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November foreclosures up 68 percent

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The number of November foreclosure filings nationwide surged 68 percent compared with the same month a year ago. Analysts from RealtyTrac say that in all, 201,950 foreclosure filings were reported last month, compared with 120,334 during November 2006. Still, last month’s filings are down 10 percent from October’s 224,451. The decline in filings from October… Continue Reading November foreclosures up 68 percent

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The rich know they’re getting richer

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Nearly 60 percent of investors with $10 million or more of investable assets believe their portfolios will grow next year, according to a PNC Wealth Management survey. Only 4 percent of the high-net worth investors expressed pessimism. However, 44 percent of investors with $500,000 or more in investable assets expressed pessimism about the national economy… Continue Reading The rich know they’re getting richer

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Money has more than face value — it has time value. Keep this in mind when paying taxes.
Mark Patterson, tax partner at Stockman Kast Ryan, said one of the main areas he considers for clients needing to accelerate deductions is the alternative minimum tax. Continue Reading Some tax advice to make ’08 a prosperous New Year

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Sales and Use Tax 101

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The City of Colorado Springs will offer a free two-hour class entitled “Introduction to Sales & Use Tax” from 9 to 11 a.m. on Jan. 9 in at the City Administration Building, 30 S. Nevada Ave. The class will offer information about taxes owed when purchasing equipment, computing taxes owed, licensing and reporting requirements and… Continue Reading Sales and Use Tax 101

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El Paso County Public Trustee resigns

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El Paso County Public Trustee Patricia Thompson has resigned. Deputy Public Trustee Wendy Habert said she could not discuss the resignation, and phone calls to Thompson’s home were not immediately returned. Habert said Adams County Public Trustee Carol Snyder will serve as interim trustee until a permanent replacement is found. Thompson was appointed by Gov.… Continue Reading El Paso County Public Trustee resigns

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Earlier this year, annual home foreclosures in the United States reached a 30-year high of 640,000, and a congressional report estimates that an additional 2 million homes will be in the process of foreclosure by the end of 2009.
That’s according to David Colgren, media relations counsel for the American Institute of Certified Professional Accountants. Continue Reading American Institute of CPA’s steps to avoid foreclosure

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U.S. foreclosures hit all-time high

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Home foreclosures jumped to an all-time high during the third quarter. A quarterly report released today from The Mortgage Bankers Association said that the percentage of mortgages nationwide jumped to a record high of 0.78 percent during the July-to-September period, beating the previous high mark of 0.65 percent from the second quarter. The delinquency rate… Continue Reading U.S. foreclosures hit all-time high

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Free webcast about IRS Form 990

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Accounting firm BKD is hosting a free webcast tomorrow to discuss proposed changes for the Internal Revenue Service’s Form 990, the annual form required to maintain tax-exempt status. Register online to attend the webcast, which is titled “Tax Topics for Exempt Organizations.”

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The El Paso County Assessor’s Office has changed the El Paso County DS056 (Regular Business) and DS060 (Lessor Business) forms for the 2008 tax year. The changes are expected to make it easier for a business owners to complete and submit the forms. Taxpayers owning more than $2,500 in total actual value of personal property… Continue Reading Assessor’s Office changes personal property declaration forms

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Compass index portends slowing economic growth

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The Compass Bank Colorado Business Leaders Confidence Index dipped from 55.6 to 47.9 for the fourth quarter of 2007.
National economic performance, along with pessimism about hiring and capital expenditures, drove the index to a record low. Continue Reading Compass index portends slowing economic growth

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