This month the US House of Representatives passed the vote to continue the Mortgage Debt Forgiveness Act for all home owners whom were involved in a short sale for 2014. In 2007 the Mortgage Debt Relief Act was initiated basically meaning that homeowners whom have suffered financial hardships and had to short sell their homes cannot… [Read More]
TAX HELP – What if you make a profit on your home and haven’t lived there for two years?
Tax implications can be a determinate factor in deciding whether or not to put your home up for sale in this crazy real estate market. This article touches on the possibilities, and there were a great deal of things that I learned from it as well. It is always best to speak with your accountant… [Read More]
9 Easy Mistakes Homeowners Make on Their Taxes
As you calculate your tax returns, consider each home tax deduction and credit you are — and are not — entitled to. Running afoul of any of these nine home-related tax mistakes — which tax pros say are especially common — can cost you money or draw the IRS to your doorstep. Click here for… [Read More]
8 Tax Breaks That Homeowners Shouldn’t Miss
It's been said that nothing in this world is certain except death and taxes. Well, if you're a homeowner, provisions from Uncle Sam add annual tax deductions and credits to that short list of sure things. The April 15 filing deadline is fast approaching, so dig up your documentation to itemize the expenditures we've outlined… [Read More]
What You Should Know About Your Home and Your 2013 Taxes
It’s the last year for three sweet home tax benefits, but the first for a way simpler home office deduction. These days few things start a fight on Capitol Hill faster than taxes. Despite the fact that three important tax benefits used by millions of American homeowners are days from expiring, Congress is unlikely to… [Read More]