Every year the IRS must adjust the dollar amounts of a variety of provisions which affect every taxpayer, to keep pace with inflation. New dollar amounts affecting 2012 returns, filed by most taxpayers in early 2013 include the following:
Every year the IRS must adjust the dollar amounts of a variety of provisions which affect every taxpayer, to keep pace with inflation. New dollar amounts affecting 2012 returns, filed by most taxpayers in early 2013 include the following:
Mortgage Interest—Many taxpayers can deduct their mortgage interest on their residence. However, there is a limitation on this. The interest on a primary residence can only be deducted on up to $1,000,000 mortgage and $100,000 line of credit. Points paid…
The State of Connecticut Budget proposal includes a conveyance tax on buyers of real estate. The tax imposed would be 1% of the purchase price on homes purchased above $150,000. Here are 3 reasons this proposal should not be…
What direction do you think interest rates are headed in? Homeowners have ridden the variable interest rate mortgage ride for all it’s worth. The prime rate hit 20% in 1980. Since then interest rates have been in a long and…
The home office deduction is a confusing topic for many taxpayers. Can I only take it if I am self-employed? What if you’re not self-employed, but work at home frequently? And isn’t it true that the IRS is more likely…