Tag Archives: real estate taxes

CCH Identifies 10 Deductions That Make It Easy to Reduce Your Taxes

Courtesy of CCH – they write some of THE best material! (RIVERWOODS, ILL., February 17, 2011) – Whether you itemize or take the standard deduction, there are plenty of above-the-line deductions that can mean even greater tax savings, according to CCH, a Wolters Kluwer business and the leading global provider of tax, accounting and audit […]

HUD 1

Today TaxMama hears from Craig in the TaxQuips Forum, who asks. “Are items on a HUD-1 (seller’s side), Lines 510-519, deductible by the seller as taxes paid on Schedule A or are they adjustments to the basis?”

Property Tax For NonItemizers

Today TaxMama hears from Sethu in the TaxQuips Forum, who is angry. “For the 2009 tax year the non-itemizers (those who used standard deduction) could add up to $1,000 to their regular standard deduction if they paid real estate taxes greater than $1,000. I do not see that provision for the tax year 2010. When […]

10 year-end tax planning tips

CHICAGO, Nov. 4, 2010 – Grant Thornton LLP wants to remind America that it’s the perfect time to consider some holiday season tax planning strategies as 2010 winds down.  “People need to be paying special attention to their year-end tax planning in 2010,” said Justin Ransome, a partner in Grant Thornton’s Washington National Tax Office. […]