This year’s income tax season is nearly at a close and many of us have already moved on to determining and tracking deductions for the 2018 tax year. Mortgage and Home Equity loan interest tax guidelines will be changing but the general public’s initial knee-jerk reaction to these adjustments was largely premature. Fortunately the bottom… Read More
Nobody wants to pay more taxes than they need to. Some of us are confident preparing our own Income Tax every year, I’m keenly aware that that’s way outside my wheelhouse. I am more than happy to tuck away enough money in the budget to retain an accountant. Maybe you opt for the EZ form,… Read More
12 Year-End Tax Tips Especially for 2017 Year end brings the craziness of holiday celebrations, the joy of family visits, the excitement of the coming new year, and looming quietly in the background… another approaching tax season. Are you a recent home buyer? Make sure you are well informed about the deductions and benefits available… Read More
I know… the relief of tax season being over has just had a chance to set in. However, if you’re a home owner or a real estate investor you know that tax season never quite leaves your consciousness. You have to be alert all year-round if you’re going to take full advantage of available tax… Read More
Tis the season. Did you know most homeowners can write off all mortgage interest up to $1.1 million for primary and secondary residences, as well as property taxes? Credits for property taxes and other tax breaks are also offered to in 21 states and the District of Columbia. But mortgage interest and property taxes are… Read More
When buying a first home, most people are making one of the biggest purchases of their lives. Without home buying experience, it can be difficult to separate fact from fiction. Get the facts on these common first-time home buying myths: Myth – It takes a 20 percent down payment to buy a home. Reality –… Read More
Dedicated Space With very few exceptions, the part of your home you use for your business must exclusively and regularly be used for the business, not personal activities. As an example, if you worked 40 hours a week in the home office but allowed your children to play video games on your home office computer,… Read More
Whether you’re buying a home, selling a home or staying right where you are, there’s a wide range of deductions you can take. Some of them are well-known, some less so, and there are a lot of twists, so it pays to review the rules. The IRS has outlined key home deductions in Publication 530…. Read More
