Monthly Archives: February 2013

The Sky Is Not Falling – 6 Home Deduction Traps and How to Avoid Them

Posted on February 13, 2013 by Tom & Dee Cryer

Get an “A” on your Schedule A Form: Dodge these tax deduction pitfalls to save time, money, and an IRS investigation. Trap #1: Line 6 – real estate taxes Your monthly mortgage payment often includes money for a tax escrow, from … Continue reading →

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It’s Your Castle, but Here’s What You Can and Can’t Deduct When You Work From Home

Posted on February 11, 2013 by Tom & Dee Cryer

Working from home can offer many advantages including tax deductions. Just take care what you try to write off for your home office on your return. Passing the IRS litmus test To meet IRS guidelines, your home office must be your … Continue reading →

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The 1-2-3 How to Deduct Your Mortgage Interest & Equity Loan Costs

Posted on February 9, 2013 by Tom & Dee Cryer

Deducting mortgage interest, as well as interest on home equity loans and HELOCs, can save money on taxes.  Know your loan limits A good place to check out what you can deduct before you borrow is the chart on page 3 of IRS … Continue reading →

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9 Easy Mistakes Home Owners Make on Their Taxes

Posted on February 7, 2013 by Tom & Dee Cryer

Don’t rouse the IRS or pay more taxes than necessary — know the score on each home tax deduction and credit.  Sin #1: Deducting the wrong year for property taxes You take a tax deduction for property taxes in the year you … Continue reading →

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A Reverse Mortgage Can Be A Lifesaver!

Posted on February 6, 2013 by Tom & Dee Cryer

These numbers substantiate my theory: Reverse Mortgages are not for everyone, but for the people who need them, a Reverse Mortgage is a LIFE SAVER! 77 million Number of baby boomers entering the senior sector 50% Federal Reserve estimate of … Continue reading →

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The Tax Man Cometh… Don’t-Miss Home Tax Breaks

Posted on February 5, 2013 by Tom & Dee Cryer

From the mortgage interest deduction to energy tax credits, here are the tax tips you need to get a jump on your returns. Mortgage interest deduction Private mortgage insurance deduction Prepaid interest deduction Energy tax credits Vacation or second home … Continue reading →

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Ask Me Why Everyone Is Moving to Denver!

Posted on February 1, 2013 by Tom & Dee Cryer

Ask me why everyone is coming to #Denver cbsnews.com/8301-505145_16… — Tom Cryer (@MyTownCryer) January 30, 2013

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