Ronald J. Cappuccio, J.D., LL.M.(Tax)

Ronald J. Cappuccio, J.D., LL.M.(Tax)
Tax Attorney and Business Lawyer

Sunday, March 14, 2010

Foreclosures will Increase

The Washington Post Reported:

The housing market is facing swelling ranks of homeowners who are seriously delinquent but have yet to lose their homes, and this is threatening a new wave of foreclosures that could hit just as the real estate market has begun to stabilize.

About 5 million to 7 million properties are potentially eligible for foreclosure but have not yet been repossessed and put up for sale. Some economists project it could take nearly three years before all these homes have been put on the market and purchased by new owners. And the number of pending foreclosures could grow much bigger over the coming year as more distressed borrowers become delinquent and then, if they can't obtain mortgage relief, wade through the foreclosure process, which often takes more than a year to complete
.

Solutions include Mortgage Loan Modifications and short sales

Thursday, March 11, 2010

Government requires NonProfits to Incur Accounting Expenses

Nonprofit groups are paying a price for the corporate and accounting misdeeds of Enron, Tyco International and others nearly a decade ago.That price is manifested in increased tax-preparation and auditing fees.

In simple terms, the federal government now requires nonprofit groups to provide more extensive information at tax time to make sure they are functioning correctly.
Click Here for the full article