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Monday, March 8, 2010

There's No Place Like (a Clean, Healthy) Home - 10 Simple Tips You Can Implement Today!

There's No Place Like (a Clean, Healthy) Home
10 Simple Tips You Can Implement Today!


There's No Place Like (a Clean, Healthy) Home10 Simple Tips You Can Implement Today!

After the cold winds of winter, it's nice to finally open the windows and freshen up the house with the scents of spring. And while opening those windows can feel good, one of the best feelings of spring is getting that clean feeling back. After all, some experts estimate that 40 pounds of dirt can pile up in your home over the course of just one year!

To help you start fresh this spring, this article offers you 10 simple ways to make your house clean and healthy.


Words to Live (and Clean) By
Tip #1: Clean regularly. It sounds simple, but it can be hard to implement and stick to when life gets in the way. There are a few things you can do to make it easier to stick to a regular cleaning schedule. The first tip is to actually design a schedule. Make a plan to tackle some of the biggest projects, like vacuuming or cleaning the bathroom–one each day of the week if necessary. You can also make sure the work is divided between all the members of the house; that way, the work doesn't fall onto one person's shoulders and children learn a sense of responsibility.


Tip #2: Eliminate clutter. One of the quickest ways to keep a clean house is to make sure it never gets too dirty or cluttered. To avoid it, make a point to quickly pick up high-traffic areas (like the kitchen, dining room, and family room) each night before heading to bed. You'd be amazed what a few minutes of straightening can accomplish. In addition, you can also keep a box ready for items that should be thrown away or donated. For more information on eliminating clutter and getting organized, check out our past article on strategies to get organized.


Make the Living Room More Livable


Tip #3: Dust down. Dusting can be a real pain…and can create a big mess with all that dust flying around. To help minimize the mess (and isn't that the goal in the first place?), remember to dust from top to bottom–starting with cobwebs near the ceiling and high shelves.


Tip #4: Buy plants. Plants can be pretty amazing. They help clean the air and constantly breathe oxygen into your home. In addition, they add a cozy, welcoming feeling to just about any room.


Kitchens and Bathrooms


Tip #5: Go chemical free. These days, more and more people are going chemical free for their cleaning products…and for good reason. As we reported last May in our article on toxic-free cleaning, the average household cleaner may include chemicals, fragrances, and dyes that can be irritating to your eyes, skin, and respiratory tract. If that wasn't bad enough, most conventional cleaning products are produced using a petroleum-based formula. That's right, petroleum. For more information on safe, natural cleaning products and for cleaning tips, visit www.simplyneutral.com.


Tip #6: Freshen towels. Wet towels can be a breading place for mold and mildew. Unfortunately, it's all too common to use the same towel again and again and again. To eliminate the potential problem, remember to change towels after just a few uses. You can also try to hang towels to dry near a heating element immediately after using them.


Windows to the World


Tip #7: Open often. We all like to seal up the house during the cold winter or humid summer days. But when the weather permits, don't forget to open up those windows and get the air moving again to clear out the stale air inside your home.


Tip #8: Clean screens. Most everyone hates doing windows–all those streaks can be a pain. Instead of putting it off, make sure you clean your windows at least every six months, inside and out. When you do, don't forget the screens. Dirt and allergens can really build up on the screens, which means they'll be blowing into your house every time you open your window.


Tip #9: Consider the curtains. Window screens aren't the only things capturing dirt and allergens. If you have heavy curtains that haven't been cleaned in a while, it's probably time for a good cleaning. While they're down, you may want to consider which rooms really need curtains. If you don't need them in a room for privacy or to break the harsh sun, you might consider eliminating the dirt trap altogether.


Final Thoughts


Tip #10: Get help. Let's face it–you're busy. Sometimes, the best step is admitting that you simply can't do it all by yourself. If that's the situation you face, it may be time to consider hiring a little help. The best news is that it doesn't have to cost you a lot of money. You can hire a house cleaner or even a local college student to clean every other week or even once a month. Better still, you can talk to the person about just doing the one or two cleaning jobs that take you the most time or are often overlooked. That way, you can keep the cost down, while keeping your house fresh and clean.


Remember, the best tip to follow is to do a little cleaning every day–even if it's something small. Whether you quickly straighten a room or replace the towels in the bathroom, a few minutes can go a long way to making sure your home is clean and healthy.



