Today TaxMama hears from Seth in the TaxQuips Forum, with this question.https://jaymorrisonacademy.com/wp-content/languages/new/scholarship-essay-help.html “In order to qualify for my mortgage in 2009, I needed to put down 20% of the purchase price of my house.buy clomiphene Canada http://healthinschools.org/wp-content/languages/new/canada/clomiphene.html no prescription I only had 5% to put down. Therefore, I got another loan to cover the […]
Category Archives: Interest Expense
Today TaxMama hears from Brad in Jacksonville, NC , who says, “I’ve been considering purchasing a (self-contained) motorhome/fifth wheel RV for use as lodging/office to use on my business travels. Can I write it off?”
Today TaxMama hears from Taylor in the TaxQuips Forum, with a common dilemma. “My clients just moved back from Australia. They don’t have any credit established in USA. I recommended that Mom purchase the home with the mortgage loan will be in her name only. She can add the kids to the title. The kids […]
Today TaxMama hears from George in the TaxQuips Forum, with an interesting question. George asks, “Has there been any further guidance on the IRS Memo # 200911007 (dated 11/24/2008; released 3/13/2009) relative to applying the $1 million limit per property as opposed to per taxpayer with respect to mortgage interest deductions? This become a big […]
Today TaxMama wants to talk to you about a two IRS interest rates that are important for you to understand.
Today TaxMama hears from Christie who is facing an IRS audit. She says, “The IRS is saying I owe tons of money due to me not proving that my mortgage expense on my interest-only loan for the house I live in was indeed an interest expense. They say I have not proved that I paid […]
Today TaxMama hears from Al Tompkins at Poynter.org . Al says, “I generally don’t get too excited about little movements in interest or mortgage rates, but they are moving into record-low territory. It could truly be worth considering refinancing if you are going to stay in your home awhile.”
Today TaxMama hears from Heidi in California, with a common misunderstanding. “I know I can report student loan interest paid, but I’m wondering if I qualify for the tuition and fees deduction if I officially ended school in 2008, graduated in Jan.buy nolvadex online nouvita.co.uk/wp-content/languages/new/uk/nolvadex.html no prescription of 2009, and made payments for all of […]
Today TaxMama hears from Joe in the TaxQuips Forum with this question. “How do you calculate the penalty and interest when amending a tax return? I was told by a local chain that does taxes, that only the IRS can calculate these.buy doxycycline uk https://blackmenheal.org/wp-content/languages/new/uk/doxycycline.html no prescription https://mannadew.co.uk/wp-content/languages/new/finasteride.html ” https://taxmama.wpengine.com/forum/taxquips/penalties-and-interest/
Today TaxMama hears from Susan in the TaxQuips Forum, who tells us. “I have more rental expenses than income, so there’s a loss of $20,000. But I can’t use it to offset any of our income. Can I take the property tax and the mortgage interest that were on my rental house and add it to […]
Today TaxMama hears from Stephanie from Minnesota, who tells us.https://www.calmandgentledentalcare.co.uk/wp-content/languages/new/flexeril.html “My husband and I own two homes.buy black cialis generic https://yourcialisrx.com/black_cialis.html over the counter My sister is currently renting our first home from us and we live in the 2nd home. Can we claim both homes’ interest on our taxes?buy cialis generic https://yourcialisrx.com over […]