Property tax

In order for a private healthcare institution’s real estate and personal property to be tax exempted, there are two qualifying factors. The factors are qualifying as a charity and use for a charitable purpose (Showalter, 2012). To qualify as a 501 (c)(3) charitable organization, the organization must be organized and operated for religious, hospital, educational, employee representation, or welfare purposes (Showalter, 2012). In order for an organization to qualify as charitable, the IRS has…

Real Estate Tax Strategies Achieving Financial Strength Through Real Estate Tax Strategies The right tax strategy can help you build true wealth because you can deduct hundreds of everyday personal and business expenses and interest payments, generate cash flow from rentals while building equity and realize tax-free capital gains on the sale of primary homes every two years. Any financial portfolio benefits by including real estate to hedge and balance the investments. In real estate, agents…

Governance Policy The Swedish American Museum is a non-profit institution that aims to interpret the immigration legacy by presenting various items (oldest dating back to the 18th century) in the Permanent, Educational, Library and Furnishings and Properties Collections, as well as through their arts and educational programs. They want to promote their mission for both adults and children and help develop an appreciation for the contemporary Swedish-American culture. Their vision is to become a…

Eminent domain, the government taking one’s property for a just compensation, and using the land for a public use, can destroy someone’s life or an entire neighborhood. If the government can take control of anyone’s land, the government can take control of the people. Most Americans would say that their home is a cherished land with many extravagant and astonishing memories of their past. Now ask the same Americans if they would be “ok” with someone swooping in and just taking all of those…

Fair market value is a standard typically used for real estate valuation, certain tax issues, and employee stock ownership plans. Fair value in a legal context is a standard typically used for business interest valuation for estate tax and business litigation. Fair value in a financial reporting context is appropriate for the preparation of financial statements. The terms fair market value and fair value are typically used in business-owner buy-sell agreements without proper consideration of the…

Insurance “the individual mandate violates the Fifth Amendment by allowing the government to take property without just compensation.” While, the federal government has a constitutional right to "take" private property for public use, however, the Fifth Amendment's Just Compensation Clause requires the government to pay just compensation, interpreted as market value, to the owner of the property. Subsequently, the empirical result of Obamacare proves it…

different approaches that can be taken to determine a property’s market value. The first important step to finding values of properties is making sure you understand the real estate market you are selling it. By knowing the area and what types of properties sell in these areas, it gives to person assessing the property a better view of what the seller is able to get for the property in question. These people would know what people in the area are looking for in their homes as well as what…

Sharon Wu Prof. West History 7A October 16, 2014 No Taxation without Representation The Seven Years War, a global conflict known in America as the French and Indian War, took place on May 15, 1756. This war brought to England more land in America and any English Subjects living in America had more land and more money. However, the outcome of the war was not only a victory to Great Britain but also debt to the country. As the name described, the war lasted seven years and for seven years, a…

Owning a home, a place to raise a family and create memories. A dream that many holds close to their hearts and at one point lived the dream. Feeling the pride of ownership, having a place to raise a family, create memories and receive tax benefits. Then the day comes the economy takes a downfall, and people start to lose their jobs. Cash becomes low, not enough to pay the mortgage on the house, and then the home is foreclosed. Taken away by the banks, losing the benefits of owning a home, and…

renting. When you rent, you aren’t committed to pay it for a long time. so if you change your mind about where you want to live, you can do that. It also can be cheaper, as the rent is usually cheaper than an owned house. Also, you don’t have to pay property taxes, as the landlord would do that. In conclusion, if you don’t want a commitment, or you don’t have a stable income, renting might be for you. Renting does have it’s cons too. One big things to know is that you have…