Understanding Idaho Rental Lease Agreements

When people rent, sometimes they get so swept up in the thrill of having a new place to call home, that they forget to review the fine print on the documents they are signing. What they don’t realize is just how important it can be to have a good grasp on a comprehensive rental lease agreement in Idaho prior to signing on the dotted line. It isn’t just about paying the deposit and first month’s rent, after all. A rental lease agreement spells out all of the do’s and don’t’s of renting in the state of Idaho to safeguard both the tenant and the landlord. It’s essentially a contract and should be treated as such.

When done right, a rental lease agreement will ensure that the tenant has as much flexibility as possible in this crazy world we live upon while making sure that the landlord is reminded of what is okay and not okay to do. And if they do cross those boundaries, there are stipulations in place to make sure the tenant is compensated for any damages incurred.

What are some of the most common things a resolution for a bad rental lease agreement? The number one thing people complain about when it comes to leasing a property for the first time, is that their landlord or leasing office charges them silly fees for things they shouldn’t have charged them for in the first place, such as maintenance or repairs because they didn’t tell the tenant to begin with-just to name one example. Don’t let these issues happen to you by taking the time to sift through your lease agreement and make sure that the fees outlined in your agreement are fair and reasonable according to the law of the state and common sense.

It’s pretty easy to get charged for silly fees, but it doesn’t have to happen to you. If ever there is an issue, you have to ask. There are no mind readers in the landlord/tenant world unfortunately. An idaho rental lease agreement sometimes have legal specifications that aren’t present in other states. It’s important to educate yourself on these unique laws and ask about them if you have any questions.

It may seem like negotiating is a huge deal, but in the realm of leasing, it is. Oftentimes, landlords will allow you to negotiate on the deposit you have to pay and the amount you pay in utilities each month. Make sure that you ask for these changes when filling out your lease agreement. You never know what you are capable of unless you ask.

Academic research paper writers USA is a reliable service that can write you a a custom-written paper. They are highly skilled. They will finish your essay by the deadline specified and guarantee the highest Continue reading →

I know some of you have come to The Budget Socialite to find ways in which you can ‘live richly for less’, after all, that is what this blog is all about. Well I must say, keeping up with real estate prices, and knowing the heights of the housing market just how far you can stretch your budget plays a humungous role in your ability to live richly and within your means. Real estate prices and how you manage/lower your mortgage payment, and successfully maneuver through the many different types of home purchase scenarios is extremely important if you want your home to grow in value over the next 5-10 years. Learning about legal vs equitable title can make the difference between making an intelligent home purchase and doing one that will work against you financially.

While researching another topic I ran across this promoted post over at Legal v. Equitable Title in Real Property that I found to be interesting since it was something I was not too familiar with. It gave a detailed rundown on some of the different purchasing scenarios for real property that I had not considered before and made me think twice about the consequences of buying a home. I suggest you read the article if you are serious about purchasing a home because “who owns legal title to property also has power over how property owned and sold.” Knowing whether you hold legal or equitable title to your property or not will empower you greatly when it comes to making smart buying decisions.

Understanding the meaning behind legal title and equitable title along with how it can affect the money you spend is critical if you want to keep to a budget. Basically legal title is what actually registers on government records as real property ownership, whereas equitable title is what the actual grants of title and deeds provide to the purchaser of property. Legal title must be transferred if you want to officially own a property whether new or used. Equitable title is what allows the buyer to use the property as their own.

So while having legal title may mean less money up front for a home purchase, not understanding the repercussions of selling a home with equitable title could cost you much more in the long run. If a buyer holds equitable title to a property, they do not make a decision on the selling price, the seller does. And, the buyer is bound by the seller’s decisions in the sale of that property. If you don’t hold legal title to a property you cannot make decisions on the sale of that property, and must trust the seller to honestly give you what the home is worth.

