First Time Home Buyer Credit

Posted on January 24, 2012 by Steve Jackson

There are many questions about the first time home buyer credit as well there should be. The first time home buyer credit has been changed a few times since it first appeared a few years ago. This post should clarify some of the rules as they apply to the first time home buyers credit.

Some Rules to Know About the First Time Home Buyer Credit

For the purpose of the first time home buyer credit a home is defined as the taxpayer’s principal place of residence, and must be located in the Continue reading →

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Figuring the Correct Investment Cost Basis

Posted on January 22, 2012 by Steve Jackson

Using the Correct Investment Cost Basis Will Save You Tax Dollars

The IRS publishes a list of the most missed tax deductions by taxpayers and the correct investment cost basis is traditionaly one of the most costly mistakes taxpayers make. I know you don’t like to pay more than once on the same income but that is exactly what routinely happens when you don’t figure the correct investment cost basis of stocks or mutual funds when you trade or sell.

Adding Up All Your Investments Will Help With Correct Investment Cost Basis

Of paticular concern when figuring correct investment cost basis is the reinvested dividends and capital gains distributions. This is very common when you elect not to take the cash, instead reinvesting the earnings which increases the investment cost basis, or tax value or your investment.

Correct investment cost basis is absolutely crucial when Continue reading →

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