Emilio Encarnacion's (cariduro777) Blog

What is depreciation and how does it work? When you buy an asset for business use, such as a building or a piece of equipment, you cannot generally deduct the full cost of the asset the year you buy it. That’s generally because the asset will be useful for more than one year. Instead, you deduct ...

How much disability insurance do I need? It depends on how much you make and how dependent you are on that income. You need enough disability insurance to get you by until you can go back to work or start receiving other income. Unless you have substantial savings or other income sources, buy eno...

How do I drop private mortgage insurance? In some states, the loans have to be at least two years old, and the borrower cannot have made any late payments in the last year in order to drop private mortgage insurance (PMI). In addition, the loan-to-value ratio must be less than 80%. In other state...

What are some ideas for cash-needy homeowners? Homeowners who are tired of sinking all their money into mortgage payments and home repairs can turn to the book "Squeeze Your Home for Cash: 101 Great Money-Making Ideas for Homeowners" to turn the situation around. Author Ruth Rejnis offers everyth...

  This issue continues to have proponents on both sides. Putting down as little as possible allows buyers to take full advantage of the tax benefits of homeownership, many experts say. Mortgage interest and property taxes are fully deductible from state and federal income taxes. Buyers using a sm...

If you have a so-called passive loss, you may not be able to deduct it from your other income, such as your wages and interest income. Unless you materially participate in an activity, the IRS considers the activity a passive activity, and it does not let you deduct losses from the activity that...

Buying directly at a legal foreclosure sale is strictly caveat emptor -- "Let the buyer beware." Some people get great deals at foreclosures, but they must be willing to accept the risks involved. Here are the some of the disadvantages: There is no financing; you must have cash. The title must b...