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Buying a Second Home - Tax Tips for Homeowners - TurboTax - Intuit
You can deduct property taxes on your second home, too. In fact, unlike the mortgage interest rule, you can deduct property taxes paid on any number of homes .
http://turbotax.intuit.com/tax-tools/tax-tips/Home-Ownership/Buying-a-Second-Home/INF12015.html


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Tax Deductions On Mortgage Interest
Dec 16, 2011 . Introduced along with the income tax in 1913, the mortgage interest tax . If your home is a second home, you can deduct the interest from only .
http://www.investopedia.com/articles/pf/06/MortIntTaxDeduct.asp

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Meet The Staff at Newgate Kennels & Cattery

Romney's tax idea could undermine Maine home sales | The ...
Apr 18, 2012 . Eliminating the mortgage-interest deduction for second homes would . Romney make the remarks about ending the second-mortgage tax .
http://www.pressherald.com/news/home-sales-could-feel-hit-in-tax-change_2012-04-18.html

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Tax Rules for Second Homes - Kiplinger
Property taxes. You can deduct property taxes on your second home, too. In fact, unlike the mortgage interest rule, you can deduct property taxes paid on any .
http://www.kiplinger.com/features/archives/2007/01/secondhome.html

  • The Impact of Losing a Second-Home Mortgage Deduction ...
    Apr 19, 2012 . Although the idea of eliminating tax deductions on a second mortgage are floating around, the impact of the plan likely is less severe than you .
    http://www.mainstreet.com/article/real-estate/buying/impact-losing-second-home-mortgage-deduction

  • Taxes from A to Z: V Is For Vacation Home - Forbes
    Mar 26, 2012 . For tax purposes, you can deduct “qualified residence interest” on a mortgage secured by a second home – that may also include points.
    http://www.forbes.com/sites/kellyphillipserb/2012/03/26/taxes-from-a-to-z-v-is-for-vacation-home/

image Joel Millett - General Manager

The Tax Benefits of Home Ownership | AllLaw.com
Home mortgage interest is deductible on your income taxes if you itemize. . of home mortgage debt, whether it is used to purchase a first or a second home.
http://www.alllaw.com/articles/tax/article3.asp

Tax - Owning a Second Home - H&R Block - H&R Block®
Second-Home Deductions. If you take out a mortgage to .
http://www.hrblock.com/taxes/tax_tips/tax_planning/second_home.html

Publication 936 (2011), Home Mortgage Interest Deduction
The loan may be a mortgage to buy your home, a second mortgage, a line of credit . deduction for mortgage interest and real estate taxes on your main home if .
http://www.irs.gov/publications/p936/ar02.html

imagePhil Broadhurst - Manager

Taxpayers May Claim Deductions for Vacation Homes
Mortgage interest and property tax payments for your second or vacation home are generally tax-deductible. But, unless your third home is a rental property, .
http://www.groco.com/readingroom/tax_vacationhomes.aspx

Property Taxes on Vacation Homes & Timeshares - SmartMoney.com
Aug 1, 2010 . If you have a second vacation home or a timeshare property, you'll fall . lets you deduct interest on up to $1 million of mortgage debt (and up to . Property taxes are generally deductible, no matter how many homes you own.
http://www.smartmoney.com/taxes/income/taxes-on-vacation-homes-9562/

imageClare Raymond - Manager

Home Mortgage Interest Deduction - Claiming ... - About Taxes
The mortgage must be secured by a "qualified home" in order for the interest to be tax-deductible. A qualified home is your main home or your second home.
http://taxes.about.com/od/deductionscredits/a/MortgageDeduct.htm

Vacation Home Deduction -- A Tax Guide - The Tax Byte
With $15,000 of mortgage interest and taxes. Bolton gives you a $7,350 deductions advantage. Vacation Home as a Rental Property. Allocation breaks for rental .
http://www.markredfield.com/taxbyte5.shtml

Tax tip on the tax advantages of owning a vacation home.
Feb 27, 2008 . Sorry -- no fun, no tax break. The property wouldn't qualify as a second home for the purpose of the home mortgage interest deduction. The IRS .
http://www.bankrate.com/brm/itax/edit/tips/stories/vacation_place.asp

imageJenny Godfrey - Assistant Manager

Home Tax Expenses, House Deductions, Deductible, Mortgage - eFile
Second Home/Vacation Home: Homeowners can deduct mortgage interest and property taxes from second homes and vacation homes as long as the .
http://www.efile.com/tax-deduction/income-deduction/home-deductions/

