Date: Sun, 12 Apr 1998 02:49:39 -0700 (PDT) From: Tips4Taxes@Tax.tips.com To: <bozo000@000.com> Subject: Tax Tip For Real Estate Professionals and Owners!!! Message-ID: <199804120949.CAA10979@hub.freebsd.org>
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A few years ago the IRS changed their regulations and required that when a refinance is done the points must be amortized over the life of the loan and not fully deducted in the year of the refinance. With the low rates of late last, and early this, year many homeowners refinanced. They need to remember if they refinanced in 1997 for a second, third, fourth...time they may have unused portions of the points that they can deduct. This is often overlooked! I apologize if this message is received in error. It is intended for Real Estate and Mortgage professionals and any person who may have refinanced more than once! For you Real Estate Professionals this is a prime time to follow up with your clients! Follow up is the key to repeat business and referrals. Service does not stop with closing! For you homeowners ask your tax preparer. This is a commonly overlooked deduction unless you ask and/or point it out! Please remind your clients, or your tax preparer, if this may apply to you. As with all tax matters you are instructed to seek the advice of a professional such as your CPA or tax attorney. E. Ching Enterprises and the Mortgage Development Group are not giving tax advice, merely a reminder to look, AND ASK, your professional CPA, attorney, etc. if this is a deduction that may apply to you. Tip brought to you by: E. Ching Enterprises MDG (Mortgage Development Group) Box 39 1441 Piikoi St., Suite 504 Honolulu, HI 96822 To Unsubscribe: send mail to majordomo@FreeBSD.org with "unsubscribe freebsd-questions" in the body of the message
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