Latest News
College Tuition Deduction
Is college tuition a tax deduction ?
IRA VS Roth
Ira vs Roth, which is better? One is deductible and one is not, but can affect taxability of future income.
Mortgage Deductions
If I have a home office, can I deduct rent or any other expenses ?
Did you know there is a maximum mortgage liability that affects amount you can deduct for mortgage interest.
Buying A Second Home
I bought a new home, what is deductible ? You are allowed to deduct qualified mortgage interest on a primary residence and a second vacation home. One restriction is the total mortgage liability for both homes cannot exceed $750,000. Rental property mortgage debt does not apply to this limitation.
Non Filing Return 3 YR Limit
Did you know if you do not file your return within 3 years of due date the irs will keep your tax refund.