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Tip of the Day Don't Use Your Credit Card for Cash Advances

Don't Use Your Credit Card for Cash Advances - We all have times where we get into a jam and need a little bit of additional money, but don't use...

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Help Paying Property Tax

Property tax is the tax incurred for the value of the property being taxed. Normally, property taxes are carried at the municipal or county level. A tax assessor is the one who is responsible for determining the value of a given property. There are several parameters that will be considered in determining the value of a property, these are: land or site value and building value.

There are several help options to choose from regarding payment of property taxes. The first way of aided payment is through abatement. If the taxpayer is financially unstable and unable to pay the total amount of the property tax that was incurred, a portion of the tax can be forgiven as a consequence of being financially uneven. The town, city or municipality will be the one responsible for deciding with regards to this matter; this is normally determined by the local Board of Abatement. There are several requirement needed for applying for a property tax abatement. A written request must be submitted to the local Board of Abatement together with a financial status report that will help in proving the claims on financial instability. The board may also request for a private meeting with the applicant to further attest the needs for abatement. Another way of aided payment is through deferment. The deferment program allows a low interest loan to be available for homeowners who can't pay their respective property taxes. Some states and municipalities are offering this kind of program. Deferment is possible as long as you are the owner of the house. If the house will be sold, a certain portion of the equity will be allotted for the payment of the loan. Another way of aided payment for property taxes is finding a lender. The lender will be the one to set up a tax account for the property tax incurred. The tax account works on an installment basis. The taxpayer can pay small percentages of the property tax yearly. For delinquent property taxes, the lender must be willing to help the taxpayer pay the property taxes and it must be discussed if the small loan system will still be applicable.

During this tough economic time, the government is not closing their doors on taxpayers that are on the state of financial challenge. These flexible options are designed to guide and help the taxpayers in fulfilling their social responsibility despite the fact of economic crises.

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Interlocking Directorates – An interlocking directorate is a company board member that also sits on the board on at least one other company, if not more than one.  This is a perfectly legal position, although it can be illegal if one of the other businesses is a competitor.  This scenario...

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