"I ordered the guide 'the limited reprint rights'
version for $11.95. I must say that it was the best $11.95 I have ever spent.
There is a wealth of information in that guide, some I knew and some I didn’t.
Hey, folks spend the $1.00 to look it over and see if it is something you can
use. I guarantee you it will be worth your $1.00. I printed it out and put it
in my Quickfinder binder to have as a reference for future tax seasons."
Susan Bure, PA NATP Newsletter
In my opinion the area of the Tax Code where proper
documentation and strict adherence to the law has historically been perhaps the
most overlooked (or actually ignored) is the deduction for mortgage interest.
Taxpayers are required to keep separate track of acquisition
debt and home equity debt, to make sure that the deduction on Schedule A does
not include interest on debt principal that exceed the statutory maximum. I firmly believe that 99.5% of taxpayers do
not do this. I do not know of any taxpayer who does. And
I expect that the majority of tax preparers do not do this for their taxpayer
clients.
The need to separately track acquisition and home equity debt is
even more vital now that the GOP Tax Act has totally done away with the
deduction for home equity interest.
I have created a MORTGAGE INTEREST GUIDE. In it
I explain the various types of mortgage debt and the deduction limitations, and
go into detail on how refinancing an acquisition debt mortgage can result in
home equity debt.
I include in this guide two worksheets – one for Acquisition
Debt Activity and one for Home Equity Debt activity – and provide a detailed
example of how to use the worksheets.
My MORTGAGE INTEREST GUIDE is a great way for tax preparers to
introduce new homeowners to the rules and responsibilities for deducting
mortgage interest. You can give this guide to clients who have just
purchased a new home, or offer it as a free “gift” to new homeowners in your
town as a part of a marketing and promotion program to get new clients.
And the debt activity worksheets in the guide are excellent
tools for use in your practice if you choose to maintain the documentation for
your clients.
I have also created a
special report to give to my clients with existing mortgages, which also
includes the worksheets and example, that will explain the new rules and remind
them of their responsibility to keep separate track of acquisition and home
equity debt.
I am offering limited “reprint rights” for my Mortgage Interest
Guide and report for clients with existing mortgages to my fellow tax
professionals to purchase and use for just such purposes. The cost
of the limited license and right to reprint the Mortgage Interest Guide
is only $14.95.
The reprint rights are for use in your own practice only – for
free distribution to current or potential clients. You cannot use
the reprint rights to sell the guide to the public.
The guides will be sent to you as a word document email
attachment. The signed reprint rights license will be sent via
postal mail.
Members of the National Association of Tax Professionals receive
a 25% discount and can purchase the reprint rights
for $11.25! Please provide your NATP membership number with your
order.
Send your check or money order for $14.95 (or $11.25), payable
to TAXES AND ACCOUNTING, INC, and your email and postal addresses to –
TAXES AND ACCOUNTING INC
MORTGAGE INTEREST GUIDE
POST OFFICE BOX A
HAWLEY PA 18428
No comments:
Post a Comment