Fri.May 28, 2021

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Determining the “Basis” in your Residence

RogerRossmeisl

The housing market in many parts of the country is strong this spring. If you’re buying or selling a home, you should know how to determine your “basis.” How it works You can claim an itemized deduction on your tax return for real estate taxes and home mortgage interest. Most other home ownership costs can’t be deducted currently. However, these costs may increase your home’s “basis” (your cost for tax purposes).

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Red Flags of Divorce Fraud

FraudFiles

The vast majority of family law cases are settled without trials. However, a client should not enter into a voluntary settlement if there are significant concerns about the truth of the financial disclosures and indications that assets or income may be hidden. The first step in determining whether a forensic accountant is needed to evaluate the finances of the parties is the identification of “red flags” of fraud.

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Which One Are You?

RitaKeller

“Reading is departure and arrival.” —Terri Guillemets. Summer is on the way. This weekend is often referred to as our first summer holiday and to me summer means more reading. For Flashback Friday this week read one of my posts that describes a book you should read. The post asks if you are a Linchpin or a Hurdle? Enjoy the 3-day weekend.

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