IRS To Delay Tax Refunds to Millions of Homeowners Own and home and pay interest on a mortgage? All taxpayers who want to deduct their mortgage-finance charges and related real estate costs must file a lengthy itemized return, rather than the simple 1040-EZ Form that can be completed by those who take the preset standard […]
Rental Home Owners Face New Tax Reporting Burdens
If you own rental homes the federal government has made your world a bit more complicated in 2011. Buried in the Small Business Lending Fund Act that passed in 2010 there was a new provision for rental home owners. Now every time you work with a contractor that charges you over $600 you will have […]
Homebuyer Tax Credit: 950,000 Taxpayers Must Repay
Nearly 1.8 million taxpayers claimed a total of almost $12.5 billion under the popular first-time homebuyer tax credit program, but more than 950,000 taxpayers will be required to repay the credits because their homes were purchased in 2008, according to a U.S. Treasury report released recently. And many more may have to repay the credits […]
Real Estate Taxes Are Rising
The property tax burden for residential property owners has not kept up with the present slide and erosion of market values. Everyday commercial businesses are failing and have little or no assets that make up the tangible personal property taxes and real property tax base. State and local tax collectors have lost revenue due to […]
Tax Tips for Homeowners
Tax Tips for Homeowners Attention homeowners! Over a million Americans overpay their taxes by an estimated $945 million every year. Here are the top tax deductions, in no particular order, that you need to know about: Mortgage Interest. This is usually fully tax-deductible, and applies to multiple mortgages as long as it doesn’t exceed $1 […]
Your Income Tax Audit Odds
Your Income Tax Audit Odds What are the odds that you will be audited by the IRS this yea? Stacy Johnson answers that question in this report: Have questions or comments? We’d love to hear from you. Just click the “comment” link below. Don’t worry, your email address, although required to comment, will never appear […]
How to Claim the New Home Tax Credit
How to Claim the New Home Tax Credit If you benefited from the U.S. Homebuyers Tax Credit in 2009, and now want to apply it to your tax forms prior to April 15, here’s a handy step-by-step guide in doing so — easily and accurately. The primary takeaway from homebuyers who qualify for the tax […]
Homeowners: More Than Interest to Consider at Tax Time
Homeowners: More Than Interest to Consider at Tax Time Interest rates gain the most attention from mortgage borrowers, but two other expenses, points and mortgage insurance premiums, are significant, as well. And both may come into play as you fill out your tax returns this year. When you shop for a mortgage loan — which […]
Taxes: Most Common Mistakes
Taxes: Most Common Mistakes With tax time here again, here are some of the most common mistakes people make while doing their taxes. Avoid these to save yourself money, and a possible audit. Questions or comments? Use the comment link below to sound off. Your email address will never appear on this site along with […]
Taxes 2010: Do It Yourself, or Hire a Pro?
Taxes 2010: Do It Yourself, or Hire a Pro? Is hiring a tax professional any better than doing your taxes yourself? Any questions or comments about this video? Post your comment below. Your email address, although needed in order to post, will NEVER appear on this site or shared with any third party interest. We’d […]
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