hud statement for taxes
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hud statement for taxes

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Music hi I'm Dave dang : this is my two-minute fix when I started in the business people ask me all the time who was your mentor there weren't any manners 1975 there was nobody that I could all certainly I couldn't look at three o'clock in the morning and see an hour half hour webinar of how to couldn't become a billionaire in three days so there was nobody like that around so I wanted to do real estate I didn't like it and I'll tell you why I didn't like it Allah quiddity it was just very difficult when we got properties and went to sell them those buyers are picky ism anyway I was used to something altogether different I was in the stock market and I could sell stuff for you guys are in the stock market in those days it took no more than about 15 to 45 minutes to sell a stock and get an answer back today it takes 15 nanoseconds to do it so one of the things I also did not like was going to closing and having to review the HUD statement it was like a mystery to me you know fire sellers I'm the buyer and the seller and what are all these fees and say hey those are really really important when I started to look at them and analyze them people leave it or not I'm a chemical engineer by trade I realized there's power and understanding those numbers first of all being able to save money when you get to the closing table figuring out who did what who was charged for what just because you're the buyer doesn't mean you have to pay for certain things so understanding the HUD is critically critically important so the two-minute tip here is just simply understanding a HUD now in the dodd-frank act that came up in 2010 recently they used what they call a CD or our closing disclosure now the idea was to help eliminate mortgage fraud and have full disclosure to buyers that use conventional financing we as investors or dealing 99% of the time with - buyers and the other people 1% or so are doing hard money they're not going to live in a home so we don't deal with the complexities of the mortgage laws as such so when we first saw that dodd-frank CD we said to ourselves whoa this thing is really complicated well after you do a 100 of them or so they're not so bad but what you have to do is sit down look at them and go through them most closing agents do not use CDs with closing disclosures for cash transactions so you may not even see them but the HUD statements are what you're going to see now here's a caveat to everything I'm telling you about learning how to look at the HUD statement I do transactional fundings and I do a

FAQ

Why don't schools teach children about taxes and bills and things that they will definitely need to know as adults to get by in life?
Departments of education and school districts always have to make decisions about what to include in their curriculum.  There are a lot of life skills that people need that aren't taught in school.  The question is should those skills be taught in schools?I teach high school, so I'll talk about that.  The typical high school curriculum is supposed to give students a broad-based education that prepares them to be citizens in a democracy and to be able to think critically.  For a democracy to work, we need educated, discerning citizens with the ability to make good decisions based on evidence and objective thought.  In theory, people who are well informed about history, culture, science, mathematics, etc., and are capable of critical, unbiased thinking, will have the tools to participate in a democracy and make good decisions for themselves and for society at large.  In addition to that, they should be learning how to be learners, how to do effective, basic research, and collaborate with other people.  If that happens, figuring out how to do procedural tasks in real life should not provide much of a challenge.  We can't possibly teach every necessary life skill people need, but we can help students become better at knowing how to acquire the skills they need.  Should we teach them how to change a tire when they can easily consult a book or search the internet to find step by step instructions for that?  Should we teach them how to balance a check book or teach them how to think mathematically and make sense of problems so that the simple task of balancing a check book (which requires simple arithmetic and the ability to enter numbers and words in columns and rows in obvious ways) is easy for them to figure out.  If we teach them to be good at critical thinking and have some problem solving skills they will be able to apply those overarching skills to all sorts of every day tasks that shouldn't be difficult for someone with decent cognitive ability  to figure out.  It's analogous to asking why a culinary school didn't teach its students the steps and ingredients to a specific recipe.  The school taught them about more general food preparation and food science skills so that they can figure out how to make a lot of specific recipes without much trouble.  They're also able to create their own recipes.So, do we want citizens with very specific skill sets that they need to get through day to day life or do we want citizens with critical thinking, problem solving, and other overarching cognitive skills that will allow them to easily acquire ANY simple, procedural skill they may come to need at any point in their lives?
How do I fill taxes online?
you can file taxes online by using different online platforms. by using this online platform you can easily submit the income tax returns, optimize your taxes easily.Tachotax provides the most secure, easy and fast way of tax filing.
How do I fill out the income tax for online job payment? Are there any special forms to fill it?
I am answering to your question with the UNDERSTANDING that you are liableas per Income Tax Act 1961 of Republic of IndiaIf you have online source of Income as per agreement as an employer -employee, It will be treated SALARY income and you will file ITR 1 for FY 2017–18If you are rendering professional services outside India with an agreement as professional, in that case you need to prepare Financial Statements ie. Profit and loss Account and Balance sheet for FY 2017–18 , finalize your income and pay taxes accordingly, You will file ITR -3 for FY 2017–1831st Dec.2018 is last due date with minimum penalty, grab that opportunity and file income tax return as earliest
Is it illegal for my boss to fill out the tax papers to tell them how much to take out?
It would be illegal for an employer to fill out a W-4 form for you.However, if you have not signed a W-4 form and given it to your employer, the employer is still required to withhold taxes. If I remember correctly they must do as if you'd filled out the form as single with 0 exemptions.If you want to change what your employer is withholding, you should be able to go to Internal Revenue Service, print out a W-4 form, fill it out and give it to your employer.If after that your withholding doesn't change in a reasonable time (I think they're allowed a couple of weeks), then talk to the IRS.
Why is filing for taxes so difficult for the average person to fill out?
It isn’t. Most people in the USA have only one job, no investments, and no itemized deductions. They don’t own a business or own rental property. Their tax form before the Trump administration tax reform was a one pages 1040 EZ. Only about 30% of taxpayers had a situation involving more than 15 minutes of tax preparation. Under the Trump tax reform, more paperwork is required, I went, as a retiree, from 2 pages to 6 pages of forms. It still took less than 15 minutes to file. There is free software online (I use Credit Karma) to make out and file the forms. My state (NH) doesn’t have state income tax so I didn’t have to complete a second set of forms.
The company I work for is taking taxes out of my paycheck but has not asked me to complete any paperwork or fill out any forms since day one. How are they paying taxes without my SSN?
WHOA! You may have a BIG problem. When you started, are you certain you did not fill in a W-4 form? Are you certain that your employer doesn’t have your SS#? If that’s the case, I would be alarmed. Do you have paycheck stubs showing how they calculated your withholding? ( BTW you are entitled to those under the law, and if you are not receiving them, I would demand them….)If your employer is just giving you random checks with no calculation of your wages and withholdings, you have a rogue employer. They probably aren’t payin in what they purport to withhold from you.
For taxes, does one have to fill out a federal IRS form and a state IRS form?
No, taxes are handled separately between state and federal governments in the United States.The IRS (Internal Revenue Service) is a federal, not  state agency.You will be required to fill out the the necessary tax documentation for your federal income annually and submit them to the IRS by April 15th of that year. You can receive extensions for this, but you have to apply for those extensions.As far as state taxes go, 41 states require you to fill out an income tax return annually. They can either mail you those forms or they be downloaded from online. They are also available for free at various locations around the state.Nine states have no tax on personal income, so there is no need to fill out a state tax return unless you are a business owner.Reference:www.irs.gov
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