Category Archives: Property Loss

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…
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Taking a Casualty loss

Taking a Casualty Loss, the news is filled with stories of people losing their property and even their entire homes to hurricanes, tornadoes, fires, and winter storms. If you have suffered a property loss, you may be able to claim a "casualty loss" tax deduction. A "casualty" is the destruction of property from some sudden,…
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