Monthly Archives: May 2015

Deduct Your Refinancing Costs

Deduct Your Refinancing Costs. As the real estate market improves and mortgage rates remain low, many homeowners are considering refinancing their home mortgages. Following are some of the general tax rules for deducting the charges associated with refinancing. Interest Interest on a refinanced loan will be deductible to the extent the loan refinances up to $1…
Read more

Depreciating Business Property

Depreciating Business Property. Depreciation deductions can be extremely valuable for a business. For example, in a recent court case, a federal judge ruled a company could begin taking its depreciation deductions for two buildings housing retail stores at a point prior to when they were "open for business." The ruling allowed the company to show a…
Read more

Retirement Savings: Leave, Take, or Roll

Retirement Savings:  Leave, Take, or Roll If you're about to switch employers or retire, you may wonder what to do with the money you have in your employer's retirement plan. Generally, you have four choices, each with very different consequences. Leave You may leave the money where it is, provided your former employer's plan permits…
Read more