All Posts Tagged With: "deductions"
April 15th: The Right Way To Figure Taxes
With April 15 now upon us a question lingers: Isn’t there a better way to deal with this annual effort to find receipts, stubs and numbers that balance?
My interest in taxes is both economic and genetic. My late father was a CPA for more than 60 years and at age 90 or thereabouts was renowned [...]
How To Read The HUD-1
Starting January 1st, 2010, all real estate transactions will be settled using a new HUD-1. The HUD-1 is a standardized form which allows real estate buyers and sellers to clearly understand the costs of their transaction.
The original HUD-1 was developed as a by-product of the Real Estate Settlement and Procedures Act of 1974 — or, [...]
Mortgage Points And Tax Deductions
Points — or loan discount fees — are deductible in the year paid for financing used to acquire a personal residence.
Points paid to refinance a home must be paid out over the loan term. Example: if you refinance, get a 15-year, $100,000 loan and pay a point, $1,000, at closing, then you would deduct 1/15th [...]
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