Home Ownership Tax Deductions
You know that you can get an income tax deduction on the mortgage interest you pay. But there are other tax deductions you can take on your principal residence or second home -- such as property taxes. Read more…
Deducting Health Insurance Premiums If You're Self-Employed
Most self-employed taxpayers can deduct health insurance premiums, including age-based premiums for long-term care coverage. Write-offs are available whether or not you itemize, if you meet the requirements. Read more…
Tax Deductions for Rental Property Depreciation
When you rent property to others, you must report the rent as income on your taxes. But you can deduct, or subtract, your rental expenses—the money you spent in your role as the person renting out the property—from that rental income, reducing your tax obligation. Many expenses can be deducted in the year you spend the money, but depreciation is different. Read more…
Mortgage Refinance Tax Deductions
When refinancing a mortgage to get a lower interest rate or obtain more favorable loan terms, you're really just taking out a new loan and using the money to pay off your existing home loan. In general, the same tax deductions are available when you're refinancing a mortgage as when you're taking out a mortgage to buy a home. Read more…
Property Management Tax Deductions
Becoming a residential landlord or owning a commercial property comes with new tax responsibilities. Learn about property management tax deductions and how to handle your new tax situation. Read more…
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