When you file your taxes, you may be able to claim a tax deduction. A tax deduction allows you to save money on your taxes. Current tax deductions include mortgage interest paid and student loan interest paid. Including tax deductions on your tax return may lower your tax bill. Consult a tax preparer, accountant or enrolled agent to know for sure.
Real Estate News From The Mailbag: Aug 1996
News from the mailbag about real estate, Bob Dole's proposed tax cut, home ownership rates, home warranty, and more.
Consider Interest Rates and More When Refinancing
It's important to look at interest rates when you're thinking about refinancing your home mortgage loan. But there's more to deciding whether to refinance than just interest rates. When you're trying to decide whether to refinance your mortgage you need to think about how long you will stay in the home and whether you can recover closing costs. You should also look at whether there's a prepayment penalty for your old mortgage loan.
Taking A Home Office Deduction
Second in a two-part series about how to figure out if the home office deduction is worthwhile. This week we'll look at how to calculate your deduction and decide if the trouble of taking it is worthwhile. See last week's column where we discussed who is eligible for a home office deduction.
Eligibility For A Home Office Deduction
First in a two-part series about how to figure out if the home office deduction is worthwhile. This week, we'll explore who is eligible for a home office deduction. Next week we'll look at how to calculate your deduction and decide if the trouble of taking it is worthwhile.