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Home Mortgage Interest Deduction: How It Works and the Big Myth

Home Mortgage Interest Deduction: How It Works and the Big Myth 5

One of the benefits of buying a home is that you can deduct the mortgage interest you are paying on your loan. Since the inception of the income tax in 1913, the mortgage tax deduction is still one of the most popular deductions for homeowners. Generally, all mortgage interest can be deducted from your federal … Read moreHome Mortgage Interest Deduction: How It Works and the Big Myth

What are Qualified Distributions?

What are Qualified Distributions? 8

A qualified distribution is a withdrawal from a retirement account that does not result in an early withdrawal penalty. For retirement accounts that are generally withdrawn on a tax-free basis if the withdrawals are made when the account owner is the appropriate age or for certain exceptions, than a qualified distribution from that retirement account … Read moreWhat are Qualified Distributions?

5 Guidelines for Deducting Entertainment Expenses from Your Small Business

5 Guidelines for Deducting Entertainment Expenses from Your Small Business 14

It can be tempting to chalk up all your entertainment expenses as business expenditures but you must resist the temptation or face the music from the IRS. Small business expenses do have rules and if you break them, you could find yourself in tax trouble. Entertainment expenses including those for meals out are sometimes the … Read more5 Guidelines for Deducting Entertainment Expenses from Your Small Business

6 Reasons Extreme Couponing Will Not Work for You

6 Reasons Extreme Couponing Will Not Work for You 20

Anyone watching the latest trend in reality television probably has drooled a little bit after learning people are saving hundreds of dollars on their grocery/shopping bills by clipping a few (thousand) coupons. Some of us might even be envious and consider taking up the couponing lifestyle themselves. Who wouldn’t want to get cartloads of groceries … Read more6 Reasons Extreme Couponing Will Not Work for You

Why Haven’t You Ditched Your Bank for a Credit Union?

Why Haven't You Ditched Your Bank for a Credit Union? 23

In reaction to the financial crisis, the Federal Government instituted changes within the financial industry. Banks have reacted to this and passed along some of the expenses associated with the new regulations, even things like maintenance fees to simply have a bank account. Many bank customers are unsure of where to turn when dissatisfied with … Read moreWhy Haven’t You Ditched Your Bank for a Credit Union?