(Forbes) - It is true that if you rent a home to others, you usually must report the rental income on your tax return. However, you may not have to report the rent you collect if the rental period is short and if you also use the property as your home. Click here.
The second most common home buying mistake is assuming your down payment is the only upfront cost.
There are many fees and closing costs that need to be paid along with the down payment when purchasing a home.
Know your budget when shopping for your home, and make sure to include additional funds when budgeting for your home purchase.
Shop around when looking for your mortgage. In some instances, financial institutions will waive some of the closing costs and fees to help keep your initial costs low.
Click here to schedule a visit to your home or office. Call MCBtax at 1-347-464-9153 today.