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More Pleased Home Owners Closing on Their Home Sales!

More happy home owners closing on their home sales at Thompson Law Group, PLLC. Julia Shea- Norfolk, Virginia Real Estate with Chandler Realty, Inc. did a great job as the listing agent for the sellers. #ClosingNinja  

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A Happy Day for Home Buyers!

More happy home buyers closing on their home purchases at Thompson Law Group, PLLC. James Walrod with Veterans United Home Loans did a great job as the loan officer for the buyers.#ClosingNinja

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Home Loan Refinances Done Right!

More happy home owners Closing on their home loan refinances at Thompson Law Group, PLLC. Sydney Comisky with TowneBank Mortgage did as amazing job as the loan officer for the borrower.  #ClosingNinja

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Europe’s new data privacy law – CSMonitor.com

The EU’s data collection measures take effect May 25 and will reach beyond the Continent. Here’s what you need to know. Companies that do business with those in the European Union must comply with its General Data Protection Regulation (GDPR). The law could compel people in other countries to demand such measures, too. Passed two years ago, the GDPR is poised to reshape how companies, regardless of location, collect personal data for uses that include advertising. Such information includes birth dates, political affiliations, and television viewing habits. This translates into a few major steps, according to Nick Couldry, a media and communications professor at the London School of Economics and Political Science. First, companies will be required to alert EU users when they are collecting data and the reason for it. “You have to be told why I’m collecting the data, basically what I’m going to do,” he says. The GDPR also stipulates that alerts for users must be expressed in ordinary, nontechnical language – not in dense columns of legalese. In addition, EU consumers will have the “right to be forgotten,” which will allow them to have their personal data removed from any company whenever they choose. No single US law regulates the use of personal data. Instead, the country relies on a web of state and federal legislation with various focuses. For example, the Health Insurance Portability and Accountability Act (HIPAA) lays out rules for how health plans and providers handle information about patients, but the law’s protections don’t extend beyond health care. read more at csmonitor.com

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Making it Happen for Home Buyers Everywhere!

More happy home buyers closing at Thompson Law Group, PLLC. Eli Miller with Encompass Real Estate Solutions did a great job as the selling agent for the buyer. #ClosingNinja  

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Thumbs Up on another Happy Closing at Thompson Law Group PLLC.

More happy home owners Closing on their sales at Thompson Law Group, PLLC. Renee Cramer Joseph with Coldwell Banker Professional Realtors did a great job as the listing agent for the sellers.#ClosingNinja

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11 small business apps to increase revenue

A business can operate better when most, if not all, of its processes are automated A business can operate better when most, if not all, of its processes are automated (that is, substituted or enhanced by machines). Automation is like having extra workers for lower pay while at the same time increasing the speed and accuracy of the processes. The business is also able to be more competitive in the market and to enhance its customer service. You can consider using these tools for various functions, such as order processing, accounting, and marketing and communication, among others. To reach your customers efficiently, have tremendous results in highly competitive markets, and measure your efforts, you can consider mobile applications marketing, which has been proven to work. The experts that offer the service will guide you accordingly so that you achieve your goals and realize the best value for each dollar you invest in it. The following are some small business apps and automation tools that will help increase your revenue: This tool gives you a view on all your projects from wherever you are working—at home, at work, or elsewhere. The type of task does not matter, as Trello will help you get organized and accomplish anything. Your team will save on office supplies and avoid the stress of having to look for a sticky note with crucial information that may have been misplaced. Also, you can easily affect changes in any ongoing work, as all you need to do is check in and complete it. Under normal circumstances, project management has to do with paperwork, files, whiteboards, and calendars. This tool, together with others like Trello, can help monitor projects and their respective details, including the people working on them, their completion date, and much more. WorkflowMax makes your life run smoothly. Slack is a great tool that helps team members to stay in touch as they work on a project. Team members can communicate without attending physical meetings, a significant advantage considering people’s tight schedules. Additionally, Slack ensures that team members’ output is tracked on the program. This app is easy to use and doesn’t have many complications. read more at besttechie.com

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You can deduct interest on HELOCs, equity mortgages under new tax law — but there are limits

The Tax Cuts and Jobs Act caused consternation for taxpayers and tax preparers because when it was signed into law in December, it was unclear whether interest in an equity line of credit or second mortgage would be deductible. It wasn’t until the Internal Revenue Service released guidance for taxpayers in February that it was confirmed that homeowners can deduct interest on HELOCs and equity mortgages, with a few caveats. Overall, there is a new limit on the deductibility of home loan interest. According to the IRS, you may deduct the interest owed on loans of up to $750,000 for married couples. That means that you can deduct interest on loans that in the aggregate do not exceed $750,000 if you are married or $375,000 if you are single. [More Real Estate Matters: If refinancing isn’t an option, your best bet may be to sell your house] If your home loan and equity loan together exceed those limits, a portion of the interest will not be deductible. In addition, the loans must be used to purchase a home or to repair or improve the property. HELOCs and second mortgages will no longer be deductible if the loan proceeds are used to pay for personal items, including college tuition, vacations, credit card debt, student loan debt, a vehicle or clothing; the interest paid on that amount will not be deductible. Finally, the HELOC, mortgage or second loan must be on a qualified residence. That usually means that the residence must be your primary residence or a second home. In a separate column, we gave an example of how the new tax law limits the amount you can deduct from your income taxes. This is commonly referred to as “state and local taxes,” or SALT. The new tax rule states that you can deduct up to $10,000 in real estate property taxes and state income taxes. This means that if your property taxes and state income taxes together exceed $10,000, you can take a deduction of only up to $10,000 on your federal tax return. Previously, you were able to deduct any amount of state tax and real estate tax you paid. These are deductions, not tax credits. A tax credit would reduce the amount of taxes paid by the amount of credit on a dollar-for-dollar basis. A deduction reduces the amount of your taxable income. So if you have a $5,000 or $10,000 deduction and your taxable income is $100,000, the IRS will tax you on $90,000 of income. Of course, nothing is simple when it comes to federal income taxes, and there are other variables that come into play. So please consult with your tax preparer for details. As an aside, the IRS released a new calculator to help employees understand whether their employers have correctly recalibrated their paychecks in light of the Tax Cuts and Jobs Act. Here’s a link to the new IRS Withholding Calculator: irs.gov/individuals/irs-withholding-calculator. Ilyce Glink is the creator of an 18-part webinar and e-book series called “The Intentional Investor: How to be wildly […]

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Thompson Law Group Does It Again

More happy home buyers closing on their home purchases at Thompson Law Group, PLLC. James Walrod with Veterans United Home Loans did a great job as the loan officer for the buyers. Maria Honeycutt with The Real Estate Group did a great job as the selling agent for the buyers. #ClosingNinja— with James Walrod and Brett B Thompson.  

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Happy Home Owners

More happy home owners Closing on their home sales at Thompson Law Group, PLLC. DeAnn Brenneman with BHHS Towne Realty did a great job as the listing agent for the seller. #ClosingNinja — with DeAnn Brenneman at Thompson Law Group, PLLC.

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