payment, otherwise, you’ll need to mail in your Form 9465 to the local IRS office and wait for a reply to find out what installment plan you can apply for.
Every eligible tax payer has 72 months to settle the full amount, however, interests and penalties will be added for as long as you owe them money. `
What Can You Do?
Despite being the ‘bad guy’ in this difficult time, IRS is a reasonable organization that offers assistance whenever possible. Enrolling for the online installment plan could offer great help for you to settle your debt. It may take time, but as long as you can send in partial payments, it isn’t such a bad deal.
You need to talk to the right people to get to the right direction. Check out this article from Taxpayer Advocate Services.
On the other hand, even if you qualify for a payment plan but you’re still unable settle the full amount, there is an alternative option awaiting for you to discover.
Here at Sell Any House, we provide practical solutions to homeowners struggling financially. May it be about a bad mortgage, unpaid taxes, facing a divorce or structural issues, we can help. It’s our ultimate goal to free homeowners from stressful housing issues.
In Los Angeles, sell my house fast is a common scenario, where families have the immediate need to let go of their property. We aren’t just a home buying company, we are a company that cares and listens. Talk to us today!
The post 3 Things You Shouldn’t Do When You Owe Taxes appeared first on We Buy Houses In Los Angeles, CA | SellAnyHouse.com.
A property with low home value isn’t as devastating as it sounds. The blog we recently put up will serve as guide when you’re faced with this kind of housing issue. This gallery is a summation of the blog content.
Deal with low home value while learning more about SellAnyHouse Los Angeles.
How To Sell My House With Foundation and Structural Issues
Did you happen to have a feeling that your house just shook but when you watched the news or searched the net, no earthquake was recorded? Did you notice a few cracks on your basement wall? How about a window that suddenly won’t open, seemingly stuck in its frame?
This could be a warning sign that there are existing structural issues within or under your house. A solid, strong, and well built foundation is crucial to a long lasting and safe home. Foundation repair is often the solution to fix most structural issues.
Before you conclude that your house badly needs professional repair, find out what are the clear signs you should watch out for.
The Warning Signs
By being vigilant about the signs, and in case you spot any of them, you can pinpoint when exactly you should call a professional service.
Interior Mismatch and Weakness
- Concrete walls are sturdy and doesn’t chip off or break off easily. If the outer layer becomes flaky, try poking it with a screwdriver. You shouldn’t be able to damage the wall unless it has deteriorated and the screwdriver manages to bore a hole right through.
- Watch out for cracks too. Whether its a hairline crack across the upper wall in the living room or a noticeably large crack you could almost see what’s in between the cement pigments, this is an alarming sign that the foundation might be crumbling.
- Vertical crack lines are less serious compared to horizontal cracks which could translate to a serious shifting of the foundation or water damage accumulated overtime.
- When door frames split apart or a door won’t latch properly or doesn’t close at all, it is another sign of a structural issue.
- Sinking floors are obvious signs. A simple test using a tennis ball can help you determine which area has sunk. If the ball rolls, you have an uneven floor.
- It the exterior walls have formed an obvious crack and seem to be separated from the house. Either slightly leaning outward or inward, this is a serious structural damage that needs immediate attention.
- A chip or a big chunk of brick has fallen on the ground. The area from where the piece fell off looks weak and is about to crumble.
- You can also see crack lines originating from the ground level going upwards.
- A portion of the house looked shrunken, looking like it is being swallowed by the ground. This is called subsidence, an occurrence when the ground beneath the foundation is collapsing due to water leaks from drain pipes.
- Trees causes damage too. They take away the moisture from the soil, and overtime the soil compresses and collapses.
When one or more of the signs can be seen in your house, call a structural engineer right away for a professional opinion. Engineers can measure how serious the damage is and the extent of structural repair needed to fix the problem. Refer to this page for more alarming signs.
Consultation alone could cost you several hundred dollars. A full set of drawings for an engineered solution ranges around a thousand dollar. Fixing structural issues and foundation damage can go over the amount you can spare.
The Workaround | A Parting Solution
If the foundation repair expenses could threaten to suck the life out of your hard earned savings, would you consider selling your house? If too much work needs to be done, much like building a new house, isn’t it better to sell the property?
Sell Any House has seen how devastating serious structural issues can be for families who have grown attached to their homes. Often, moving out seems to be a financially sound decision. It saves homeowners money, time, and effort.
Our team of expert real estate investors have formulated practical solutions to help homeowners resolve their housing problems. In Los Angeles, we buy houses As-Is, no immediate renovation is required. Not just houses with structural issues, we buy houses from owners who are dealing with low home values or bad tenants.
We do not limit our services. We provide help in any way we can!
The post How To Sell My House With Foundation and Structural Issues appeared first on We Buy Houses In Los Angeles, CA | SellAnyHouse.com.
We recently blogged about bad tenants and options that local Los Angeles owners have when dealing with these annoying tenants. Its now on our blog roll and we think you’d enjoy reading about it. Here is a presentation on that blog post.
If you want to learn more about how we buy houses in LA from owners with bad tenants, visit SellAnyHouse LA website now!
Was this post of interest to you? Perhaps you should visit our website, where we’ve published a press release that is getting lots of coverage! SellAnyHouse LA is a real estate consultant group that offers cash for homes, we buy houses fast!
Learn more about SellAnyHouse LA.
A property with low home value isn’t as devastating as it sounds. The blog we recently put up will serve as guide when you’re faced with this kind of housing issue. Check out this short video in our YouTube channel or watch our fun playlist.
Learn how to deal with low home value here: