Monthly Archives: May 2013

Home Office Deduction Simplified

Home Office Deduction Simplified, beginning with the 2013 tax year, the IRS is making a simpler method available for calculating the home office deduction. At their option, taxpayers may claim a standard rate of $5 per square foot for the qualified business use of their home instead of using a prorated portion of their actual…
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Should You Have Long-Term Care Insurance?

Should You Have Long-Term Care Insurance? The prospect of running out of assets or not having enough income to live on in old age is a scary one. Even individuals who have saved diligently for retirement may find themselves in a financial crisis if they end up needing an extended period of long-term care because…
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Prepaying Your Mortgage – A Good Decision?

Prepaying Your Mortgage - A Good Decision? in this time of low interest rates, does it make sense to prepay your mortgage? The earlier you pay off your mortgage, the more interest you may save. Even if your mortgage rate is relatively low, it may be difficult to find a conservative investment that would pay you…
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Tax Milestone

Tax Milestone, your local store probably carries special cards for the birthdays that tend to be milestones in ordinary life. Although taxpayers shouldn't expect to receive cards from the IRS, some birthdays are especially important for tax purposes, too. Birth. You generally can start claiming a dependency exemption for your child in the year he or she…
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