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- Higher Taxes for the Mass Affluent
- A multitude of recent and proposed law changes aim to raise the taxes of people like you. Here are a few key steps that could help you head off these impending tax hikes. ...
- Articles 2009-05-04
Additional Resources
- Home remedies: helping your clients relieve mortgage interest deduction headaches
- The tax provisions governing the deductibility of mortgage interest have become increasingly complex. A number of traps exist for the unwary homeowner.A recent IRS Revenue Procedure (94-27) clarifies when the payment of points in connection with the acquisition of a principal residence may be deducted for tax purposes. The ruling...
- Research articles 1995-02-01
- Should You Prepay Your Mortgage?
- For some people, paying off a mortgage early is a bad financial move. Answer these six questions to see if prepaying makes sense for you. Determining whether it’s wise for you means weighing variables including your mortgage rate, tax bracket, age, other debts, and even your outlook for the...
- Articles 2009-10-02
- Which Is Better: 15- Or 30- Year Loan Term?
- This calculator calculates monthly payments for two fixed-rate mortgage loans and helps you determine which loan is the better deal. Monthly savings that you realize from different payment amounts are invested at a savings interest rate that you designate. A shorter loan term generates less mortgage interest, reducing your mortgage...
- Tools & templates 2008-01-01
- The Home-Office Tax Deduction
- You may be able to take a tax deduction for business use of your home. The deduction is available not only for an office but for other business uses as well, such as a workshop or studio at home. Basically, if you use part of your home for business...
- Research articles 2004-09-15
- Redefining the home-office deduction
- The home-office deduction has been around for more than 20 years, but home-based-business owners and the Internal Revenue Service have yet to see eye to eye on what constitutes a tax-deductible home office. Little wonder. It's more complicated than it initially appears. It is not just one deduction...
- Research articles 1997-09-01
- Mortgage Tax Deduction Calculator
- One of the nice things about a mortgage is that the interest charges are deductible from your federal income taxes. If you want to know just how much you can deduct, then try this tool. It provides you with the total interest charges / tax deductions over the life of...
- Tools & templates 2008-01-01
- Determine Your Tax Savings Due To Deduction
- This tool calculates the tax savings due to deduction on your mortgage interest and property tax payments.
- Tools & templates 2008-01-01
- The Housing Ladder, Taxation, and Borrowing Constraints
- Using a multi-tier model of the housing market, this paper shows that both starters and movers benefit from mortgage interest deduction for higher income groups. However, such tax favoring also tends to facilitate house price explosions, especially when interest rates and down-payment ratios are low. More in general, the efficiency...
- White papers 2003-06-05
- The Rise and Fall of Housing's Favored Investment Status
- "This article surveys and interprets a wide body of literature on the taxation and subsidization of investment in owner-occupied and rental housing, as well as the impact of and rationale for favorable treatment. We find a broad increase in housing's favored status during the 1970s, a reversal in the 1980s,...
- White papers 2003-01-01
- Newsweek Poll: Bush's Next Campaign
- Memo to George W. Bush. The good news, Mr. President: the American people are with you today on Social Security; it's in crisis and needs to be fixed. The bad news, Mr. President: move in any one direction to fix the system and you'll lose the backing of at least...
- Research articles 2005-02-05
- The Home Office Tax Deduction
- When you use part of your home for business, you may be able to deduct expenses for what the IRS calls the "business use of your home." If you meet the technical requirements of the tax law, you should be able to deduct a percentage of many of the costs...
- Research articles 2006-11-30
- The Squeeze on Jumbo Mortgages
- While home loans in general have responded well to the Federal Reserve's efforts to lower interest rates, that's not true of the plus-sized loans the industry calls jumbo mortgages. That's because the secondary market for jumbos has been largely wiped out by the crisis. As a result, if you are...
- Articles 2009-05-04
- What Tax Deductions Do I Get As a Homeowner?
- Dear Ali: Thanks for the info on vacation home taxes, but I own just the one regular old home. Do I get tax deductions, or are those reserved for Richie Riches? A: If you own your own home, the property taxes that you...
- Blog posts 2009-04-10
- Taxpayer overpayments.
- Over a million filers overpaid IRS by using the standard deduction instead of itemizing, according to a new General Accounting Office report. Investigators checked mortgage interest and state income tax data on 1098s and W-2 forms for taxpayers who t Over a million filers overpaid IRS...
- Research articles 2002-05-10
- What Tax Deductions Can I Take on My Vacation Condo?
- Dear Ali: My wife and I have a vacation home in Florida that we rented out for part last year. Are there tax deductions that we can take against the income? A: Ah, taxes! Welcome to the wonderful world of Schedule E, used to...
- Blog posts 2009-04-09
- Providence Journal, R.I., MoneyLine Column.
- By Neil Downing, Providence Journal, R.I. Knight Ridder/Tribune Business News Dec. 22--DEDUCTING MORTGAGE INTEREST IS A MATTER OF DETAILS: If you have a residential mortgage loan on your home, how much of the interest can you claim as a deduction on your...
- Research articles 2003-12-22
- Mortgage Fees and Points: Did You Pay Too Much?
- A "Point" is one percent of the loan amount, and a "Discount point" is tax deductible because it's a form of prepaid interest. A person pays a point or two upfront and get a lower interest rate in exchange. Instead of paying the interest over a longer period, the person...
- White papers 2006-05-05
- Which Mortgage Is Better For Me?
- This tool will help you compare the total cost of any two or three mortgages. This analysis includes the effect of a tax deduction for interest. If the interest is not deductible, or if you do not want to show the effect of the tax deduction, choose an income tax...
- Tools & templates 2008-01-01
- Which Is The Best Home Loan Or Mortgage For Me?
- This tool will help you compare the total cost of any two or three mortgages. This analysis includes the effect of a tax deduction for interest. If the interest is not deductible, or if you do not want to show the effect of the tax deduction, choose an income tax...
- Tools & templates 2008-01-01
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