Should you claim the mortgage interest deduction when you file your federal tax return?
The Ascent's taxes hub gives you a step-by-step guide on how to file taxes, what happens after, when to expect your tax refund and other helpful resources.
The Mortgage Forgiveness Debt Relief Act exists to exempt qualified taxpayers from taxes on cancelled debt. Here's how you can take advantage of it.
Whether you’re planning to relocate, downsize or finally move into your dream home, you may need to get a mortgage after retirement. Unfortunately, qualifying for a home loan can be difficult for those on a fixed income. Still, it’s possible for creditworthy homebuyers to purchase a new home by relying on income from retirement accounts […]
The mill rate is an important factor in understanding property taxes in the US. It represents the taxes paid per dollar of a property's assessed value. Property taxes are calculated by multiplying the assessed value by the mill rate and dividing the result by 1,000. Mill rates vary depending on the local jurisdiction and are often set annually by county commissioners and the Board of Education. Understanding the property tax mill rate and its impact on real estate taxes is essential, as it can affect monthly mortgage costs. Various strategies can help manage property taxes, such as appealing property assessments
The Republican tax plan would eliminate the mortgage deduction for second homes. Is that a bad thing?
Have a question about retirement, including where to retire? Email [email protected]
In a common financial scenario, many people 65 and older grapple with whether to use their retirement savings to pay off their mortgage. Consider a...
Have a question about your own retirement savings? Email us at [email protected]
Answering reader questions about wash-sale rules, how tax-loss harvesting affects capital gains, and whether you should take out a physician loan when buying a house.
Many people think once they are retired they won’t be able to get a mortgage. However, you can get one. Here's how the process works.
Two sizable pieces of Frugalwoods-relevant news occurred this past spring:
Thought you were done with taxes? Think again.
Debt of all kinds, including mortgage debt, is for losers.
Non-QM purchase mortgage to buy a home but do not meet Fannie Mae guidelines. For Self-Employed or No Income Verification borrower.
We can pay our charitable obligations in the most tax-efficient way possible.
Many people think once they are retired they won’t be able to get a mortgage. However, you can get one. Here's how the process works.
Stay focused, but don’t forget some self-care.
One clear benefit of investing in real estate is how you can make money from your rental property and show a loss on your tax return.
There are so many financial pressures and mortgage payments can be crippling. However, it doesn't have to be like this. Here is how you can begin coping with your mortgage payments.
While VA loans have no prepayment penalty for paying off your mortgage early, there's more pros and cons to consider before you make a decision.
We all know that it can take decades to pay off your mortgage. But does it always make sense to pay off your mortgage before you retire?
The new tax laws are going to hurt a lot of retired taxpayers. Here's what you need to know.
The Mortgage Interest Credit serves as a financial benefit to qualifying homeowners, helping to make their mortgage payments more affordable...
Two sizable pieces of Frugalwoods-relevant news occurred this past spring:
If you’ve been piling up your cash to earn great rates, you might be surprised by the tax bill.
Why are Federal Tax Returns Important to the Mortgage Process? A recently submitted file reminded me yet again, of the pressing need within Mortg...
Once you’re actually retired, consider these strategies to minimize taxes on your income
One 70-year-old’s story highlights the challenges. Prepare for more paperwork and hoops to jump through than you could imagine.
Most people assume that their tax burden will dramatically decrease in retirement once they stop receiving a paycheck, but this isn’t always true. A high tax bill is one retirement risk to be aware of and to try and mitigate.
Many homeowners face a nagging question: Should I pay off my mortgage early or invest? Get answers from someone who's been there.
It's difficult to find yield these days, but these five mortgage REITs offer safety and exceptionally strong payouts for income investors.
In this article, find out if there are any states with no property tax in 2024. Topics also include states with the lowest and highest property taxes, and states with property tax exemptions for seniors, disabled veterans and disabled people.
Keen to pay off your mortgage early? Read this first to see 6 situations when it's actually NOT best to pay off your mortgage early (true!)
Should you really pay down your mortgage or is there a better investment strategy? Why paying off your mortgage is a BAD IDEA.
January 31, 2020, Everyone has to deal with taxes; they’re oftentimes unavoidable. But if you play your cards right, you can spend as little money as possible on them. You may even be so lucky as to avoid paying income tax altogether in retirement and get this… the government might actually give you money when tax season rolls around in a little something called the EITC, the Earned Income Tax Credit.
Transferring property deeds is a complicated business. California uses trust deeds, not...
It’s never too late to start saving.
Many people think once they are retired they won’t be able to get a mortgage. However, you can get one. Here's how the process works.
