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You Don’t Have to Take Every Tax Deduction, and You Shouldn’t

Yes, tax breaks benefit the billionaire class, which has the lowest effective tax rate in the country. And yes, they benefit large corporations, many of which pay no federal income tax. The outrageous ... read more

Is Mortgage Interest Tax Deductible?

As tax season rolls around, you may have a number of questions on your mind – including whether your mortgage interest is tax deductible in 2024. The short answer is yes, but whether or not you should ... read more

These Are 3 of the Oddest Tax Deductions Ever – Are You Eligible for One?

Individual taxpayers can claim a wide variety of deductions on their federal taxes. "The basic rules of deductions start by categorizing deductions into two buckets: Above the line and below the line, ... read more

Student loan debt: If you started repayments, you could be eligible for a tax deduction up to $2,500

Interest on federal student loans began to accrue again on Sept. 1, with the first payments due in October for millions of Americans. So if you started repaying, you may be able to take a federal tax ... read more

Mortgage Rates Continue Their Ascent

Freddie Mac's latest Primary Mortgage Market Survey, released weekly, reported the 30-year fixed-rate mortgage (FRM) averaged 7.17% this week. read more

Mortgage demand falls again as interest rates soar past 7%

A key measure of home-purchase application fell for the third straight week as mortgage interest rates marched to the highest level since November 2023. read more

Can You Get a Mortgage If You're Self-Employed?

Establish a track record of self-employment work. Maintain consistent work as much as possible. Try to time your mortgage application after two to three years of consistently strong earnings. At that ... read more

Should you itemize or take a standard deduction on your tax return? Here's what to know

Deductions can include amounts paid for eligible state and local income taxes, real property taxes, personal property taxes, mortgage interest, disaster losses, gifts to charity, and a portion of ... read more

Work From Home Tax benefits: Who can avail home office deductions?

Work From Home doesn't always guarantee tax benefits. There are certain conditions to avail home office deductions. read more

Maximize Your Tax Refund: Choosing Between Standard and Itemized Deductions

For the vast majority, the standard deduction simplifies tax filing and maximizes refunds. However, personal circumstances, such as business expenses or charitable donations, could make itemizing the ... read more

Home loan hacks: Top strategies to save big on your mortgage

Securing a home loan is a significant financial commitment, and finding ways to save on your mortgage can be a game-changer. read more

Beat the ATO by maximising tax deductions on your loan interest

Only the interest component directly related to your investment property is tax deductible. If you are paying principal and interest on your loan, you will need to calculate the interest component ... read more