Is mortgage interest deductible in 2020? These homeowners have always deducted mortgage interest but their tax software is rejecting the entry this year. Q: Is mortgage interest still deductible on our federal income taxes? Is there something new that I am not aware of? Is there some reason to not have a mortgage that is [...]
What you need to consider before buying your first home later in life? From mortgage terms to tax deductions, there’s many decision to be made before buying your first home. Note: This post has been updated to reflect a correction to the amount of the 2018 State and Local Tax (SALT) deduction change in the [...]
Mythbusters: tax deductions. Yes, in certain situations you can claim your significant other as a dependent or deduct medical expenses. Whether you filed for a tax extension and have yet to file your taxes for last year, or you’re simply thinking ahead to next tax season, it’s important to know the facts about tax deductions. [...]
Get year-end tax tips for 2013 directly from tax experts as the year 2013 comes to a close. These tax tips can make a big difference in your income tax return for 2013. That’s why I brought in tax experts Bill Nemeth, Merry Brodie and Chet Burgess to discuss year-end tax tips for 2013. Our [...]
This post was written by guest blogger Eva Rosenberg. I’ve had the privilege of attending some amazing weddings in my life: a beautiful, fun evening in New Orleans right after Hurricane Katrina; a magnificent wedding at the elegant Ambassador Hotel and an expensive affair that took over the bar and all the rooms on an [...]
Looking over my projected tax return, it seems my husband and I cannot itemize our deductions. The interest rate on our mortgage is so low that we no longer have enough interest to take Schedule A over the standard deduction for married couples. I’m now looking for other options for my charitable tax deduction. Do [...]
Aah….This time of year is filled with generosity. Even curmudgeons are infected with the holiday spirit. Remember, however, that not everyone is enjoying this season’s largess. This year and last, many people’s lives have fallen apart. People who used to be your neighbors or coworkers—or even you—are now out of work, clutching at unemployment checks, [...]
