Category Archives: TAX

What Can You and What Can’t You Deduct When You Have a Home Office?

Posted on March 10, 2012 by Tom & Dee Cryer

Have  you ever wondered what tax advantages a home office would provide when April, 15 rolls around.  Thanks to Donna Fuscaldo and HouseLogic, this question and more are answered here. Working from home can offer many advantages including tax deductions. Just take care what … Continue reading →

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The 10 Most Common Mistakes Home Owning Tax Payers Will Make This Year

Posted on February 3, 2012 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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Tax Tips for Homeowners Looking Ahead to 2010 Returns

Posted on February 6, 2011 by Tom & Dee Cryer

From energy tax credits to vacation home deductions, check out these tax tips for homeowners looking ahead to 2010 returns. Claim remaining energy tax credits It’s time to get cracking if you didn’t exhaust your full allotment of residential energy tax … Continue reading →

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10 Common Errors Home Owners Make When Filing Taxes

Posted on February 5, 2011 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 (or … Continue reading →

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2011 Energy Tax Credits: What You Need to Know to Collect

Posted on February 4, 2011 by Tom & Dee Cryer

Washington is giving you less green for going green, as the feds reel back the 2011 energy tax credits from a lavish $1,500 to a paltry $500. Other limits on energy tax credits besides $500 max Credit only extends to … Continue reading →

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Get Your 2010 Energy Tax Credits: Filing Tips for Form 5695

Posted on February 3, 2011 by Tom & Dee Cryer

Sidestep snares in the complex IRS Form 5695 to get all the 2010 energy tax credits you’ve got coming. Fill out the right part of Form 5695 What type of system did you install? If it’s one of the following, … Continue reading →

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Schedule A Form: 6 Home Deduction Traps

Posted on February 2, 2011 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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