Misplaced decimal means big property tax bills

By Bankrate Westchester NY accountant Paul Herman of Herman & Company CPA’s is here for all your financial needs. Please contact us if you have questions, and to receive your free personal finance consultation! Remember that tax tip about double checking your math before submitting your return? It applies to tax agencies, too. A misplaced decimal by Jupiter, Florida, tax officials prompted a panic by…

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Getting Married: FAQs

Think about owning property together. This is a way to guarantee that property will pass to the other joint owner at the time of the other’s death due to the right of survivorship.

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Sale of a New Home

If you sold your main home, you may be able to exclude up to $250,000 of gain ($500,000 for married taxpayers filing jointly) from your federal tax return.

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Using Reverse Mortgage as a Cash Resource

When an older homeowner has significant equity in his or her residence and needs funds, but lacks the resources to make monthly payments on a conventional mortgage, a reverse mortgage might provide a solution.

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Refinancing Your Home

Westchester NY tax preparers at Herman & Company CPA’s have all the answers to your personal finance questions! Taxpayers who refinanced their homes may be eligible to deduct some costs associated with their loans. Generally, for taxpayers who itemize, the points paid to obtain a home mortgage may be deductible as mortgage interest. Points paid…

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Selling Your Home

Tax preparation firm Herman & Company CPA’s in Westchester, NY has all the answers to your personal finance and tax questions! If you sold your main home, you may be able to exclude up to $250,000 of gain ($500,000 for married taxpayers filing jointly) from your federal tax return. This exclusion is allowed each time…

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