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Deducting Mortgage Interest

It pays to take mortgage interest deductions

If you itemize, you can usually deduct the interest you pay on a mortgage for your main home or a second home, but there are some restrictions.

What counts as mortgage interest?

Deductible mortgage interest is any interest you pay on a loan secured by a main home or second home that was used to buy, build, or substantially improve your home. For tax years prior to 2018, the maximum amount of debt eligible for the deduction was $1 million. Beginning in 2018, the maximum amount of debt is limited to $750,000. Mortgages that existed as of December 14, 2017 will continue to receive the same tax treatment as under the old rules. Additionally, for tax years prior to 2018, the interest paid [Read More]

February 13th, 2020|Articles|

Beyond the Banks

Financial freedom is no longer a myth or for retired pensioners or for the elite. Jodi Vetterl reveals how the banks became the most profitable companies and how following their methods of lending can change your life. Take a look at the banks, and then look beyond the banks to break out of the rat race by taking control of your own financial destiny.

We are pleased to be featured as one of the highly recommended companies to use for all of your US real estate tax accounting needs in the publication.

If you are interested in a copy of the book, it is $32 US dollars. Please e-mail us at : info@hartassociate.com

October 28th, 2019|Press|

Self-Directed IRAs and Real Estate Rentals

Do you manage a property that is owned by an IRA?  If not, would you like to but are just not sure how? As a property manager, just knowing the basic rules makes you a valuable partner for your owner.  You will find that some owners unintentionally may want to make a decision that will totally cancel out their IRA structure, but if you know the basic rules, you can protect their interests. 

​​​​​​​All management contracts, deeds, and legal documents must be in the name of the IRA and not the IRA owner’s name. When applicable, documents may be in the name of an IRA/LLC.

For the purposes of determining prohibited transactions through a self-directed IRA, the following people are considered disqualified persons:

August 27th, 2019|Articles|