Reporter Account  Create New Account  Login!
Search :
QUICK LINKS : Art & Entertainment Automotive Blogging & Social Media Business Computer Design Education Environment Events / Trade Shows  
There is no better press release writing company as 123 term papers.
Post Your Story for FREE!
forpressrelease.com
Acrylic Prints
Professional press release writing services for smart people.
BuyEssaysCheap.com - affordable writing help
Promote Your Events with Us!
forpressrelease.com
Go to Assignmentgeek.com and get your homework done.
For Press Release Writing
forpressrelease.com
Partner Event
forpressrelease.com
 
 
 
Press Release Details    
Add to Favorites  Mail to a Friend Print Page   Share This News Rate
Save This Listing     Stumble It          
355

Private Mortgage Insurance Insights Now Featured on American Tax Service Website

Frank Ellis, a tax preparation expert and author, has published an article on the American Tax Service website, which explains how Private Mortgage Insurance (PMI) can be deducted . The information applies to those who donít have a 20% down payment at the time of home purchase. Protecting the lender against defaults on mortgage loans, PMI can also be deducted when filing tax returns, the author reveals.

Introduced in 2006, the tax deduction applies to PMI plans issued from 2007 on, the article states. Lawmakers extended the tax break to help the recovering housing market. Premiums paid up to 2016 are eligible for deductions, as determined by Congress. According to Ellis, policies from the Federal Housing Administration can be deducted, along with those taken out from other institutions and private insurers.

The article explains how homeowners must itemize their deductions, and under what circumstances. It also states where one can find the PMI deduction in Schedule A, and the amount one can claim is listed in Form 1098, the author says.

In addition, Ellis lists a variety of time and occupancy restrictions. Time restrictions regarding refinancing, second home loans, and the use of the property are explained as well. Ellis also covers income phaseouts, and how the amount one can deduct depends on their annual earnings. Eligibility can also be determined by using TurboTax Online , the author says, which identifies forms and refund calculations based on the taxpayerís answers.

To learn more about deducting PMI, go to http://americantaxservice.org/deducting-pmi-private-mortgage-insurance/

About Frank Ellis

Frank Ellis is a Traverse City Tax Preparation Planner and published author. He has written tax and finance related articles for eight years and has published over 900 articles on leading financial websites.

Contact:
Frank Ellis
American Tax Service
Address: 945 East 8th Street Suite A, Traverse City, Michigan 49686
Website: http://americantaxservice.org/   
 
 

Contact Information

  • Name: Frank Ellis

    Company: American Tax Service

    Telphone: -- , -

    Address:

    Email: info@americantaxservice.org