Relocating? Deducting Moving Expenses on your taxes may make your relocation a little less stressful. Here are the IRS rules to see if you qualify: If you are moving due to a change in your job or business location, or because you started a new job or business, you may be able to deduct your moving expenses. [...]
Thinking of Living for Free? New Law to Expedite Foreclosures…. By SHANNON BEHNKEN | The Tampa Tribune A controversial bill in the legislature would speed up foreclosures in Florida and remove the process from the court system. “This would have a profound and dramatic change on the foreclosure landscape,” said John Byrne, a Tampa lawyer [...]
If you purchased a home and are paying PMI (Private Mortgage Insurance) you may be able to deduct the mortgage insurance payments on your taxes! Question 1: I bought my main home in 2008 using a mortgage and I pay monthly premiums for mortgage insurance. Can I deduct these payments? Answer: In general, if you [...]
WASHINGTON, D.C. — – Homeowners stuck with tainted Chinese drywall could be eligible for big tax breaks. The Internal Revenue Service said Thursday it would consider granting a tax deduction for homeowners who can prove they have suffered “sudden, unusual and unexpected” damage because of the building material. In a market where many houses are [...]
The Worker, Homeownership, and Business Assistance Act of 2009 has established a tax credit of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April [...]