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Monthly Archives: April 2021

    How long do I have to keep this stuff?

    By Carla Higgins | April 27, 2021

    “How long do I have to keep this stuff?” is the usual question you ask yourself when feeling that you are running out of room for all this “paper” that may never be needed. The paper receipt you get from your fast-food lunch may go directly into the trash. The prudent consumer may keep it … Continue reading How long do I have to keep this stuff? → Read More

    Rent your home tax free

    By Carla Higgins | April 20, 2021

    There is a little-known provision in the tax code that allows homeowners to rent their principal residence or second home for up to 14 days a year without having to recognize the income. In this situation, the taxpayer does not deduct the rental expenses associated with the income. There is no restriction on how much … Continue reading Rent your home tax free → Read More

    Rent your home tax free

    By Carla Higgins | April 20, 2021

    There is a little-known provision in the tax code that allows homeowners to rent their principal residence or second home for up to 14 days a year without having to recognize the income. In this situation, the taxpayer does not deduct the rental expenses associated with the income. There is no restriction on how much … Continue reading Rent your home tax free → Read More

    Before you pay cash for a home

    By Carla Higgins | April 13, 2021

    Before you pay cash for a home, ask yourself if there is a possibility, at some point in the future, you might put a mortgage on the home and would want to deduct the mortgage interest on your federal tax return. Current federal tax law allows homeowners to deduct the interest on up to $750,000 … Continue reading Before you pay cash for a home → Read More

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