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Nov
27

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How to Deduct Private Mortgage Insurance (PMI) on Your Taxes

Category: Filing Taxes Tags: , , , ,

Have you been paying monthly private mortgage insurance (PMI) because your down payment for your home was under 20%? You can get a refund back by claiming the PMI deductions on your income tax returns.

Not making the PMI deduction is one of the top 5 mistakes homeowners usually make on their taxes. This tax … Read the rest

Jul
14

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The Home Loan Mortgage Interest Tax Deduction

Category: Filing Taxes Tags: , , , , , , , ,

The federal government motivates you to buy a house by permitting the deduction of home loan interest. Although extra standards are present, just the interest you actually pay out throughout the year is entitled to a reduction in taxes.

Should you make a past due home loan payment in the next income tax year, you … Read the rest