Whether you hire a professional or do it yourself, you need certain information and documentation to file your tax return. Here’s a list of items taxpayers commonly need to complete the job.
Category: Mortgage
Deutsche Bank Ends N.Y. Mirror-Trade Probe for $425 Million
Deutsche Bank AG has taken the first step to resolve allegations that it helped wealthy Russians launder billions of dollars, reaching a deal with New York’s Department of Financial Services that requires it to pay a $425 million penalty, the regulator said. The New York settlement, approved by the bank on Monday, resolves allegations that Deutsche Bank employees used a “mirror-trading scheme” to help wealthy Russians move $10 billion out of that country from 2011 through 2014.
Rates on US Treasury bills rise at weekly auction
Interest rates on short-term Treasury bills rose in Monday’s auction, with rates on six-month bills climbing to their highest level in four weeks. The Treasury Department auctioned $34 billion in three-month bills at a discount rate of 0.515 percent, up from 0.505 percent last week.
Pending Home Sales Rise More Than Expected
Contracts to buy previously owned U.S. homes rebounded in December following a drop a month earlier, the National Association of Realtors said on Monday. The NAR said it pending home sales index, based on contracts signed last month, rose 1.6 percent to 109.0. Analysts polled by Reuters had forecast a 1.0 percent increase in December.
4 Types of Tax Deductions You Probably Don’t Know About
To itemize or not to itemize? That’s one of the most important decisions you’ll make when preparing your tax return. Of course, you can’t make a good decision without understanding itemized deductions and knowing which ones are available for you to claim.
U.S. pending home sales increased in December
More Americans signed contracts to buy homes in December. The increase possibly reflects more people scrambling to purchase homes as mortgage rates have been rising and increasing the costs of ownership.
7 Tax Breaks You Might Actually Be Able to Use
You may have heard about some of the great money-saving tax deductions allowed by the IRS. The deductions for mortgage interest, charitable contributions, and medical expenses can be especially lucrative if you paid these expenses.
4 Smart Ways to Boost Your Credit Score In 2017
Did you make a New Year’s resolution to improve your credit score in 2017? If you didn’t, maybe you should. Improving your credit score can literally save you tens of thousands of dollars in interest on your next mortgage, and it can make it much easier to qualify for the best auto financing and credit card offers.
4 Smart Ways to Boost Your Credit Score In 2017
Did you make a New Year’s resolution to improve your credit score in 2017? If you didn’t, maybe you should. Improving your credit score can literally save you tens of thousands of dollars in interest on your next mortgage, and it can make it much easier to qualify for the best auto financing and credit card offers.
5 Lowest 15-Year Mortgage Rates
U.S. mortgage rates rose in the aftermath of the presidential election and potential homeowners face higher monthly payments. Homebuyers can still snag the absolute lowest rates for 15-year mortgages.
UBS Profit Beats Estimates as Market Rally Lifts Securities Unit
UBS Group AG said profit more than tripled in the fourth quarter as rising interest rates and a rally in equities boosted the bank’s securities unit and U.S. wealth management. Profit before tax rose to 848 million francs from 234 million francs a year earlier, the Zurich-based bank said Friday in a statement.
3 Dumb Mortgage Moves
Interest rates have been inching up, with the 30-year fixed mortgage rate recently approaching4%. According to the Federal Reserve and general expectations, they’ll continue rising in the coming years.
RBS to Take $3.8 Billion Charge Tied to U.S. Mortgage Probe
Royal Bank of Scotland Group Plc said it will take a 3.1 billion-pound charge in its fourth-quarter results as it moves closer to resolving a U.S. probe into sales of mortgage securities before the financial crisis. The lender is continuing to cooperate with the U.S. Department of Justice on its investigation, though timing of a settlement remains uncertain, the Edinburgh-based bank said Thursday in a statement.
China Said to Require Banks to Curb New Loans in First Quarter
China’s central bank has ordered the nation’s lenders to strictly control new loans in the first quarter of the year, people familiar with the matter said, in another move to curb excess leverage in the financial system. The instructions from the People’s Bank of China included a request for banks to keep any increase in new mortgage lending in the first quarter below the increase seen in the fourth quarter of last year, the people said, asking not to be identified as the discussions are private.
