Oil and gas landmen often work long, irregular hours to fulfill their duties. While this sub-field generally compensates experienced workers well, there are plenty of drawbacks to it as well. For starters, oil and gas landmen must deal with a variety of tax issues that workers in other fields simply don't have to consider. Learn more about how the IRS expects landmen to complete their taxes and what steps said workers can take to reduce or mitigate their tax burdens.
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Since the housing market bust of the late 2000s, mortgage rates have remained at historically low levels. While there's no guarantee that this situation will continue into the future, most economists expect interest rates to follow a "new normal" pattern that makes the spikes of the late 20th century look punitive. Homeowners who wish to restructure their finances and free up some cash flow for debt repayments, investments or other projects may wish to investigate the plethora of refinancing options available to well-qualified homeowners. One of the most popular refinancing vehicles for homeowners with existing mortgages is known as the Home Affordable Refinance Program.
Texas has a proud tradition of adherence to the tenets of free-market capitalism, but its lawmakers aren't averse to lending local businesses and communities a helping hand. Since its enactment in 2001, the Texas Economic Development Act has provided a broad framework for disadvantaged Texas communities to join the "21st century economy" and enjoy the robust opportunities that have made the state the envy of the rest of the country. This article briefly explains the history and scope of TEDA.
Things aren't always bigger in Texas. To the delight of its homeowners, the Lone Star State boasts some of the country's strongest curbs on home equity lending. These effectively reduce the size of the average Texas home equity loan and foster a range of safeguards for local homeowners who wish to tap the equity in their homes without taking on undue risk. At the same time, it's crucial for homeowners to understand their responsibilities as borrowers and take steps to minimize the risk of unpleasant surprises.
For most people, interest payments are a fact of life. Unless you're independently wealthy or have committed to leading an ascetic existence that requires no formal education, credit or significant assets, chances are good that you pay interest on a regular basis. From monthly mortgage payments to past-due credit card balances, these expenses can add up quickly.
These days, it can seem like it's easier to get out of debt than to get into financial trouble in the first place. Of course, this isn't the case. While there are myriad ways to get tripped by up debt, there are only a few tried-and-true methods of extrication. Debt restructuring is often cited as an attractive alternative to more drastic measures like bankruptcy.
In the popular consciousness, bankruptcy tends to be a black-or-white affair: When you're insolvent, you declare bankruptcy and allow your creditors to take what they please. Of course, this is an overly simplistic conceptualization of a fairly complicated area of the law. In addition to the better-known distinction between reorganization and liquidation, the bankruptcy code makes another key differentiation between "core" and "non-core" bankruptcy proceedings. It's crucial for filers and their families to understand the difference between the two.
While it's commonly advertised as a last resort for consumers and business owners who simply can't remain current on their debts any longer, bankruptcy is a surprisingly popular form of debt relief. If you've decided that a bankruptcy filing is the best way to preserve your financial dignity and stop a bad situation from becoming worse, avail yourself of this step-by-step guide to U.S. bankruptcy proceedings.
Contrary to popular belief, filing for bankruptcy is not a "magic pill" that has the power to cure all of your financial problems. If you're struggling to make ends meet, it's up to you to do everything in your power to avoid insolvency. Bankruptcy leaves a lasting black mark on your credit profile and may have serious unintended consequences, including job loss and foreclosure. In situations where bankruptcy is unavoidable, the venue in which you file may play a crucial role in your case's eventual outcome. Learn more about some major differences between state and federal bankruptcy laws.