Tag Archives: taxes

Back to Basics: What Property Expenses are Deductible?

What Property Expenses are Deductible

This week, I wanted to take a closer look at real estate tax questions that begin with the phrase, “Can I deduct,” and then mention the cost of fixing or upgrading something in the house. Sometimes the writer mentions that ...

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The End of Mortgage Debt Forgiveness?

End of Mortgage Debt

The good news in the housing market is that foreclosure starts are at a 95-month low, according to RealtyTrac, the nation’s leading collector and aggregator of foreclosure data. The bad news, at least for distressed homeowners who will need to ...

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Homebuyer Tax Deductions: The Ten Commandments

Homebuyer Tax Deductions: The Ten Commandments

It’s human nature to want to amass as many tax deductions as you can when you purchase a home. Many taxpayers, though, are too aggressive, confusing personal property and investment property tax rules. They wind up trying to take deductions ...

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Prominent Senator Takes Aim at Section 1031 Like-Kind Exchanges

Senator Takes Aim at 1031 Like-Kind Exchanges

A prominent Senator, Max Baucus (D-Montana), has unveiled a draft proposal that would sharply reduce or eliminate a number of tax breaks currently enjoyed by real estate investors. Specifically, the draft proposal would eliminate Section 1031 “like-kind” exchanges. It would ...

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