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Need More Time to File Your Taxes? You Can Have It, for a Price
Taxes
As the dreaded April deadline for filing your individual tax return approaches, many of us find ourselves scrambling to find the time and energy to complete the task. Even if you hire a tax accountant to prepare your return, you still need to assemble all of the necessary documentation. If you need more time to complete your return, you can obtain an automatic six-month extension by filing IRS Form 4868 on or before the April 18 deadline. That’s right, this year’s deadline is April 18 rather th...
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Home Mortgage Interest Deductions: Are You Deducting More than You Should?
Taxes
If you think all of the interest you’ve paid on your home mortgage is deductible on your income tax return, think again. For many taxpayers, the interest home mortgage lenders report on Form 1098 is not deductible. The IRS has imposed new reporting requirements for lenders that will enable the IRS to identify taxpayers who are deducting more than they should. Only interest on up to $1 million of acquisition debt and up to $100,000 of equity debt secured by the taxpayer’s primary residence and ...
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Laura at All About Numbers did a fantastic job completing our complicated multi-state 2015 tax returns. Her high standard of ethics and clear language whenever we had questions were most admirable and appreciated. She also gave us …