In addition to things like building equity and making improvements without fearing a ding to your security deposit, homeownership comes with some unique tax benefits. The biggest perk? As a homeowner, you have the option to take an itemized deduction that subtracts mortgage interest from your taxable income — lowering the amount of taxes you … Read more
For a few hours on one day every year, I enter the pit of despair à la “The Princess Bride.” Except instead of succumbing to a fictional life-sucking machine, I log onto a real IRS-approved website and file my taxes. Nobody likes doing their taxes, I know, but I fear I have an unhealthy hatred … Read more
Buying a house is a big investment. It can come with lots of hidden expenses, too, like repairs you didn’t know you’d have to make, higher utility costs, and even homeowner or neighborhood association fees. To soften the blow, you can save some money on your taxes after you buy a home. If you bought … Read more
Ah, spring. The fresh flowers, the end of blizzards and digging your car out of the snow, and… the arrival of tax season. For many people, it’s a welcome arrival: a reminder that a refund is coming. But for the rest, you might owe Uncle Sam a hefty chunk of dough. If you’re stressing over … Read more