CONTACT | SITEMAP
accounting tax audit business consulting
company servicesstaffresourcesclientwebcontact
Company

Who Qualifies as a Dependent?
Profit Ability Article Highlight

If you refinance or purchase a home this year, related expenses will likely be some of your largest deductions for your 2003 taxes. See the list below regarding what is and is not deductible. Source: Internal Revenue Service

Expense
Allowable?
Mortgage interest
Yes
Home equity loan
Yes
Home equity line of credit
Yes
Property tax
Yes
Mortgage points
Yes
Other closing costs
No
Attorney's fees
No
Recording fees
No
Abstract fees
No
Surveys
No
Title searches
No
Owner's title insurance policy
No
Transfer taxes
No
Substantial improvement exp’s
Yes
Points paid to refinance loans not used to substantially improve residence
Yes

ARTICLE TAKEN FROM OCTOBER 2003 ISSUE OF PROFIT ABILITY ( VIEW NEWSLETTER | SUBSCRIBE )
 


HOME | COMPANY | SERVICES | STAFF | RESOURCES | CLIENTWEB | CONTACT

 Talley & Company | 790 The City Drive South, Suite 300, Orange, California 92868 | 714.867.2200
Content © 2003-09, Talley & Company