The difference between legal vs equitable title is important if you are looking to purchase property to sell later on down the line for a profit. Knowing whether you hold legal or equitable title to a given property will make you much more savvy when it comes time to sell, and this can mean saving you thousands upon thousands of dollars.

For more information on property ownership, you can visit Wikipedia’s page on Property Law.

Welcome to Colorado, where you can live richly and wisely, and find luxurious adventures on the cheap! In the spirit of The Budget Socialite, I’m here to talk you through how you can make the best decisions to maximize your money while living in one of the country’s most stunning and desirable states. First of all, let’s talk about Colorado’s appeal for luxury living on a budget. From the mountains to the open plains, our state offers luxurious adventures for everyone. You can enjoy Colorado’s pristine national parks, majestic mountain ranges, and beautiful natural wildlife all from a reasonable luxury mountain cabin or condo. Those with an appreciation for fiery sunsets which are nearly impossible to look away from at night might prefer the serenity of the plains or hilly countryside. But wherever you choose to lay your head, you are sure to find luxurious opportunities on a budget. And that needs to be taken into consideration when you file your taxes. The state of Colorado, like many other states within the US, has certain rules regarding residency for state income tax. You may, or may not, be aware of these rules. These rules, in particular, are pretty straightforward, and determine whether or not you are subject to Colorado state income tax. Income tax is collected by the state, based on how much income you have earned in a given time period. Typically, the more you earn, the more you will owe in taxes. Taxable income can include wages, interest and dividends earned from bank accounts, rental markets, loans, stock dividends and more. In some states, such as Pennsylvania, income tax is calculated based on a flat rate, as opposed to the Cuomo method where high income earners undoubtedly pay higher tax rates. The benefits of being in the know about residency rules for income tax are quite simple. You are able to make informed decisions about where you live and what jobs to take. You are able to control how much tax you pay based on where you select to live and work, based on the amount of income you earn, and if you intend to spend the majority of the year in Colorado. By understanding the Colorado residency rules for income tax and tax brackets, you are able to maximize the amount of money you have on hand to spend and enjoy the Colorado lifestyle. A few tips to help you keep your residency status in Colorado under the state’s residency rules for income tax as follows: Now that you have a solid understanding of how you can keep residency status in the Centennial State, let’s talk about how tax savings can enhance your lifestyle spending power. The short answer is: it provides you with more money to spend, which makes life a whole lot better. For instance: Now that you have a better grasp of the benefits of being a Colorado resident (for the purposes of income tax, of course!) let’s talk about some of the possible pitfalls or common mistakes people make related to the residency rules. One issue I have heard of is people renting or buying homes in Colorado, and claiming tax residency without ever setting foot in the state. Unless you are Albert Einstein, this may not be a great idea, as you will have to convince the state income tax people that you were not simply trying to get out of paying taxes in your home state, it wasn’t because you left your socks there. Now that you can breathe a little easier with these Colorado residency rules in mind, it’s time to go and kind both luxury and adventure in the same breath. You can do it all in Colorado, sinfully good food, stunning landscapes, and far away national parks. The state has everything you could ever ask for, so long as you are willing to enter the adventure with a willing heart and mind, and a credit card capable of covering the expenditures for now, and a sense of humor for when things appallingly go wrong. It happens to all of us, so don’t get discouraged if things don’t go as you planned. Keep trying and persevering for adventure will come. If you are unfamiliar with the Colorado residency rules for income tax, you can read all about them here: rules regarding residency for state income tax. Hopefully, you are now shaping up to be an expert, and can help others as they try to readjust to life in the Centennial State.

It’s all about spending less than you earn when you’re young, when you’re old, and when you’re somewhere in between. The Budget Socialite is devoted to inspiring young socialites, and in this case, young socialites are those who want to begin working, legally, to earn extra income. The salary you earn can go a long way into making you even more frugal and therefore, richer. There’s no time like the present to make some money, so here’s how to get started when you’re young, but don’t yet know much about the law or balancing a budget.

