Ask a CPA

In the current year, you may exclude up to $92,900 of foreign earned income. The exclusion is an election and claimed on IRS Form 2555. Speak to your local CPA about the taxability and filing requirements with foreign earnings.

A loan that exceeds the conventional loan limit or does not conform to the guidelines established by Freddie Mac or Fannie Mae is called a Jumbo loan. Generally, these loan amounts can go up to three million dollars. Loan to value limits for Jumbo loans range from 60 percent to 95 percent, depending on the loan amount.

Some banks use a 33%/38% ratio guideline. According to this guideline your monthly mortgage payment including principal, interest, taxes and insurance should not be more than 33% of your gross monthly income. Also your total monthly debt payments including the mortgage, credit card payments and installment loans should not exceed 38% of your gross monthly income.

You may contact one of the three major credit bureaus.
Their names are Tran Union Corp, at PO Box 390, Springfield PA 19064-0390 1-800-916-8800. Experian (formally TRW) at PO Box 9530, Allen TX 75013-2104. Equifax at PO Box 105873 Atlanta GA 30348 1-800-685-1111.
Speak to your local CPA if you need assistance obtaining a copy of your credit report.

Closing costs are one time fees associated with a mortgage. Generally, the amounts vary from 3-7% of the total mortgage amount. Closing costs may include attorney fees, title insurance and related charges, mortgage tax, recording filing fees, tax service fees. Other payments at the closing may include Real Estate tax escrows, homeowner's insurance escrows, origination points, private mortgage insurance fees. You should receive a estimated closing costs document from the bank prior to the actual closing.

Dividends are paid in U.S. dollars and are generally taxable, similar to dividends paid on U.S. shares. Generally, taxes are withheld by the American Depositary Receipt company's local government. Usually, foreign taxes paid can be used to calculate a credit against U.S. taxes on IRS Form 1116 or Schedule A. Speak to your local CPA or bank about investments in American Depositary Receipts.

A bond rating ia a measure of the quality and safety of a bond based on the issuer's financial condition. It is an evaluation from a bond rating service indicating the likelihood that a debt issuer will be able to meet scheduled interest and principal repayments. Generally, AAA is highest or best, and D is lowest or worst.

A credit rating is a published ranking based on detailed financial analysis by a credit bureau. It includes a person or entity's financial history as it relates to its ability to meet debt obligations. The highest or best rating is usually AAA, and the lowest or worst rating is a D. Banks use this information to decide whether to approve a loan or not. A published ranking, based on detailed financial analysis by a credit bureau, of one's financial history, specifically as it relates to one's ability to meet debt obligations. The highest rating is usually AAA, and the lowest is D. Lenders use this information to decide whether to approve a loan

A actuarial evaluation is a life expectancy calculation by a professional actuary. A actuary is a specialist in the mathematics of risk as it relates to insurance and annuity rates and insurance calculations such as premiums, dividends and reserves.

A American Depositary Share (ADS) is a share issued under an American Depositary Receipt agreement which is actually traded.