What is a mortgage interest deduction?Buying a home is a proven way to build wealth; you will accumulate equity as you pay off the loan, and the home's value increases.But there...
Posted by International Tax Consultants, LLC on 01/20/2021
Everyone dreams of owning a home, especially if they’ve got a family. This explains why a mortgage is the most significant financial transaction most people undergo in their...
Come tax season, your ultimate goal when it comes to filing your return is to maximize your tax savings. There are several ways to do this both throughout the year with investment...
For everyone buying a home via financing, the mortgage interest rate has a huge impact. Mortgage borrowers, however, are interested in the lowest rate possible. Yet, money lenders...
Many taxpayers do not like taking the home office deduction because they fear they might raise some eyebrow from the IRS. Sadly, this is true, especially if you take excessively large...
Form 8396 is an IRS form used by homeowners to apply for a mortgage. The purpose of the mortgage is to help low-income taxpayers pay for their housing. You can only apply for a credit...
Form 1098 is a form you are required to file with the Internal Revenue Service (IRS) that explains the measure of interest and related costs paid on a mortgage in a tax year. These...
Posted by LLOYD J CAZES CPA on 08/26/2019
Financial planning should not be difficult. It is basically a plan to save for your retirement, education of your children or buying a house. You should clarify your goals and set...