A lender will, on occasion, forgive some portion of a borrower’s debt. The general tax rule that applies to any debt forgiveness is that the amount forgiven is treated as taxable income to the borrower. Some exceptions to this rule are available, but, until recently, the borrower was required to pay tax on the debt forgiven. A new law enacted in December 2007 provides relief to troubled…
Questions to Ask Before You Hire a Home Inspector | St. Louis
After you’ve made an offer to buy a home, and it has been accepted, most potential home buyers choose to include an inspection as a contingency in the purchase agreement. It’s the wise thing to do. The last thing you want is to buy a home without realizing that there’s a significant foundation or roof problem.
If this is your first time buying a home, you’re probably not familiar…
5 Easy Ways to Transform Your TV into a Home Theater Experience
According to a report released by the Bureau of Labor Statistics last year, working Americans spend more than half of their daily leisure time (2.7 hours a day) watching television.
Today, television is much more than a source for current events and weather forecasts. With the recent popularity of reality television, many people find themselves watching TV to escape from their own reality…
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