tax deduction

Year-End Donation Idea for Home Sellers — and Home Keepers

Banks for Money, Food, Blood . . . & Furniture I was familiar with the term “food bank,” but — until I spoke to a salesperson at a local furniture store this weekend — had never heard the term “furniture bank.” That’s where local non-profit Bridging comes in. Bridging will pick up used furniture in...
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Year-End Tax Savings For Homeowners (Who Have a Mortgage & Itemize Deductions)

A $1 Tax Saved is $1 Earned (x $375?) [Editor’s Note:  The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.  Please consult your CPA if you need tax advice.] With that disclaimer out of the way . . . let me...
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Seller Pays For It; Does Buyer Get to Deduct It?

How to Make $1 Worth Up to $1.38 True or False:  the home Buyer gets to deduct closing costs even if the Seller pays for them. Answer:  True (subject to the Buyer’s individual tax circumstances, e.g., whether or not they itemize their deductions, their marginal tax rate, etc.)  What the foregoing means is that 3%...
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