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The tax benefits of homeownership

DamonCarrBox

There’s no place like “your” home! Less than 2 percent of Americans actually own their homes independent of a mortgage. Meaning 98 percent of Americans have a “limited” vested interest in their property, sharing ownership rights with the mortgage company. This boils down to one startling statistic. Either your housing payments are being used to pay down “your mortgage”—if you are a homeowner. Or your housing payments are being used to pay down someone “else’s mortgage”—if you are a renter. Given the fact that shelter is one of the basic necessities of life it stands to reason that many of us will have either a long-term or permanent housing expense. One tax strategy that many financial savvy people employ is to convert non-deductible interest expense to deductible interest expense. Housing expenses as a renter are non-deductible whereas housing expenses as a homeowner are deductible. Translation—seek homeownership over renting. It’s the taxable thing to do.

Last Updated on Monday, 03 December 2012 19:20

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Secrets exposed, myths vanquished at business summit

by Stephen D. Riley

(NNPA)—There were no tennis shoes, jeans or sweatshirts present at the Minority Business Summit’s “Men of Influence” luncheon Feb. 20, just neatly creased slacks, fashionable ties and double-breasted suits. But the only thing sharper than the dress code may have been the entertaining and sharp dialogue among the event’s guests. Inside the Billie Holiday Ballroom at the Baltimore Hilton Hotel, some of the most prominent figures in minority business gathered at one of the area’s premiere annual business conferences.

Last Updated on Monday, 03 December 2012 19:20

Hits: 852

Business Calendar

Certification &

Contracting Workshop

FEB. 24—The U.S. Small Business Administration will host an 8(a) and HUBZone Certification & Contracting workshop from 9 a.m.-12 p.m. at The Riverside Center for Innovation, 700 River Ave., 1st floor Conference Room, North Side. It is free to the public.  MBE/WBE and Veteran-owned businesses are encouraged to attend.  Registration is requested.  For more information, call Marisa Fentzel at 412-395-6560 ext. 109.

Last Updated on Monday, 03 December 2012 19:20

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Celebrating a heritage of economic survival

by Charlene Crowell

(NNPA)—At a time when the source of so much consumer angst is focused on the ill effects of consumer lending, it was both fitting and appropriate for the 2010 theme of Black History Month to be economic empowerment. The theme, as in previous years, was identified by the Association for the Study of African-American Life and History, the organization that provides ongoing service to the vision and works that Dr. Carter G. Woodson first began in 1926.

Last Updated on Monday, 03 December 2012 19:20

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Business symposium set for women entrepreneurs

Branding and marketing guru Erin Patton is scheduled to share his strategies and techniques during the YWCA of Greater Pittsburgh’s Microenterprise Symposium, Feb. 20. Aiming to provide practical information that entrepreneurs can implement in a down economy, Alice Williams, business support specialist for the YW Enterprising Women Program, a part of the Asset Development Initiative of the YWCA Greater Pittsburgh, says the symposium is designed to empower women, which is the mission of the YWCA.

RuthByrdSmith
SHARING KNOWLEDGE— Ruth Byrd-Smith from the Allegheny County Department of M/W/D/B/E is set to serve as kickoff speaker for the Feb. 20 Microenterprise Symposium.

The Microenterprise Symposium, carrying the theme “Micro 2 Millions” will take place from 8 a.m.-4 p.m. at Carnegie Mellon University at the Tepper School of Business, 5000 Forbes Ave.

Last Updated on Monday, 03 December 2012 19:20

Hits: 1399

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