Hong Kong Retains Title of World’s Costliest Home Market
Hong Kong retained its rank as the most expensive housing market among 406 major metropolitan regions in the annual Demographia International Housing Affordability Survey for the seventh year in a row. The median price of a home in Hong Kong last year was 18.1 times the median annual pretax household income, the survey showed.
How Steven Mnuchin Could Affect the Markets
This commentary originally appeared on Real Money Pro at 1:00 p.m. on Jan. 20. Click here to learn about this dynamic market information service for active traders. Donald Trump’s nominee for Treasury Secretary, Steven Mnuchin, had his Senate confirmation hearing yesterday.
Why I’m Tracking Every Single Purchase I Make in 2017
I’m going to write about the “B” word today. No, not that “B” word — I’m talking about budgeting.
How to Prep (or Not) for Trump’s Proposed Tax Changes
Now that Donald Trump has been sworn in as president, changes might be on the way for the tax code. But it’s unclear what will change and how much.
AIG to Pay Berkshire $9.8 Billion in Insurance Transfer Deal
American International Group Inc. agreed to pay $9.8 billion to Warren Buffett’s Berkshire Hathaway Inc. to take on long-term risks from commercial policies written in prior years. The reinsurance deal covers 80 percent of the risks on certain U.S. policies from 2015 and earlier, representing reserves of about $34 billion as of Jan. 1, 2016, New York-based AIG said Friday in a statement.
Deutsche Bank Burden in Mortgage Settlement Eased by Fine Print
Deutsche Bank AG sought an unusual provision in its $7.2 billion mortgage-bond settlement with the U.S. government, and seems to have ended up winning it: the bank can pay down part of its penalty by lending money to fund managers. As part of the agreement, Germany’s largest bank has to provide $4.1 billion of relief for mortgage borrowers.
Deutsche Bank Burden in Mortgage Settlement Eased by Fine Print
Deutsche Bank AG sought an unusual provision in its $7.2 billion mortgage-bond settlement with the U.S. government, and seems to have ended up winning it: the bank can pay down part of its penalty by lending money to fund managers. As part of the agreement, Germany’s largest bank has to provide $4.1 billion of relief for mortgage borrowers.
May Insists Banks of – Huge Value’ as They Step Up Plans to Exit
Theresa May offered her strongest support yet for London’s financial district, insisting that banks are of “huge value” to the U.K. economy as executives signaled they were accelerating plans to move staff abroad after Brexit. “I value financial services in the City of London, and I want to ensure that we can keep financial services in the City of London,” the prime minister said in an interview with Bloomberg editor-in-chief John Micklethwait at the World Economic Forum in Davos, Switzerland, on Thursday.
Lloyds Said to Pick Frankfurt for EU Subsidiary Following Brexit
Lloyds Banking Group Plc, Britain’s largest mortgage lender, is set to pick Frankfurt as its base to maintain access to the European Union’s single market following Brexit, according to a person with knowledge of the matter. The U.K. bank will choose to convert its German branch into a subsidiary and plans to apply for an extension to its banking license, said the person, who asked not to be identified because the details aren’t public.
CMHC to hike mortgage insurance premiums by an average of $5 a month
CMHC is ratcheting up its mortgage insurance premiums starting in March for new applications. Existing policies will see no change.
Polish Banks Gain as New Buffer Said Not to Raise Requirements
Poland’s new capital requirements, recommended by the country’s financial watchdog, won’t create an additional burden on lenders, a person with knowledge of the plans said. Bank stocks rebounded.
Will Home Depot Raise Its Dividend in 2017?
The rebound in housing after the financial crisis was good news for homeowners, and it also helped drive improving results for Home Depot . The home improvement retailer benefited from greater interest both from do-it-yourself homeowners and from professional contractors, and investors have enjoyed not only long-term average annual returns in excess of 20% for more than 30 years but also significant gains in dividend payments.
