Infographic: Tax refund a small windfall or a financial mistake?

The average refund taxpayers will get this year is $3,000, the IRS says. That can be a mortgage payment, a nice vacation, or the end of a nagging debt. It’s also an interest-free loan to Uncle Sam. There’s are much better ways to manage that money.

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IRS offering simplified home office deduction for 3.4 million taxpayers

Beginning with the 2013 tax return, taxpayers with a home-based business taking the home office deduction will get a simplified option to figure the deduction. The Internal Revenue Service


California Realtors push for state-level mortgage debt forgiveness tax relief

The California Association of Realtors (CAR) is lobbying to reinstall California's expired mortgage debt forgiveness tax relief, which expired Dec. 31, 2012, along with the federal version. A 12th-hour


What are the financial implications of transferring home ownership?

Q: "Hi Robert. My parents would like to transfer ownership of their home to either me or one of my siblings. They've asked me to look into this.


Congress passes fiscal cliff bill with mortgage debt forgiveness tax relief, home-related tax benefits intact

The U.S House of Representatives followed the U.S. Senate vote, passing the fiscal cliff bill as drafted by the Senate. The House voted 256 for, 166 against the


Senate fiscal cliff bill retains mortgage cancellation relief, home-related tax benefits; House stalls for spending cuts

NATIONAL ASSOCIATION OF REALTORS - Tax rates would remain the same for most households and mortgage cancellation relief is extended in a budget package passed by the U.S.


Is home buying a safe 2013 investment?

Q: I was wondering what your thoughts were in regards to buying a home today. What is your outlook for the housing market? We have seen prices jump


Your mortgage as a tax shelter

Your home is likely your largest investment you'll ever acquire. Knowing exactly what you're paying for it is mandatory. Unfortunately, when people map out the life of their mortgage, they


Congress to consider extending Mortgage Debt Relief Act, renewing mortgage insurance tax deduction

When U.S. Congress reconvenes today on Capital Hill, the Mortgage Debt Relief Act (MDRA) of 2007 will be on the docket for a shot at an extension through


Site to See | Infographic: When is walking away from your mortgage right for you?

Strategic defaults are on the rise. They occur when the homeowner decides, for whatever reason, enough is enough and they stop paying their mortgage - even though they can


The ‘Buffett Rule’ explained

THE WHITE HOUSE - Under the current U.S. tax system, a number of millionaires pay a smaller percentage of their income in taxes than a significant proportion of


Original income tax return displays historic role of real estate as economic cornerstone

With conspicuous inclusion of real property on the income and tax deductions pages, the original 1913 Internal Revenue Bureau (IRB) Form 1040 reveals real estate's historic and prominent


Invest in Leap Year’s extra day

NATIONAL FOUNDATION FOR CREDIT COUNSELING (NFCC) - Advice to invest that once-every-four-years-extra-day in getting your financial house in order is another classic "why-didn't-I-think-of-that" moment from a credit


Obama budget proposes Mortgage Debt Relief Act extension

The Mortgage Debt Relief Act (MDRA) of 2007 is getting a vote of confidence from the Obama Administration. And that could save you tens of thousands of dollars. (Update: "Congress


Short sale, foreclosure, other debt forgiveness beyond 2012 could cost you tens of thousands of dollars

It may not be the end of the world, but in 2012, when the Mortgage Debt Relief Act (MDRA) of 2007 expires, it will end one of the

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