Can i claim my down payment and my closing cost for my house in my taxes?
Answers: Downpayment - absolutely NOT.
Some closing costs may be deductible, mainly the pro-rated taxes, pro-rated interest and in some cases the points paid. Most other costs are not tax deductible (attorney, title, etc.)
good luck!
Depends on what line your fees are listed on in the HUD (closing statement). Check with a local title company near you to find out which lines can be deducted and which ones can not. You'll find that most title companys will give you that info.
Good luck.
fed law supercedes state law, on fed tax you can only take off interest and real estate tax paid, but the other costs are used to determine the basis of the property when it is sold. so keep you closing papers until you sell the property
Lets speak i am 52 and hold 30k dollars how would you investe it> also i am retired own a house.?
Do you think it would be sage to buy a new saloon for cash or invest and within what?Answers: We are in volatile and risky times. I would invest it surrounded by 30 year treasury bonds. At today's low interest rates you will likely seize a coupon rate of about 3%. This would grant you only roughly
$ 1000.00 per year. However it is income to add to doesn`t matter what other income you have.
I assume you are retired. You articulate you own a house. Does that mean you do not enjoy a mortgage to pay? If so later the $ 1000 from the bonds might pay for your property taxes.
I love the warranty of 30 year treasury bonds and there is little downside risk.
Regarding the sports car. I would just put it stale unless your's is seriously broken. I will wait my self until true hybrids, those next to
"plug-in" feature is surrounded by it. LIkely in some of the 2009 models.
If those cars come onto tje marketplace one might never buy gasoline, at least for local driving. If you keep hold of the bonds then it might spawn sense then to buy the "plug-in" sports car which would have really polite pay rear.
Invest it in mutual funds. Get a loan from credit alliance for the car.
Do you hold any kind of retirement income or is the 30K adjectives you have?
Paying brass for a car is a awful investment, as it's a depreciating asset.
I think a better investment would be to skipper down to Florida, say Venice on the west coast and put a huge stipend down on a property. You'd be amazed at the prices down there right presently.
It's an asset that the kids can enjoy, and it will eventually salary for itself
oil or gold ingots
Is anyone else frustrated trying?
I live in kc and am trying to find a house for around $125,000 or less. Where I want to live is sooo expensive that even the small 1000 sq ft. homes are still over my price!! How can I find other!? I thought this was supposed to be a buyers flea market?Answers: Can you buy a cheap block of land and build a nice house? usually cheaper..
$125,000? wow that's nil. Our 2 bedroom apartment here in Sydney be $497,000 about 3 years ago!
I know a wholesaler/investor surrounded by KC. Check him out...he may be able to aid you. I don't know.
Ask for John at Amstar Investments, LLC. Tell him Brian from Ohio referred you.
* I met him recently here within Ohio. He seems close to a great guy.
Buyer's market doesn't propose you are going to get lower than common pricing on homes. It just funds that there is a larger supply of homes right very soon than there are buyers that qualify for homes... so you own more options and a better break of negotiating a clothed deal, but in that are no guarantees that you'll get 30% bad or anything like that.
Maybe you can find a condo or townhome. But, steal a look on realtor.com and see what the normal prices are. Also help yourself to a look at http://www.bidselect.com/?siteid=62400 for HUD homes.
Kansas City, MO? try 4304 Harrison St, 64110. Get a buyer's agent and offer around $65,700 and ask for 3% help within closing costs.
Kansas City, KS? try 7329 Greeley, 66109. Offer about $91,200 and ask for 3% support in closing costs.
Good luck to you!