mortgage interest

mortgage interest

Home is Where the Tax Breaks Might Be

If you own a home, the interest you pay on your home mortgage may provide a tax break. However, many people believe that any interest paid on their home mortgage loans and home equity loans is deductible. Unfortunately, that’s not true. First, keep in mind that you must itemize deductions in order to take advantage…

Read More
home office deductions

Do You Run Your Business from Home? You Might be Eligible for Home Office Deductions

If you’re self-employed and work out of an office in your home, you may be entitled to home office deductions. However, you must satisfy strict rules. If you qualify, you can deduct the “direct expenses” of the home office. This includes the costs of painting or repairing the home office and depreciation deductions for furniture…

Read More
tax deductions

Some of Your Deductions May be Smaller (or Nonexistent) When You File Your 2018 Tax Return

While the Tax Cuts and Jobs Act (TCJA) reduces most income tax rates and expands some tax breaks, it limits or eliminates several itemized deductions that have been valuable to many individual taxpayers. Here are five deductions you may see shrink or disappear when you file your 2018 income tax return: 1. State and local…

Read More
vacation home tax planning

Relax, But Don’t Forget About Taxes: Owning a Vacation Home Requires Tax Planning

A vacation home can be many things to different people. For example, it can be a relaxing refuge for friends and family, or the property can serve as an income-producing investment if you choose to rent it out when you’re not using it. However you plan to use your vacation home, it pays to understand…

Read More

Ready to talk to one of our specialists?

Our specialists are all seasoned professionals who have years of experience working within your industry. Reach out to us today to schedule a consultation.