Energy-efficient improvements to your home, such as adding insulation, can make you eligible for a $1,500 tax credit. Image: Gary Ombler/Getty Images
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Wednesday, February 29, 2012
6 Home Deduction traps to Avoid
If you bought or sold a home in the middle of 2011, figuring out what to put on line 6 of your Schedule A Form is tricky.
Don’t simply enter the number from your property tax bill on line 6 as you would if you owned the house the whole year. If you bought or sold a house in midyear, you should instead use the property tax amount listed on your HUD-1 closing statement, says Phil Marti, a retired IRS official.
Here’s why: Generally, depending on the local tax cycle, either the seller gives the buyer money to pay the taxes when they come due or, if the seller has already paid taxes, the buyer reimburses the seller at closing. Those taxes are deductible that year, but won’t be reflected on your property tax bill.
Read more tips:
Don’t simply enter the number from your property tax bill on line 6 as you would if you owned the house the whole year. If you bought or sold a house in midyear, you should instead use the property tax amount listed on your HUD-1 closing statement, says Phil Marti, a retired IRS official.
Here’s why: Generally, depending on the local tax cycle, either the seller gives the buyer money to pay the taxes when they come due or, if the seller has already paid taxes, the buyer reimburses the seller at closing. Those taxes are deductible that year, but won’t be reflected on your property tax bill.
Read more tips:
Monday, February 13, 2012
Saturday, January 7, 2012
Saturday, December 31, 2011
Friday, December 23, 2011
Tuesday, December 13, 2011
Monday, November 28, 2011
Friday, October 7, 2011
Gary Vaynerchuk - "The Thank You Economy"
Great speaker, inspiring, powerful and so energetic! Building your business how-to's and incorporating social media all the way. Saw him today in Boston for a ReMax sponsored and Crush it for a cure; Susan B. Komen event. www.garyvaynerchuk.com
Thursday, October 6, 2011
Chris Garner at our RE/MAX convention in Rhode Island MA
Chris Garner spoke at our RE/MAX convention yesterday about the road to success and life lessons; he speaks so well, is funny, insightful and inspirational. Chris Gardner is the man whom was portrayed by Will Smith in the movie The Pursuit of Happyness. Read more about him:
Tuesday, October 4, 2011
Swampscott Flooded.....Humphrey Street partially closed off
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| From my back window |
But these poor people who have businesses and basements flooded. And, below, these three cars stuck that tried to drive down the street!
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| Three cars stuck |
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| Outside my front window the sea is calm. |
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