Articles

Organized Business Records Save Time and Money

Here are some suggestions to help you master the art of documenting and organizing your business now and in the future. Document policies and procedures. Write down daily responsibilities, skills needed to complete tasks related to these responsibilities, and the location of all paper and electronic files. Appoint and cross-train backup staff to ensure these daily tasks are done. Document your succession plan. It may not be for another 10 or 20 years, but documenting your

Be Prepared For These Pandemic-Related Tax Surprises

Don’t get shocked by a high tax bill! Be prepared for these pandemic-related tax surprises when you file your 2020 tax return. Taxes on unemployment income. If you received unemployment benefits in 2020, you need to report these benefits on your tax return as taxable income. Check to see if either federal or state taxes were withheld from unemployment payments you received. If taxes were not withheld, you may need to write a check to the

4 Ways to Make Sure Your Tax Return Doesn’t Get Stuck

Here are four ways to make sure the preparation of your tax return keeps humming along until it gets filed. Keep tax documents in one place. Missing items are one of the biggest reasons filing a tax return gets delayed! Find a place in your home and put all tax documents in this one place as you receive them. Common missing items this year will include the new 1099-NEC for any taxpayers that are contractors, consultants

COVID Update for Landlords: Eviction Moratoria

The State of Affairs Since October As a landlord, you know that expecting and requiring payment on time is not done out of spite or greed. It is a matter of business and, indeed, of making sure that your own family can keep a roof over their heads. After all, you may have your own mortgage to pay, and banks are not as forgiving to their creditors as you are with your tenants. The Massachusetts Moratorium

Allergic tenant has priority over emotional support dog

It’s a complicated balancing act between the comfort of an apartment tenant who has dog allergies and another tenant who needs an emotional support dog. In a recent case, the Iowa Supreme Court decided that a building in Iowa City, Iowa, that typically doesn’t allow pets should not have allowed a new tenant to have an emotional support dog when an existing tenant with severe allergies protested. The allergic tenant sued the landlord for breaching the

The threat of eviction: What renters need to know

With bans on evictions expected to lift in many places and a backlog in housing courts nationwide, there is a chance for a surge in the number of tenants who are at risk of eviction if additional government support isn’t forthcoming. The rules on eviction depend on where you live. A federal government ban on evictions for tenants in federally financed housing covered one quarter of renters. Some states have extended moratoriums on evictions, including Michigan

It’s getting harder to get a jumbo loan

Prospective home buyers who want to buy luxury homes may now have to meet tougher requirements in order to qualify for a jumbo loan, also known as a jumbo mortgage. A jumbo loan involves financing beyond the limits set by the Federal Housing Finance Agency. This type of mortgage cannot be guaranteed, purchased or securitized by Fannie Mae or Freddie Mac. Since the pandemic began, lenders have become stricter about approving them. That means buyers trying

Foreclosures hit a low, at least for the time being

The number of foreclosure filings nationwide dipped to a record low as of the mid-point of 2020, according to ATTOM Data Solutions’ Midyear 2020 U.S. Foreclosure Market Report. Filings were down 44 percent over the course of the first six months of the year as compared to the same period of 2019, with a total of 165,530 properties in the U.S. receiving a foreclosure filing during that time. The filings cover default notices, scheduled auctions and

Know your rights with vacation rentals

More people are seeking out vacation rentals recently for longer stays and single-family living while traveling. A vacation property offers more space, privacy and easier social and physical distancing. In many places, you also get more for your money. If you’re planning to rent a property for your next vacation or an extended stay, it’s important to keep in mind that your rights as a renter vary depending on what state you’re visiting. Generally, there are

How the pandemic may affect long-term care insurance

If you have a long-term care insurance policy, you may wonder how it is affected by the pandemic. If you don’t have a policy, you may wonder if the pandemic will make it more difficult to get one. There are lots of uncertainties regarding COVID-19’s impact on long-term care insurance, but here is some of what we know: Qualifying for insurance. It is already more difficult to qualify for long-term care insurance as you get older.

Florida

Massachusetts

New Hampshire

Beliveau Law Group