So, how old do you have to be in order to begin working? Under Nevada law, the minimum working age in Nevada is:

• 12 – You can only work in non-hazardous jobs
• 14 – You can now work a complete job
• 15 – You may only work limited hours
• 16 – You may work any job with no restrictions
• 18 – You become an adult worker

The purpose for all the restrictions set forth is to protect minors from harsh labor laws. It’s important to know that you cannot work too many hours in a day, or too many days in a week. Doing so will result in serious consequences for the business for which you’re working.

The good news is that there are lots of legitimate places you can go to find work. Among your top options are fast food restaurants, grocery, convenience, and retail stores. Other opportunities involve working as a babysitter or dog-walker, or mowing lawns around your neighborhood. These jobs teach you about the responsibility of managing other’s property, plus you’re likely already familiar with all three. No one wants a neighbor kid that steals their dog or refuses to return a lawnmower unless you fork over $10. Did I mention that tip money you can receive for simply dog-sitting if the dog is already friendly?

As you can see, there’s plenty of work out there for teenagers. Don’t fall into the trap of sitting around doing nothing when you’re old enough to be out earning a little extra cash. Working is necessary to get by, and it’s fun in the process. Now you just need to learn how to balance that checkbook.

Understanding Common Law Marriage in New York State

Often times a modern lifestyle blog about frugality and living richly on a budget doesn’t blend as well as you think with legal insight, but The Budget Socialite breaks the mold. One such exploration can be found below: When it comes to understanding what constitutes a legal marriage in the United States, the answers can be quite confusing depending on where you live. For many people, interest in the subject is based around the need to be sure of whether something is legal or not and to avoid infringement on their rights. If you desire, for example, to better understand some of the finer points about what it means to enter into wedlock, you might wish to consult with specialized legal professionals.

How this can save you money in New York State

The legalities surrounding marriage and cohabitation can vary greatly from one State to the next, and you might be surprised by what some dictate and others don’t. As an example, marital law in New York State includes a prohibition on polygamy, but it does not require that you obtain a license to marry in order for your union to be recognized as having been solemnized in a legal sense. This makes common law marriage a somewhat grey area, as the State does not recognize common law marriages as being valid.

Does NY recognize common law marriage?

This leads to the first point for discussion. The Budget Socialite has discovered recently through looking into the matter of what the law says for New Yorkers when it comes to common law marriages is that this form of being joined with another person is not recognized. To put it simply, if you decided to cohabitate and live with someone without officially becoming husband and wife, the New York government does not automatically assume that you did so with the intent to become married. It does not therefore afford the two of you the benefits and privilege of being considered a lawfully wedded couple.

That means, if you wait several years to become married, for example, and decide to move in together within a year of becoming a couple, it doesn’t really matter, according to New York laws. Colloquially speaking, the two of you are simply considered to be living together, nothing more. That sounds a little bit rough for those who have chosen that route, but contrary to what you might think, there’s an upside to this situation.

As mentioned above, individual lifestyle blogs don’t always focus on the legal side of things, but what goes on with assets, children, and relationships in the event of break up or separation can be a hot topic. Perhaps there’s also an important estate to consider in the event that one of the parties should die suddenly (i.e. common-law spouse dies and leaves money to all of his/her children but common law spouse gets nothing), or perhaps there are complex tax implications. It’s ultimately best to consult a lawyer in this case, but we do suggest you also conduct valid internet research preferably with a list of credible sources. Be sure to bookmark the article for later if you missed it: comprehensive insights on common law marriage.

Yesterday I wrote about love and why the million dollar lifestyle is not so great if you have no one to share it with. It is also true that not all love has to cost millions or even thousands. You can live richly on a budget and some people have a significant other to help them do just that. But what if you and your partner live without the advantages of a conventional marriage and the associated legal benefits? Maybe you opted out for that reason or maybe you just chose to avoid the ceremony.

