The newly passed and signed 2010 Tax Act which includes several provisions that could affect you. Here is what you ned to know now!
The 2010 Tax Act
All posts by Jason Loiselle
Do you owe income taxes on Short Sales or Foreclosures??
Many clients ask me if they will owe income taxes on a forgiven mortgage, either from a foreclosure or a short sale. Generally the answer is yes. The truth is, if a lender forgives any portion of your mortgage, the IRS generally calls that taxable income.
Canton and Plymouth homeowners ask about refinancing home mortgages
As a CPA in Plymouth, MI many of my clients in Plymouth, Canton, and all the surrounding communities ask me “Should I refinance my home mortgage?”