Author Archives: Paul H. Begemann

DONATING TO CHARITY?

Do Your Homework First! As the year end nears, many people start thinking about their taxes and charitable contributions. In fact, Tuesday, November 27, 2018 has been designated as #GivingTuesday, a global day of giving. Donations to a charity recognized under Section 501(c)(3) of the Internal Revenue Code are tax deductible for most taxpayers. Americans… Read More »

WHAT ARE OPPORTUNITY ZONES?

Part of the tax overhaul bill passed by Congress in 2017 includes a new community development program to encourage investments in lower-income communities. Each state, including Connecticut, was able to select certain areas as “Opportunity Zones.”  Connecticut designated 72 areas as Opportunity Zones.  The Opportunity Zones in our area include certain census tracts in New… Read More »

NEW CREDIT FREEZE AND IDENTITY THEFT LAWS IN CONNECTICUT

Unfortunately, credit breaches have become routine with major companies. Large repositories of information such as Anthem in 2015 and Equifax in 2017 (which alone involved over 143 million people) have suffered data breaches, along with many other small and large companies.  Identity theft continues to be a major problem and a major concern for many… Read More »

RUNNING BAMBOO – A Potential Liability for Connecticut Homeowners

“Running bamboo” is a specific type of bamboo plant which has a tendency to spread well beyond where it was originally planted. Running bamboo is sold and planted in Connecticut as an ornamental garden plant and due to its rapid growth and spreading properties, frequently used as a hedge or border plant.  Unfortunately, the properties… Read More »

BUYING A BUSINESS

What is involved with a purchase of an existing small business? This blog post will discuss some basic points to consider. Structure of the Purchase: Most small business purchases are actually what are known as asset purchases.  In an asset purchase, the buyer purchases certain tangible assets, which are physical assets such as inventory, furnishings,… Read More »

LOW DOWN PAYMENT MORTGAGE OPTIONS FOR YOUR HOME PURCHASE

Purchasing a home, especially as a first-time home buyer, can be overwhelming. This is especially true when it comes to considering how to finance your dream home.  Unless you are one of the lucky few who can pay cash, purchasing a home requires obtaining a mortgage loan.  There are numerous options for mortgage financing. Traditionally,… Read More »

TYPES OF TITLE INSURANCE

In a recent blog post (What is Title Insurance & Do I Need It) I discussed the basics of title insurance.  This blog post discusses the different types of title insurance that are generally available in a residential real estate closing. The Loan Policy: A loan policy of title insurance is always required by the… Read More »

WILL HOMEOWNERS BE AFFECTED BY THE NEW FEDERAL TAX LAW?

Updated March 27, 2018 Congress recently passed and President Trump signed into law a sweeping overhaul of the federal income tax structure. The experts are still sorting out all of the various parts of the very complicated law and its potential impact on individuals and businesses.  Discussed here are some of the changes in the… Read More »

MORTGAGE LOAN LIMITS INCREASED FOR 2018

Loan limits are being increased for both conforming loans and FHA loans for 2018. The Federal Housing Finance Agency (FHFA) recently announced an increase in the “conforming” loan limits effective January 1, 2018. (Click for More Info). Conforming loans are those loans which are readily saleable into the secondary mortgage market (specifically to Fannie Mae… Read More »

COMMERCIAL LEASES – Important Considerations For Tenants

For many small business owners, one of the first major transactions as they grow or transition from a home-based business is signing a lease as a tenant for commercial space for their growing business. All too often, a new commercial tenant will not scrutinize the proposed lease as carefully as they should before signing it,… Read More »

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