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All posts for the day March 4th, 2013

Hotels getting stingier with rewards programs

Posted by danetteoneal1 on March 4, 2013
Posted in: education, Uncategorized. Leave a comment

Hilton will nearly double the points needed to stay at its most popular locations during peak seasons. Marriott, which also operates Ritz Carlton, will increase the points needed to stay at more than 1,000 of its hotels in the United States and abroad after May 15, according to a company document.
Starwood, meanwhile, will change one of its popular programs by hiking the combined points and cash needed to stay at the majority of its hotels by 25%.
When the changes go into effect in coming months, all the points that loyalty program members have racked up through hotel stays and credit card purchases will immediately drop in value.
Now that it’s time to redeem them.

What???? Here’s another report…CNN MONEY REPORTS: 30% Americans with associate’s degrees make more than those with bachelor’s degrees. last week i found out that many graduating from trade schools are making more than anyone out here… I’m screaming…..I HAVE A PhD, ALL THESE PEOPLE Earn MORE THAN ME!!!! Read the full story: http://t.co/Rsfttc9Xka

Posted by danetteoneal1 on March 4, 2013
Posted in: Cool facts, education, Uncategorized. Leave a comment

What is the new 3.8% tax and how does it affect sellers?

Posted by danetteoneal1 on March 4, 2013
Posted in: education, Home Ownership. Leave a comment

A new income tax provision started on January 1st, 2013, that may affect some sellers of real estate. The tax is 3.8% of “net investment income”, if the sellers fit into certain categories:

1. Joint income tax filers with adjusted gross income of $250,000 or more;
2. Single income tax filer with adjusted gross income of $200,00 or more;
And
1. Joint income tax filers with more than $500,000 profit on the sale of the principal residence;
2. Single income tax filer with more than $250,000 profit on the sale of the principal residence;
Or
3. Capital gain on the sale of investment real estate.
The new 3.8% tax applies to the LESSER of:
a. The investment income amount or b. The excess of adjusted gross income over the $250,000 (joint) or $200,000 (single).
According to the National Association of Realtors, this new tax will not affect many home sellers, based on the income threshold and the gain threshold on principal residences. The sellers of investment properties will be taxed on investment income that exceeds the income thresholds above. See http://www.realtor.org/small_business_health_coverage.nsf/docfiles/government_affairs_invest_inc_tax_broch.pdf/$FILE/government_affairs_invest_inc_tax_broch.pdf for further explanations and examples.