Tax Deductions on Rental Properties Landlords can deduct a big ‘bonus’ the first year Blame it on wear and tear or just the passage of time, but in the eyes of the IRS, rental proper… M&M Admin April 11, 2023
Tax Deductions on Home Equity Loans and HELOCs Acquisition debt vs. home equity debt: What’s the difference? For starters, it’s important to understand “acquisition debt” versus “home equ… M&M Admin April 11, 2023
How To Take A Home Office Tax Deduction Who can deduct a home office? We’ve got some good news and bad news. The bad news: In years past, if you worked for a company (and received a W-2) b… M&M Admin April 11, 2023
What Is Capital Gains Tax On Real Estate? Who pays capital gains tax? In a nutshell, capital gains tax is a tax levied on possessions and property—including your home—that you sell for a p… M&M Admin April 11, 2023
5 Tax Deductions To Take When Selling A Home Selling costs These deductions are allowed as long as they are directly tied to the sale of the home, and you lived in the home for at least two of th… M&M Admin April 11, 2023
Your Home Tax Deduction Checklist Mortgage interest In the past, you could deduct the interest from up to $1 million in mortgage debt (or $500,000 if you filed singly). “But for loa… M&M Admin April 11, 2023
How To Calculate Property Tax How to calculate property tax There are a number of factors that come into play when calculating property taxes, from your property’s assessed value… M&M Admin April 11, 2023
7 Tax Benefits Of Owning A Home Mortgage interest Homeowners with a mortgage that went into effect before Dec. 15, 2017, can deduct interest on loans up to $1 million. “However, f… M&M Admin April 11, 2023