Georgia recognizes common law marriage, and while you still do not have a wedding ring or an official license, there are benefits to living as a couple that Georgia provides under the law. So today let’s look at Georgia Common Law Marriage: How it Works & What to Know as an interactive legal resource for you as you consider whether marriage is right for you and how to maximize its benefits.

Primarily, the search keyword does Georgia recognize common law marriage is answered with: yes! But as I stated above, you will still not have a wedding band on your finger, or a government issued certificate. So how does the law protect you when you and your partner decide to live as an unmarried couple?

Answers to this query, along with others, are covered in detail on the above linked page from Cambridge Prints. I would add that the legal benefits of common law marriage in Georgia may seem like no big deal when you’re steadily making money and enjoying your youth. But as you age, and especially after retirement, asset protection becomes essential. You want to avoid pitfalls such as gainfully supporting your spouse’s grown children, or possibly paying more than is your fair share of assets.

And if you are unsure of the benefits of common law marriage, do not go around telling your spouse. We do not want any issues with insurance payouts, debt collection, or any other legal matters. So read the article now and see why Georgia recognizes common law marriage and what that means for you and your spouse.

Living together or getting married? Exploring choices within the Florida state framework Cohabiting couples today have more options than ever, especially in Florida. But how can you figure out what works best for you? Exploring the range of relationship commitments within the Florida state framework is key to living richly on a budget. Learn how living the high life doesn’t always mean getting lawfully married. What is the legal definition of a common law union in Florida? In Florida, a common law marriage exists if you have: While common law marriage may seem like an excellent solution to loving partners without funds or time for a full-blown wedding, it’s subject to various stipulations that make it a legal option in certain circumstances only. The concept of common law marriage was immutable until relatively recently. Beginning January 1, 2016, the state of Florida officially announced the end of customary marriage for all who decide to practice this style of relationship going forward. However, couples who lived together as husband and wife prior to January 1, 2016, and who meet state requirements may still be legally married through common law status.

Exploring why legally recognizing your union is so important While you may have heard of couples living “common law” in other states, Florida is very specific when it comes to recognizing cohabitation unions in legal terms. Namely, common law marriage isn’t available to new partnerships in the sunshine state. Previously married and legally recognized common law partnerships do remain in place; however, couples previously unmarried are simply not entitled to the same benefits and protections under the law.

How does common law marriage affect your finances? In terms of financial responsibilities and growing equity as a couple, recognition of your legally defined relationship matters quite a lot. For instance, past due debt, tax or penalties may place your current earnings at risk when banks, credit organizations, and other financial institutions consider including your partner in the equation. Explore the possibilities of living a fulfilled partnership without legal marriage While living together without getting legally married offers some striking advantages – like maintaining your individual ability to file into certain tax brackets instead of being taxed as jointly-married- you may be required to file together or separately. Since you have made the choice to eschew marriage, you will need to prepare for the contingency where you achieve financial success as individuals only to find it difficult to share the wealth with your partner come tax time. Getting married will entitle you and your partner to make joint filings, potentially saving you a significant amount of money come tax time. Furthermore, the continuation of your partnership once the death of a partner occurs would legally entitle you to protection, reducing the chances of being kicked out of your own home in a worst-case scenario.

Need to celebrate in style? Here are 10 ideas! While you and your partner are not entitled to any legal recognition as a common law union, it doesn’t mean you don’t deserve to celebrate your relationship in style. In lieu of booking an expansive ballroom venue for your nuptials, consider smaller scale events that allow you to enjoy the celebration without regard to extensive financial outlay.

Legal documentation couples should consider when living in Florida While you may enjoy the freedom of living together without the commitments of traditional marriage, there are few ways to get around acknowledging a significant relationship. Here are a few important legal documents every couple should consider: More incredible weekend getaways and experiences in beautiful Florida While destinations like Orlando and Tampa are world-famous for fun times all year-round, there are other beautiful spots throughout the state to explore. Consider these ideas for a great getaway: Where to find more information on laws related to recognizing romantic relationships in Florida While it may be tempting to see living together as a potential loophole toward achieving a fulfilling yet affordable life, the reality is that there are few options available to non-married couples in Florida.

