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A Credit Score That Tracks You More Closely
By TARA SIEGEL BERNARD - is a personal finance reporter with The Times.
 
Anyone who has recently applied for a mortgage knows that lenders are already looking much more closely at your financial affairs. But soon, they’ll  be able to easily delve into the deepest recesses of your financial life, accessing information that never before appeared on your credit report. 

This week, a company called CoreLogic introduced a new type of credit file,  which is based on the giant repository of consumer data it maintains on just about everything that most of the traditional credit bureaus do not: missed rental payments that have gone into collection, any evictions or child support judgments, as well as any applications for payday loans, along with your repayment history. 

The new report also includes any property tax liens and whether you’ve fallen behind on your homeowner’s association dues. It may reflect that you now owe more than your house is worth or if you own any other real estate properties outright. It also is supposed to catch mortgages made by smaller lenders that the big credit bureaus may have missed.

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MCB Tax and Financial Services offers tax preparation, real estate, recruiting, at home bill payment, and small business services in New York City.  Call MCB Tax and Financial Services today at 347-464-9153 for a free consulation or visit www.mcbtax.com to schedule an appointment.
 
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10 Overlooked Tax Breaks

The goal of every taxpayer is to make sure the IRS gets as little as possible. For that to happen, you need to take every tax deduction, credit or other income adjustment you can.

Here are 10 tax breaks -- some for itemizers only, others that any filer can claim -- that often get overlooked but that could save you some tax dollars.
 
1. Additional charitable gifts
Everyone remembers to count the monetary gifts they make to their favorite charities. But expenses incurred while doing charitable work often aren't counted on tax returns.

You can't deduct the value of your time spent volunteering, but if you buy supplies for a group, the cost of that material is deductible. Similarly, if you wear a uniform in doing your good deeds, for example as a hospital volunteer or youth group leader, the costs of that apparel and any cleaning bills also can be counted as charitable donations. 
Read more: 10 overlooked tax breaks
 
 
 
 
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MCB Tax and Financial Services offers tax preparation, accounting, bookkeeping, daily money management, real estate, recruiting, and payroll services in New York City. Call  347-464-9153 or visit mcbtax.com.
 
 
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Taxpayers who itemize have to wait until February to file
(USA Today) - Taxpayers who itemize on their federal tax returns will have to wait until at least mid-February to file, the IRS said Thursday. 
 
 
Welcome to MCB Tax and Financial Services, your financial partner.  MCB Tax and Financial Services provides tax preparation, accounting, bookkeeping, property management, real estate, billing, bill payment, personal money management.  Call us at 1-347-464-9153 to speak to a financial representative.
 
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