3 results for tag: Mortgage Deductions
Deducting Mortgage Interest When Your Name Is Not on the Deed
Tax law has an amazing break for unconventional homeowners.
You can deduct your mortgage interest payments even when the deed to the house and the mortgage are in someone else’s name.
Here’s what happened to Sue Davis.
Sue could not personally qualify for a home loan. Her parents stepped in to help. They bought the house and signed the mortgage.
But Sue lives in the home and pays all the expenses of the property, including the property taxes and the mortgage.
Using a little-known tax rule, Sue deducts the mortgage interest payments she makes on her Form 1040.
What’s even more interesting is that Sue found out about this ...
2021 Last-Minute Year-End Tax Strategies for Marriage, Kids, and Family
Parts of this article are published with permission from Bradford Tax Institute, © 2021 Daniel Morris, Morris + D’Angelo
If you have children under the age of 18 and you file your business tax return as a proprietorship or partnership, you can find big savings in the work your children do for your business.
And if you operate as a corporation, don’t neglect to hire your children; there are good savings for you there, too.
In this article, you will find five year-end tax-deduction strategies that apply if you are getting married or divorced, have children who did or could work in your business, and/or have situations where you give ...
2020 Last-Minute Year-End Tax Strategies for Marriage, Kids, and Family
If you have children under the age of 18 and you file your business tax return as a proprietorship or partnership, you can find big savings in the work your children do for your business.
And if you operate as a corporation, don't neglect to hire your children; there are good savings for you there, too.
Here you will discover five Year-End Tax-Deduction Strategies that apply if you are getting married or divorced, have children who did or could work in your business, and/or have situations where you give money to relatives and friends. It is important to get lawyer's help for families that are seeking for divorce
1. Put Your Children on Your ...