Tag: IRS Tax Rules
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Should I Claim a Home Office Deduction?
Some taxpayers can claim a break for the expenses involved with their home offices. Eligible taxpayers use their home office space “regularly and exclusively” for the purpose of their businesses, according to the Internal Revenue Service. This is the case for both deed holders and renters. Although the deductible amount is limited, it’s worth knowing…
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Vacation Property Loans? What’s the Scoop?
Some people buy homes, and run vacation rental businesses through them. They might even run their businesses from afar, through apps. And they do it without having to qualify for a loan based on their incomes. These borrowers seek out an unconventional — yet popular — form of mortgage. Lenders approve these loans based…
