<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > Talked to my accountant. poss tax refund
 

Talked to my accountant. poss tax refund

February 14th, 2014 at 02:13 pm

Hi all

That 3 unit guy is paying and getting caught up in full next week. Love my property manager on this one!

Testing day at work went well (I run datacenter migrations for this company for banks.... crazy insane job!)..I will ask for my extension in mid March though. Boss is gone ALL APRIl so I can likely work at home more then.I currently work at home 2x a week.. but lots of people work at home there. normal for company..

and talked to my accountant. he thinks I can get between 4-8k back on my taxes. Hopeful look!! that would be awesome. News next week. We will meet then.

I want a cash cushion... used up all available cash w that short refinance. After the 2 flat drops... unless I pick up some consulting jobs (which are fun and have 3 possibles in the works) I am going to have a BIG drop in savings and my plan is to fund BOTH emergency funds this year and breathe a little easier.

Happy Valentines Day all. The sun is shining .. feels good and fun to see it through the windows...and I got a free coupon to wash my truck (filthy!).. and am then going to dinner.

Smile

Rachael

3 Responses to “Talked to my accountant. poss tax refund”

  1. Another Reader Says:

    Have you revisited the short sale possibility for the two family?

  2. TashaC. Says:

    Thanks for the update! I think the worst is behind you and now you can start recovering and growing! Exciting to watch the progress.

  3. Rachael777 Says:

    on the short sale.. I have looked at that. I have 2 exit plans for the loan I am in (1) this guy who needs the foreclosure just 'closed' whether it be short sale, deed in lieu or sold, 640 score and similar income, debt etc (knows about car already) ANd for me to own the house a year (have a strategy that may shorten that) (2) FHA 'back to work' .. 540 score, similar income and 1 year waiting period past foreclsoure sale, deed in lieu OR SHORT SALE (1 year after court case has dropped.) The foreclosures do not show on my credit report (only in court records) since I filed for BK, Chapter 7. So.. there is no advantage to doing the short sale. So to minimizes stress and work and avoid delaying the closure of the foreclosure case.. I am just 'letting the 2 flat go'. It will have no impact on my credit report and a short sale does not help my refinance. The 3 month redemption period is up mid April. sale date can be set 30 days after that and then 30 days to confirm sale. so have til Mayish? w the rents. However city wants downstairs tenant out by April 1 (I am not doing the requested egress window.. cost $2k . does not make sense w short time frame) so beginning April my rental income (from the 2 flat)will drop to $1350 and then drop totally in May (ish). It sounded like a good idea for a while there but sounds like waiting period also includes short sale date too..

    Thanks for reading. Trying to stabilize and build those funds ASAP.. and enjoy life and be ready for the refinance. Note" house is in 'saleable' shape as is now..

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]