Now that Santa has come and gone, is the Tax Man far behind?

2013 is coming to a close and between throwing out the wrapping paper and finishing off the turkey; you may want to prepare for tax time before ringing in 2014. If you have sold your home this year, there are a few items you will want to make sure to collect before tax prep: Property Taxes: Any taxes paid (reimbursed or paid ahead) at closing will show up on the HUD-1 statement and may be able for deductions on your taxes. Mortgage Points paid: Any points paid at closing may be able to be deducted, even if the seller “paid” for them at closing. PMI: Any Private Mortgage … [Read more...]