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Debt Consolidation in Utah

Utah MapIn a recent report from the U.S Census Bureau, it was suggested that Utah has the second fastest growing population out of all of the states in America and a flourishing economy to match. Unfortunately, this increase in population and economy doesnít mean that the residents of Utah are free from personal debt, and in fact levels of consumer debt remain as prevalent today as ever. The recession is largely to blame with the sudden and unexpected financial crisis having an ongoing and long-term affect on the majority of typical Utah households.

Statistics provided by USA Today suggest that the average personal debt in Utah is actually higher than the national average at $62,969. This is nearly $10,000 above the American norm, but the significant difference is balanced out somewhat by higher than standard household incomes. A large percentage of this figure is likely to be the mortgage and according to the same source, the median price of a home in Utah is $202, 616. Naturally, a mortgage isnít the only way in which residents of Utah borrow money and credit card debt, student loans and auto loans also play a significant part. Combining all borrowed money through debt consolidation has been a popular method of regaining control over monthly repayments since the recession and continues to be widely beneficial today.

The economy of Utah is fairly diverse with a number of varying industries contributing to the GSP and wealth of the state. Tourism is a huge industry in Utah and is particularly popular for its recreational outdoor activities. The state is home to five impressive national parks and seven national monuments, all of which have a great deal to offer tourists and local residents alike. Outdoor sports and activities are abundant throughout the year with winter sports including skiing and snowboarding and summer sports such as camping, hiking and mountain biking. Mining and farming also play essential roles in the regions economy with the bulk of agricultural income coming from livestock.

 

Why everyone needs to double check W-4 withholdings after tax reform

SALT LAKE CITY, Utah (News4Utah) The Utah State Tax Commission wants you to double check your income tax withholdings after federal changes. There's a good chance you could be paying too much or too l...

Published:  Tue, 18 Sep 2018 16:08:00 GMT



Utah County voters won't weigh in on $22 million transportation sales tax hike this year

PROVO - After the Utah Transit Authority didn't finalize an agreement by a county-imposed deadline, Utah County commissioners voted last week against placing a possible 0.25 percent sales tax hike to ...

Published:  Mon, 10 Sep 2018 04:16:00 GMT



School districts rely on legislature, property taxes to pay teacher salaries

which is funded through Utah's income tax. Theoretically, all things being equal, if a school district had 1,000 students, it would receive 1,000 WPUs, or units of funding. But some students and distr...

Published:  Wed, 05 Sep 2018 07:45:00 GMT



Senate OKs Trump choice for IRS head over Democrats' protest

Rettig faces the challenge of administering the sweeping $1.5 trillion tax law enacted by Republicans in Congress in December, which became Trump's signature legislative achievement. Senate Finance Co...

Published:  Wed, 12 Sep 2018 17:18:00 GMT



Holland & Hart expands state and local tax team in Salt Lake City

Peter Smyth has joined Holland & Hart's Salt Lake City office as an associate in the firm's Tax practice group. Peter practices in the areas of estate and wealth transfer planning, federal taxation, t...

Published:  Wed, 12 Sep 2018 13:46:00 GMT



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