Liz Weston: Retirement advice from retired financial experts
So I asked money experts who have quit the 9-to-5 for their best advice on how to prepare for retirement. They still faced curveballs when it was their turn.
Escalation clauses can make the difference when bidding wars arise
Even though much of the District is in what we would consider a fairly normal market, with moderate price increases and a climate that favors neither buyers nor sellers, there are some pockets that remain hot sellers’ markets. Whether it’s the most sought-after neighborhood or a hard-to-find price point, the end result is often the same – a bidding war breaks out.
Crackdown on Aussie Banks Boosted Mortgage Standards, APRA Says
Australian banks have “appreciably improved” their mortgage-lending standards, the nation’s regulator said, as it left the amount of additional capital banks are required to hold as a buffer against the build-up of credit risk at zero. The pace of lending to property investors is currently at around half of the regulator’s recommended levels, and higher-risk mortgages — such as those with loan-to-value ratios of over 90 percent — had fallen, the Australian Prudential and Regulatory Authority said in its annual report on the operation of the counter-cyclical capital buffer.
Hidden Fees Cost Consumers Billions: Which Ones Are the Worst?
Fees for common items like mortgages, credit cards, bank accounts and online deliverables, among many others, can really add up, and do hit consumers hard in the pocketbook. That goes double for so-called “hidden fees” – shadowy charges on goods and services that buyers usually don’t know about.
These 3 Deals Show Just How Desperate Sears Holdings Is
Sears has time and again had to resort to one-time infusions of cash simply to keep the lights on at its Sears and Kmart stores. Image source: Sears Holdings.
Stock picks for Trump era
The S&P 500 returned +1.82% in the fourth quarter of 2016 and 9.54% for the year-to-date. The year-to-date return of 9.54% is impressive given that market pundits had predicted a fall in stocks on a Trump win.
Bank of America Kicks Off Bank Earnings With a Profit Beat
Bank of America said its fourth-quarter profit rose 43% as its trading desk benefited from the uncertainty caused by Donald Trump’s surprise election. Quarterly profit at the Charlotte, N.C.-based bank grew to $4.7 billion, from $3.28 billion a year earlier.
Market Recon: Now Our Attention Turns to Earnings Season
“I am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it’s possible.” — Milton Friedman The markets are coming off of a wild Thursday session that saw equities sell off rather harshly and then rally most of the way back.
Home Equity Line of Credit Rates to Rise; What Should You Do?
Mortgage rates may be a mystery; they move up one day and down the next, often befuddling the experts. However, the prime rate, which is the foundation for the interest you’re charged on home equity lines of credit , is a bit more transparent.
SoFi: A Financial Services Provider That Is So Not Wall Street
In the old days, banks were imposing granite buildings housing massive vaults and offering 3% on savings and 6% mortgages. Later they morphed into unassuming suburban branches distinguished from fast-food outlets primarily by having multiple drive-through lanes.
Pace of Canadian housing starts rises in December: CMHC
CMHC said housing starts were higher in December on a seasonally adjusted annualized basis, but added that the six-month trend was down. The seasonally adjusted annual rate of housing starts across the country rose to 207,041 units in December, up from 187,273 units in November, Canada Mortgage and Housing Corp. reported Tuesday.
Rates fall at weekly US Treasury bill auction
Interest rates on short-term Treasury bills fell in Monday’s auction, with rates on six-month bills dropping to their lowest level since early November. The Treasury Department auctioned $34 billion in three-month bills at a discount rate of 0.510 percent, down from 0.530 percent last week.
Mortgage Rates Dipped At Year-End, But Buyers Shouldn’t Get Too Excited
After a big run-up in mortgage rates after the Federal Reserve boosted its benchmark interest rates in mid-December, mortgage rates are in a moderate decline in the last week. On Tuesday, January 3, the average 30-year mortgage rate slid one basis point, from 3.96% to 3.95%, according to Zillow.com.
6 Tax Deductions Homeowners Won’t Want to Miss
Though there are plenty of good reasons to buy a home, owning property can be a costly prospect. From maintenance to insurance to real estate taxes, there are numerous costs that come with buying a home.