VIDEO: Unable to Keep Up with Your Home Mortgage Payments?
If you are receiving temporary home mortgage relief under the CARES Act or in danger of having your home repossessed, know that any debt relief can have an impact on your taxes. Watch this video to find out more.
Deducting Convention Expenses
On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided […]
What Are the Tax Advantages of Home Ownership?
Article Highlights: Historically Low Interest Rates Purchase Costs Points Mortgage Payments Refinancing Property Taxes Inflation Gain Exclusion Renting Versus Owning Worksheet to Analyze Costs Housing is a big expense for everyone. The choice generally involves either renting or purchasing – and financing that purchase with a home loan. As of November 2020, the nationwide average […]
Elusive Employee Business Expense Tax Deduction
On December 22, 2017, The Tax Cuts and Jobs Act was signed into law. The information in this article predates the tax reform legislation and may not apply to tax returns starting in the 2018 tax year. You may wish to speak to your tax advisor about the latest tax law. This publication is provided […]
Video: Tax Advantages of Home Ownership
Are you planning to buy your first home, upgrade from your existing one, or refinance your mortgage? Let’s take a look at some tax advantages and drawbacks of homeownership.
Video tips: Different Tax Treatments for House Flippers
Planning on flipping houses? Make sure to learn about the tax treatments of dealers, investors, and homeowners. Check out this helpful video for a quick summary of what you should know.
Tax Rules for Home Flippers
Article Highlights: Definition of Flipping Government Will Share in the Profits Tax Treatment Depends on Being a Dealer, Investor or Homeowner Distinguishing a Dealer from an Investor With mortgage interest rates low, flipping real estate appears to be on the rise. This activity is even the theme of several popular reality TV shows. House flipping […]
Contemplating Refinancing Your Home Mortgage? Things You Should Consider
Article Highlights: Is It Appropriate to Refinance Your Home Loan? Refinance Costs Interest Rates Credit Score Borrowing Additional Cash Mortgage Limit Loan Term State Treatment Itemizing Deductions With home mortgage rates at historic lows, it may be appropriate for you to consider refinancing your current mortgage. However, refinancing may not always be the greatest idea, […]
Tax Treatment of Reverse Mortgages
Article Highlights: Reverse Mortgages Reverse Mortgage Terms Who Deducts the Interest? When Is the Interest Deductible? Home Equity Loan and Reverse Mortgage Issues Compared With inflation on the rise and medical care costs escalating, what options do seniors have for keeping up, especially if they have a mortgage on their home and their retirement income […]
Costs for Installing Medically-Related Home Improvements Have Tax Benefits
Article Highlights Aging Population Home Improvements for Medical Care or Treatment Improvements That Increase the Home’s Value Improvements That Do Not Increase the Home’s Value Medical AGI Limitations According to the Social Security Administration, 10,000 baby boomers a day are reaching the age of 65, as of 2018 16% of Americans were age 65 or […]