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Obama to Cut Home Mortgage Interest Deductions
Obama's budget has a provision in it to cap the home mortgage interest deduction.

This a a reprint from Knol by permission.

The American Dream is often paired with owning one’s own home. For decades Legislator’s have protected that dream with allowing home owners to claim the mortgage interest paid on their homes as a tax deduction. With a possible phase out of this deduction, could the dream fade?

“There are no cows more sacred in the tax… Continue

Forbes has an article titled "All the Ways Your Laziness Is Costing You Money" and it has a lot of great ideas but I contend it overlooks one of the best ways to save. If you have a Home Based Business it gives you incredible tax write offs. If you aren't taking advantage of these write offs you are losing thousands each and every year. If you don't believe me check it out yourself… Continue

Whether you are self-employed or an employee, if you use a portion of your home for business, you might be able to deduct the associated costs.

A home office deduction is generally easier for self-employed individuals to claim. But even then, the Internal Revenue Service has certain requirements a taxpayer must meet. See the rest of the story here.

Read about the 5 Tips on Understanding Home-Office Deductions brought to you by SCORE "Counselors to America's Small Business."