Mortgage Interest Tax Deduction on Rental Property » My Money Blog
Jun 22, 2009 . For you to take a home mortgage interest deduction, your debt must be . Second thought: When I consider a property, oftentimes it's the tax .
http://www.mymoneyblog.com/mortgage-interest-tax-deduction-on-rental-property.html

imagePhil Proudlove - Assistant Manager (previously Trainee Assistant Manager)

Tax Topics - Topic 415 Renting Residential and Vacation Property ...
Aug 11, 2012 . These expenses, which may include mortgage interest, real estate taxes . then your deductible rental expenses may be more than your gross rental income. . If you live in your vacation home for the other 30 days of the year, .
http://www.irs.gov/taxtopics/tc415.html

Taxes and Second Homes: Will Buying a Second Home Help Lower ...
Apr 19, 2011 . Taxes and Second Homes: Will Buying a Second Home Help Lower My . deduct mortgage interest on a second home and also property taxes .
http://www.secondshelters.com/2011/04/19/taxes-and-second-homes-will-buying-a-second-home-help-lower-my-income-taxes/

imageSophie Willcock – Assistant Manager

Mortgage | Vacation & Second Home Mortgage | Learn the Basics ...
From your mortgage application to enjoying your new vacation property, Wells Fargo . of credit extended and include applicable state or local mortgage taxes.
https://www.wellsfargo.com/mortgage/buying-a-house/buying-a-vacation-home/


 

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Romney's Tax Proposal Targets Higher Income Earners - ABC News
Apr 17, 2012. vacation home, told supporters at a closed-door fundraiser on Sunday that he would "probably eliminate" the tax deduction for mortgage .
http://abcnews.go.com/Politics/OTUS/romneys-tax-proposal-targets-higher-income-earners/story?id=16152137

imagePat Child

Obama Tax Return Claims Mortgage Deduction That Most Helps ...
Apr 13, 2012 . "The mortgage interest deduction primarily helps middle class home . I see NO reason any second home should yield a tax deduction.
http://www.huffingtonpost.com/2012/04/13/obama-tax-return-mortgage-interest-deduction_n_1424645.html

Best Tax Deductions On Chopping Block? - Forbes
May 4, 2012. tax deductions like home mortgage interest, charitable contributions, state . for high-income people the second-home mortgage deduction.” .
http://www.forbes.com/sites/robertwood/2012/05/04/best-tax-deductions-on-chopping-block/


 

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Buying a Second Home
Real estate or property taxes are also deductible on your second home, if you itemize your deductions. In addition, any mortgage points paid when buying a .
http://www.money-zine.com/Financial-Planning/Buying-a-Home/Buying-a-Second-Home/

  • Joel Millett (see Managers)
  • Phil Broadhurst (see Managers)
  • Clare Raymond (see Managers)
  • Jenny Godfrey (see Managers)
  • Phil Proudlove (see Managers)
  • Marie Price (see Supervisors)
  • Sophie Willcock (see Supervisors)

imagePhil Hallworth

is a home improvement loan on a second home tax deductible?
Say, for instance, you're able to swing a vacation home on the lake. You're in tax luck. Mortgage interest on second homes is fully deductible. In fact, your .
http://askville.amazon.com/home-improvement-loan-tax-deductible/AnswerViewer.do?requestId=2497782

Tax Deductions for Vacation Homes
Mar 12, 2010 . If you bought your vacation home exclusively for personal enjoyment, you can generally deduct your mortgage interest and real estate taxes, .
http://resortlife.blogs.realtor.org/2010/03/12/tax-deductions-for-vacation-homes/

imageStuart Roberts

Second home tax break could be first casualty of deficit wars ...
Oct 26, 2011 . Second home tax break could be first casualty of deficit wars. Advisers say mortgage interest deduction makes for an easy target for politicians; .
http://www.investmentnews.com/article/20111026/FREE/111029949

imageMichael Watson

Mitt Romney Specifies Tax Deductions He'd Cut - WSJ.com
Apr 15, 2012. high-earners the mortgage-interest deduction for second homes, as well as the state income-tax deduction and state property-tax deduction.
http://online.wsj.com/article/SB10001424052702304432704577346611860756628.html