Friday, March 5, 2010

Tax Tips for 2009 - Good News about Last Year's Taxes


April 15th is less than six weeks away and we all know what that means. If you've yet to visit your accountant or tax preparer, there are some new tax laws, as well as a few old ones you need to know about. But, don't worry. All of the information we're going to share falls under the category of "good news".

Back again for his yearly tax-time advice is Trevor Rice, a certified public accountant and shareholder with Stern, Kory, Sreden and Morgan, AAC in Stevenson Ranch, California. Considering that Rice's appointment book is filling up quickly, we thought it would be a good idea to get him talking about some of the more favorable changes regarding our taxes from last year.


For Individuals
"With a lot of people struggling and finding themselves in survival mode," Rice says, "Our government is responding with help in the form of new tax laws."

According to Rice, the biggest benefit in terms of tax relief is extended to those who are losing their homes to either foreclosure or short sale. He says in the past, the amount forgiven by the lender could have been considered taxable income. Under the current law, up to $2,000,000 of cancelled debt can be excluded from being taxed.

Rice warns there are some provisions to the law. For starters, it ONLY applies to your principal residence. It also ONLY applies to the debt incurred from either buying the house, or from making upgrades and repairs. In other words, drawing from your equity line to pay off a credit card may still be taxed. Rice went on to say if you are deemed insolvent (the value of your total assets is less than your debt), you might be able to exclude ALL of the cancelled debt.

With this and every other tax law we'll talk about, Rice asks you to check your state laws, and consult with your CPA or tax preparer. While they will apply to your federal income taxes, they are not guaranteed to apply to your state taxes.

The next great tax break is for first-time home buyers, as they are eligible to receive an $8,000 refundable tax credit. Before we go any further we should make it clear that anything labeled a "tax credit" is a dollar for dollar reduction of your tax. Anything labeled a "deduction" is something that reduces your tax based on your income tax bracket.

You should also be made aware the term "first-time home buyer" is defined as anyone who has not owned a principal residence in the last three years. However, the provisions for using this credit on your 2009 taxes include entering into a purchase contract no later than April 30, 2010 and closing the transaction by June 30, 2010. It only applies to homes up to $800,000 in cost, and if you are a high-earner you may not qualify.

Along the same lines for homeowners in 2009 is an existing home buyer tax credit. This is a $6,500 credit for anyone owning a home as a primary residence, five out of the last eight years, but is looking to buy a new home. The same deadline dates for first-time home buyers apply to this credit as well. High-earners may also not qualify.

There's some good news, Rice says, for anyone who made energy-efficient improvements to their home in 2009. A $1,500 tax credit (30% of the first $5,000 spent) is available. Some examples would include the installation of energy-efficient windows or doors, insulation, a new furnace, or water heater. In the case of solar energy upgrades, the credit is thirty percent of the total cost, with no limit!

For anyone who has a child in his or her first four years of college, there is a new $2,500 credit. Also new is that forty percent of this credit is refundable. In other words, if the $2,500 credit exceeds the amount of your tax, forty percent of the difference can be refunded. There are a few exceptions to this credit, so make sure you check with your accountant.


For Businesses
"There are a few changes for business taxes this year," says Rice, "But the biggest are for businesses suffering losses." According to our expert, a business that shows a loss in 2009 has the ability to carry that loss as far back as 5 years and recoup taxes paid in any one of those years. The one provision, he says, speaks specifically to that 5th year, when you can only recoup up to 50 percent of the taxes paid. The trick he claims is for your accountant to look for the best year to apply that deduction.


Bonus depreciation is another law that businesses can use to their advantage. This law allows you to deduct fifty percent of the cost of new equipment purchased in 2009. One of the benefits to this deduction is that you can still use it even if your business suffered losses last year. Rice says that this law has been in existence, but it was supposed to expire in 2008. Thanks to our lawmakers, it has been extended to 2009.

Another law that has been extended from 2008 to 2009 is commonly known as "Section 179 Depreciation". This provides business owners the ability to deduct up to $250,000 of new equipment in one year. Prior to 2008, the amount was limited to $125,000.

Rice closed out our discussion by telling us there are many new tax laws, so involving a CPA in the process of filing your taxes is highly important. Equally as important, he says, is to inform your CPA anytime you have something of major importance going on in your life. This would include buying or selling a home, getting married (or divorced), and having a child. Rice says events like these will always affect your taxes in some way. The key is early intervention, as it allows for the most strategic planning.