Understanding Court Settlements and Their Tax Implications

We all want to be budget savvy! We want to look good when we go out with friends, don’t we? We want our houses to look like they came from the pages of some decor magazine, don’t we? We want to have careers that impress our friends – and of course we want our bank accounts – and investments & assets – to make us feel secure and comfortable. So now we have become our own budget socialite!

We have parking enforcement’s all around us these days, so it seems that we have more and more people that are putting money towards whatever defense they can for parking tickets – or rather for the lack of appropriate parking spaces. These tickets aren’t inexpensive. We have a lot of hard working people who give up their hard earned salaries so that they paid their mortgage or rent, go out and have dinner or lunch. The problem is – they didn’t plan on being dinged by parking enforcement officers. We have learned that life isn’t always easy or fair.

One day you walk down the street to grab lunch when you see a flyer that announces an event where you can earn cash during the day, and eat for free. Who doesn’t eat for free in Europe!? If you care to load your Friday schedule with one meeting after another, bobbing and weaving through traffic and the needs of your four or five clients before heading to the venue – you can earn cash working a few hours.

An ‘event’ isn’t a ‘party’ which is why you may not get dressed up for work. An event is like a ‘court settlement’ – who would have thought we would be talking about court settlements within the confines of our lunch hour!? But here we are, conjecturing how to handle an abrupt and unplanned influx of cash into our accounts.

What is a court settlement? A settlement occurs when the plaintiff and defendant agree to resolve a dispute without further legal proceedings. A court decision is when a judge makes a decision about your case. Most court cases end up with a settlement, so that each party saves time and expense. A plaintiff is a person that applies to a court for a legal remedy. A defendant is a person that’s been accused of committing a crime or a person that’s been accused of causing harm or discomfort to the plaintiff, provided that the evidence of such actions have been backed by supporting documentation.

A court settlement is typically reached with the assistance of mediation or arbitration. Mediation is when a third party helps both sides negotiate an agreement or settlement. Arbitration is when a third party listens to both sides and makes a decision in favor of one of the party’s involved. Typically, a plaintiff would like to settle a case because it’s less likely that a jury or judge will have difficulty proving their side of the dispute and it’s less likely that the plaintiff will have to wait to receive their compensation.

So, you’re wondering whether court settlements are subject to taxes, aren’t you? Well this is where we make the connection between our discussion about court settlements and the Budget Socialite! You are a budget savvy person, aren’t you? Do you want the full amount of your settlement in your account? If the answer is yes, then you need to understand that those funds will be subject to tax.

The article by LalaSicecream outlines the possible tax consequences following an award or settlement. Typically, the legal professionals, accountant or tax advisors for the plaintiff will be able to assist you in managing the funds and ensuring the correct forms are provided in your windfall. Make sure you ask your professionals what is required.

Although the issue of whether or not a court settlement may be taxed, understanding that it may be subject to the tax man, is an important tip in your lifestyle and behaviour as the ‘Budget Socialite’.

Once you have confirmed that you will be receiving funds from a settlement then you don’t want to be hiding under a rock until you’re ready to spend those funds. You want to budget the funds to avoid, as much as possible, the inflating your lifestyle. We touched on inflation as a budget concern a few days ago, but suffice it to say that you want to avoid spending money you don’t have.

Making adjustments to your weekly or bi-weekly budget is essential. You’re not likely to put all the extra money into savings – but you can make reductions across the board. You can make a commitment to only spend 50% of the windfall for entertainment and food and 50% for your taxes and bills. You will find many ideas about budgeting for your windfall as the Budget Socialite evolves. A financial adviser is a great professional resource as you digest your good financial fortune.

Of course, if a settlement is reached, you don’t sign off on the dotted line without clear understanding of the requirements of the funds and your obligations. We can help you understand your legal obligations.