Who loses if second home mortgages are no longer deductible ...
Oct 25, 2011 . The proposed elimination of the mortgage-interest tax deduction for second homes will smack a number of states. Here's a look at how each .
http://www.investmentnews.com/article/20111025/FREE/111029974

imageZsuzsa Bernaczki

Romney's Plan to Close Loopholes - NYTimes.com
Apr 18, 2012 . The three he named were the deduction for mortgage interest on vacation homes and the deductions for state and local taxes. Although his .
http://economix.blogs.nytimes.com/2012/04/18/romneys-plan-to-close-loopholes/

imagePaul Watkins

Vacation Home Tax Deduction Tips | eHow.com
Depending on how you use your vacation home, you are eligible for tax benefits. You can generally deduct mortgage interest as well as property taxes on both .
http://www.ehow.com/way_5155152_vacation-home-tax-deduction-tips.html

imageZoltan Bernaczki

The Tax Benefits of Purchasing a Second Home ... - Mortgage-info.us
Your second home or vacation property can offer you significant tax advantages. . because you can deduct interest on up to $1 million of mortgage debt on two .
http://www.mortgage-info.us/taxsecond.htm

Is the Interest Expense on a Vacation Home Tax-Deductible ...
Is the Interest Expense on a Vacation Home Tax-Deductible? . The interest on your vacation home loan qualifies for the mortgage interest deduction as long as .
http://budgeting.thenest.com/interest-expense-vacation-home-taxdeductible-24941.html


 

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How Does Home Mortgage Tax Deduction Work? | Home Guides ...
The home mortgage tax deduction allows you to reduce your taxable income by the . interest on up to two homes: your primary residence and a second home.
http://homeguides.sfgate.com/home-mortgage-tax-deduction-work-7361.html

imageEmma Avery

Tax Advantages of Owning a Second Home - FamilyEducation.com
There can be tax advantages to owning a second home, whether you use it for . can't deduct the mortgage interest on your vacation home as home mortgage .
http://life.familyeducation.com/buying-a-house/personal-finance/47225.html

The Lose-Lose Job of Cutting Your Top Tax Breaks
Apr 27, 2012 . House Republicans are looking for ways to offset the cost of huge tax cuts by eliminating hundreds of billions of dollars worth of tax deductions .
http://www.thefiscaltimes.com/Articles/2012/04/27/The-Lose-Lose-Job-of-Cutting-Your-Top-Tax-Breaks.aspx

imageLee Paden

Vacation Home Deductions: Relax and Save Tax
Jul 1, 2005 . Vacation homes fall into one of three categories of rules. . All property taxes and mortgage interest are generally deductible in full but other .
http://recenter.tamu.edu/pdf/1734.pdf

imageKarl Watkins

Despite Critics, Mortgage Interest Deduction Persists - NYTimes.com
Nov 8, 2011 . The mortgage interest deduction survived the overhaul of the tax code in . and prohibit people from deducting the interest on a second home.
http://www.nytimes.com/2011/11/09/your-money/despite-critics-mortgage-interest-deduction-persists.html?pagewanted=all

Mortgage Interest Tax Deduction on Rental Property » My Money Blog
Jun 22, 2009 . For you to take a home mortgage interest deduction, your debt must be . Second thought: When I consider a property, oftentimes it's the tax .
http://www.mymoneyblog.com/mortgage-interest-tax-deduction-on-rental-property.html

imageSarah O’Leary

Vacation Home Tax Benefits
You may fully deduct mortgage interest on up to $1 million of acquisition mortgage debt on your first and second home. Property taxes also are deductible, but .
http://www.execrealtor.com/vacation-home-tax-benefits.html

imageTim Wynn

What Mortgage Closing Costs Are Tax Deductible? | Home Guides ...
The typical mortgage loan carries a long list of fees and costs in addition to the interest . For home buyers, loan closings give rise to valuable tax deductions. . Points on second homes may be deducted, but the cost must be spread over the .
http://homeguides.sfgate.com/mortgage-closing-costs-tax-deductible-6951.html

imageRachael Shapley

Is the mortgage interest on a vacation home deductable
Can mortgage interest on second home be deducted on tax returns? You may deduct your interest on your principle residence plus one other qualified .
http://wiki.answers.com/Q/Is_the_mortgage_interest_on_a_vacation_home_deductable

imageMelissa Santos

Real Estate | Mortgage deduction resists change | Seattle Times ...
Nov 11, 2011 . The mortgage-interest deduction can be taken on second homes, such . or eliminating the tax deduction for interest on home mortgages, you .
http://seattletimes.com/html/realestate/2016729966_realdeduction13.html

imageJosh Meehan

Tax Topics - Topic 504 Home Mortgage Points
Aug 11, 2012 . The term "points" is used to describe certain charges paid to obtain a home mortgage. Points are prepaid interest and may be deductible as .
http://www.irs.gov/taxtopics/tc504.html

imageLisa Farrington

Taxation of Owning a Second Home | Fusion CPA - Atlanta Tax ...
Apr 7, 2011 . The mortgages on your main home and your second home are more than . You can deduct your interest and taxes as described above.
http://www.fusiontaxes.com/atlanta-tax-planning-30306/vacation-home-second-home-tax-advice/