Trevor Rice has been a practicing CPA for the past twelve years. A graduate of California State University at Northridge, Trevor also holds the title of CVA or Certified Valuation Analyst. He currently practices at Stern, Kory, Sreden and Morgan in Stevenson Ranch, California where he is also a shareholder. Trevor specializes in both individual and business taxation. He can be contacted via email at Trevor@SKSM.com.

Monday, February 15, 2010

Economic Focus for the Week of Feb. 15, 2010


From: www.HousingMatrix.com

Volume 14, Issue 05
For the week of February 15, 2010

Fair Weather Flags Fly For Housing

New Homes
This good news is beginning to resound for homebuilders. D.R. Horton and Beazer both report they are seeing higher numbers of orders together with a lower contract cancellation rate.
Horton reports that last quarter's orders for new homes were 45 percent above year-ago levels, and a cancellation rate drop from 38 percent to 26 percent.
Existing Home Values
According to the national PMI risk index, the movement of housing value movement "overall risk has decreased" in the movement of housing value movements in the 384 metro markets they survey.
The survey examines household income, economic growth, local employment, demographic changes to predict where home values are heading.
Some Economists credit the leveling of home prices to economic policies including the first-time homebuyer's credit, government purchases of MBS and the Fed holding down interest rates. There is good reason to be cautious with the passing of these policies and the release of the “shadow” inventory of homes onto the market.
At no surprise, the "sand states" of Arizona, California, Florida and Arizona were pegged at an "elevated risk."
A contra indicator has come from Zillow, whose index of home owner negative equity found that the national average rate dropped to 21.4 percent in Q409. This is still an improvement from 23 percent in Q209.
Home Equity Rising
The Federal Reserve's quarterly "flow of funds" report found that home equity is increasing for the first time in three years.
In the first three quarters of last year home equity increased by $1 trillion, by a combination of principal paydowns on mortgages and rising home values.

Key Economic Reports Released This Week 

RELEASE
DATE
ECONOMIC
INDICATORS
RELEASED
BY
CONSENSUSWt.INFLUENCE ON
INTEREST RATES
Tue 02/16
8:30 am et
Empire State Mfg. Survey
for February '10
Federal Reserve Bank of New York
16.0%
** If strong demand
 If weak demand
Tue 02/16
1:00 pm et
NAHB Housing Index
for February '10
National Association
of Home Builders

15
**Undetermined
Tue 02/16
1:00 pm et
Weekly Bill Auction
Dept. of the Treasury
N/A
** If strong demand
 If weak demand
Wed 02/17
7:00 am et
MBA Mtg Apps Survey
for week ending 02/12
Mortgage Bankers Association of America
N/A
*Undetermined
Wed 02/17
8:30 am et
Housing Starts / Permits
for January '10
Bureau of the Census
Dept. of Commerce

575k
*** If above consensus
 If below consensus
Wed 02/17
8:30 am et
Import & Export Prices
for January '10
Bur. of Labor Statistics
Department of Labor

ImPrice 0.9%
* If above consensus
 If below consensus
Wed 02/17
9:15 am et
Industrial Prod / Capacity
for January '10
Federal Reserve Board
Ip 0.5%
cu 72.3%
*** If above consensus
 If below consensus
Wed 02/17
2:00 pm et
FOMC Meetings
for 01/26-27 meeting
Fed Open Market Committee
N/A
****Determines Policy
Wed 02/17
2:00 pm et
Treasury Budget
for January '10
Dept. of the Treasury
-$46.0B
*Undetermined
Thu 02/18
8:30 am et
Jobless Claims
for week ending 02/13
Bur. of Labor Statistics
Department of Labor

448k
* If above consensus
 If below consensus
Thu 02/18
8:30 am et
Producer Price Index
for January '10
Bur. of Labor Statistics
Department of Labor

0.8%
core 0.2%
*** If above consensus
 If below consensus
Thu 02/18
10:00 am et
Leading Econo Indicators
for January '10
Bur. of Econ. Analysis
Dept. of Commerce

0.4%
*** If above consensus
 If below consensus
Thu 02/18
10:00 am et
Philadelphia Fed Survey
for February '10
Federal Reserve Board
16.8%
**Undetermined
Fri 02/19
8:30 am et
Consumer Price Index
for January '10
Bur. of Labor Statistics
Department of Labor

0.4%
core 0.2%
*** If above consensus
 If below consensus
* Low Importance** Moderate Importance*** Important**** Very Important