First-Time Homebuyer Tax Credit Guide to Filing Your Taxes

First-Time Homebuyer Tax Credit Guide to Filing Your Taxes

Did you become a first-time homeowner in 2010? If so, congratulations! I hope you are enjoying the comforts and satisfaction of owning your own place. You may know that by owning your home, you’ll also get some very favorable tax write-offs that can significantly increase your refund. So while filing your taxes will be a bit different this year, you’ll probably get a more favorable result. Here are some of the things you’ll need to consider. Full story

The Basics of Individual Retirement Accounts and Your Taxes

The Basics of Individual Retirement Accounts and Your Taxes

Although the calendar says 2011 already, you can still make a 2010 IRA contribution. In fact, you can make a contribution until April 15, 2011. Furthermore, some taxpayers are eligible to deduct their IRA contributions, thereby lowering their taxes for a year long since over. Crazy? Not in the wonderful world of arcane tax rules. Here’s an overview of how IRAs affect your taxes and vice-versa. Full story