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Did you know your Rental Agreement / Lease is usually 10 times stronger than your local laws? including criminal laws?
Learn how to ENFORCE Your Rental Agreement Violations including Evicting them for the same
Simply click to Register Now for FREE Investor Training
ATTENTION LANDLORDS: Do You Knock On Doors To Collect Rent?
This is the second time in just a couple of years that a Louisville Landlord was shot dead by their tenant. The previous murdered Landlord was a dispute over a $58 utility bill
LOUISVILLE (WHAS11) – A SWAT standoff in Portland is now over after a man fatally shot another man in the 2300 block of Griffiths in Portland.
The suspect, 21-year-old Joshua Lewis Young is charged in his death. LMPD said the shooting was the result of a landlord tenant dispute.
The landlord was fatally shot when he arrived at the home to collect rent.
From SKY11, you could see dozens of officers, K-9 units and the SWAT team surrounding Young’s residence and the nearby area where the search for Young happened for most of the day. Neighbors, many who wanted to conceal their identity because of fear of retaliation, said they heard several gunshots around noon Monday.
“Whatever gets in their way, they are going to shoot. Something has got to be done this world is getting crazy every day, every day,” one neighbor said.
LMPD said the landlord arrived at a home in the 2800 block of Griffiths to collect rent and was shot by Young multiple times. The landlord then left the scene in an effort to drive himself to the hospital.
“A little later officers found the victim that had been shot multiple times at corner of 24th and Owen Street. He was taken to University Hospital where he was later pronounced dead,” Dwight Mitchell, Spokesperson for LMPD, said.
SWAT teams rushed in and moved neighbors to safety. It’s a scene that neighbors said they never would have imagined.
“This is too close to home. I have been here 60 years and nothing like this has ever happened in my 60 years of being here,” another neighbor said.
The family said Young was in the home at the time with his girlfriend and a 3-year-old child. They were not harmed.
Plan is ‘final crisis-era’ modification program
A day that many in the housing industry thought would never come is finally and actually here, as the Federal Housing Finance Agency is making official what was first reported several weeks ago – widespread principal reduction is coming.
DEATH PENALTY for Unpaid Rent? – True Story
The article below was published on April 18, 2016
FYI, in my hometown Louisville, Ky,
a 49 year old landlord murdered by tenant over a 58 utility bill
(this article follows the first article below)
Landlord KILLS Tenant
because he did not pay $550 rent
A South Florida landlord is accused of fatally shooting a tenant following an argument over rent.
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61 minute video
Permanent Extensions for Individuals
Incentives for individuals extended permanently, and in some cases modified, by the PATH Act include:
- American Opportunity Tax Credit
- Deduction for certain expenses of elementary and secondary school teachers
- Parity for exclusion from income for employer-provided mass transit and parking benefits
- Deduction for state and local sales taxes
- Reduced earnings threshold for additional child tax credit
- Modification of the earned income tax credit
- Tax-free distributions from individual retirement plans for charitable purposes for individuals age 70 ½ and older
- Special rule for qualified conservation contributions
For some of the incentives, the modifications are significant. For example, the deduction for qualified expenses of elementary and secondary school teachers has been modified to include professional development expenses. Please contact our office for more details.
Permanent Extensions for Businesses
The PATH Act makes permanent, and in some cases modifies, many popular tax incentives for businesses, including:
- Research tax credit
- Enhanced expensing under Code Sec. 179
- Charitable deduction for contributions of food inventory
- Tax treatment of certain payments to controlling exempt organizations
- Extension of basis adjustment to stock of S corporations making charitable contributions of property
- Employer wage credit for employees who are active duty members of the uniformed services
- Extension of 15-year straight-line cost recovery for qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements
- Treatment of certain dividends of regulated investment companies
- Exclusion of 100 percent of gain on certain small business stock
- Reduction in S corporation recognition period for built-in gains tax
- Subpart F exception for active financing income
- Temporary minimum low-income housing tax credit rate for non-federally subsidized buildings
- Military housing allowance exclusion for determining whether a tenant in certain counties is low-income
- Extension of RIC qualified investment entity treatment under FIRPTA
As with the individual incentives, some of the modifications to the business incentives are significant. The research tax credit is not only made permanent, it is enhanced for small businesses. Expensing under Code Sec. 179 is made permanent at generous dollar and investment limitations. Previous limitations for the employer credit for activated reservists are relaxed. For more details, please contact our office.
More Incentives Extended
The PATH Act did not leave out the rest of the traditional extenders. However, lawmakers did not make these remaining tax breaks permanent. Extended for several years (in some cases through 2019, in other cases through 2016) are:
- bonus depreciation,
- the Work Opportunity Tax Credit (WOTC),
- the higher education tuition and fees deduction,
- energy incentives, the Indian employment credit,
- special expensing rules for television and film productions,
- and more.
Because the extensions are not uniform, as mentioned, some tax breaks are extended through 2019 and others are extended through 2016, careful planning is vital.
J. Michael Grinnan, CPA.CITP
Certified Public Accountant
9900 Corporate Campus Drive, Suite 3000
Louisville, KY 40223
Unanimous decision for 0.25% raise
(Source: Federal Reserve)
The Federal Open Market Committee announced in its December meeting that it is officially raising the federal funds rate for the first time since June 2006.
In a statement released Wednesday by the Federal Reserve, the FOMC said that it will gradually raise the federal funds rate to a range of 0.25% to 0.50%
“Given the economic outlook, and recognizing the time it takes for policy actions to affect future economic outcomes, the committee decided to raise the target range for the federal funds rate to 0.25% to 0.50%. The stance of monetary policy remains accommodative after this increase, thereby supporting further improvement in labor market conditions and a return to 2% inflation,” the FOMC said in a statement.
Moving forward, the FOMC said, “In determining the timing and size of future adjustments to the target range for the federal funds rate, the committee will assess realized and expected economic conditions relative to its objectives of maximum employment and 2% inflation.”
All FOMC members voted unanimously.
According to the economic projections of Federal Reserve Board members and Federal Reserve Bank presidents under their individual assessments of projected appropriate monetary policy, the federal funds rate is projected to grow from 0.4% in 2015 to 3.4% in 2018.
During the October meeting, the Federal Reserve said that it would not raise the federal funds rate at that time, citing the fact that the country’s economy still had not met the targets laid out by the FOMC.
However, since that meeting, Fed Chair Janet Yellen has said in a Congressional committee hearing on the U.S. economy that the current outlook and the flow of data since the central bank’s last meeting in October are “consistent” with the rate hike criteria spelled out by U.S. policymakers.
And in November, in a speech before the House Financial Services Committee, Yellen formalized the possibility of a rate hike in December, telling the Committee that a rate increase in December was a “live possibility.”
Recent housing news also supported a rate hike, with the November jobs report showing that job creation increased by 211,000 for the month. Consumer spending echoed that, recording solid growth in November.
What are your thoughts and comments?
Wednesday, August 31, 7:24 pm
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- Tuesday’s POWER LUNCH – Rental Agreement Violations Do’s and Don’ts
- Another Louisville Landlord Shot Dead After Knocking On Door For Rent
- NEW Principal Reduction Program from FHFA
- DEATH PENALTY for Unpaid Rent – TRUE STORY!
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