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Recent Discussions


Hi Steve, I don't think Mom is getting involved. She has not been in a relationship with sons Dad in years. If the son calls me, I will ask if he wants references, but I don't know how seriously they ...
RE:2nd Home Mortgage (s) - May 18, 2013
Yes, I just did an amort sch for the "3rd" loan. And noted on it that TP needs to put it with all the invoices and payments records for the improvements to the property. Not on MY tax return~!!!! ...
RE:2nd Home Mortgage (s) - May 18, 2013
Claire, Whether you deduct it or capitalize it, it looks like you need to follow the tracing rules on this third liability -- not a good thing to be doing on this lovely weekend in May. I'll be spe...
RE:2nd Home Mortgage (s) - May 18, 2013
Claire, Personally I don't deduct "mortgage interest" unless I have a statement showing Mortgage Interest. I think the 3rd liability could be deducted if there is something clearly stating the intere...
Member Spotlight

  Andrew Poulos, EA, ABA, ATP
  Poulos Accounting & Consulting, Inc.

  NSA Member Since: 2005

   MSP Columnist
   "Get it Right the First Time:
  Independent Contractor vs.
  Employee Status
"

  NSA Member Spotlight
   Read the interview

  Featured in CPA Practice Advisor 
   The Born Entrepreneur
    
  Read more about Andrew on his NSA Professional
  Directory profile Here

Welcome NSA Members


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Tax Talk Today May 2013

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