 

imageMatthew Paden

Is the Interest on Your RV Loan Tax Deductible
Your motorhome may be considered as a second home mortgage, in which case, making you RV interest tax deductible. There are stipulations: there are certain .
http://www.lowrvfinancing.com/articles/rv-tax-deductible.html

imageChloe Watkins

Tax Deduction for Rental Homes - HouseLogic
Jan 3, 2012 . Less obvious deductions include expenses to obtain a mortgage, . Read our story about tax deductions for vacation homes for an explanation.
http://www.houselogic.com/home-advice/tax-deductions/tax-deductions-rental-homes/


imageTom Sneyd

Second-home tax breaks can add up to savings - Chicago Tribune
Jan 16, 2004 . Millions of U.S. residents own a vacation or second home. . you itemize your income-tax deductions, your property taxes and mortgage interest .
http://articles.chicagotribune.com/2004-01-16/business/0401160223_1_mortgage-interest-deductions-tax-result


imageNatasha Santos

Tax Tip: Lock in Mortgage Interest Deductions for Points ...
Mar 12, 2012 . By Ken Berry This is the second article in our series of tax return tips for . the taxpayer is entitled to mortgage interest deductions for that home.
http://www.accountingweb.com/topic/tax/tax-tip-2-lock-mortgage-interest-deductions-points


imageLisa Carey

Tax Deductions for Vacation Homes | Blackman & Sloop, CPAs, P.A.
If you bought a vacation home exclusively for personal enjoyment, you can generally deduct your mortgage interest and real estate taxes, as you would on your .
http://www.blackmansloop.com/tax-deductions-for-vacation-homes.html


imageNiamh Maguire

Tax Deductions for a Recreation Vacation Home | Finance - Zacks
For example, if you've got a $1 million mortgage on your main home, your vacation home mortgage won't help you on your taxes. To claim the deduction, you .
http://finance.zacks.com/tax-deductions-recreation-vacation-home-2211.html


imageLucy Green

Tax - Mortgage Interest Tax Deductions Available When Buying a ...
If you didn´t rent out your vacation home, you can fully deduct the .
https://www.hrblock.com/taxes/tax_tips/tax_planning/home_buying.html?ttiptitle=Home%20Ownership



 

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A Vacation Home - The Ultimate Hideaway
Then you may want to know that a vacation home can offer some tax savings. . Should you purchase a third home, interest on that mortgage is not deductible.
http://www.massmutual.com/planningtools/educationalarticles/articledisplay?mmcom_articleid=892630e5e885a110VgnVCM100000ee6d06aaRCRD

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Romney Targets 2nd Home Mortgage Deduction | Glassman Wealth ...
Apr 16, 2012 . Top on his list is the second home mortgage deduction for high earners. . increases based on the size of their mortgage and their tax bracket: .
http://www.glassmanwealth.com/romney-targets-2nd-home-mortgage-deduction-2/

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Boat, sweet tax-deductible, second home, but perhaps for not much ...
May 31, 2011 . For tax deduction purposes, you can only have one second home. . still let a boat owner claim the mortgage interest deduction for the vessel, .
http://dontmesswithtaxes.typepad.com/dont_mess_with_taxes/2011/05/boat-sweet-tax-deductible-home-but-perhaps-for-not-much-longer.html

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Does Mortgage Interest Help on Taxes? - Budgeting Money
The home mortgage interest deduction is much lauded, but is sometimes overrated and a bit . Mortgage interest on a vacation property is also tax deductible.
http://budgeting.thenest.com/mortgage-interest-taxes-3785.html

Deducting Your Mortgage Interest - Comparelenders.com
Under the current tax code, mortgage interest on first and second homes is generally deductible as .
http://www.comparelenders.com/help/mortgage_interest.htm

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Newgate Kennels News & Updates

Is A Second Home An Investment Property? - AccountantsWorld ...
Whether clients will be willing to give up all (or most) personal use of a second home, and a mortgage interest deduction, just to cut their tax bills is certainly a .
http://www.accountantsworld.com/DesktopDefault.aspx?page=articles&faid=660&category=story&kw=

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