Some tax credits and deductions are soon to be a thing of the past by the end of 2011. They encompass education, home energy, sales tax and/or adoptions. There are significant details and part of the credits and deductions are set to expire December 31st, 2011. One important deduction was originally enacted in 2007 and depending on which income bracket you fall under, it will no longer be available. It is itemizing and deducting your mortgage insurance premiums. Therefore it would be worthwhile to educate yourself immediately. To qualify for the full deduction, a couple or a single taxpayer must have an adjusted gross income of $100,000 or less. The deduction is phased out completely if AGI exceeds $109,000. If a payment is made after 2011 it is not deductible.



For all your real estate needs please contact Bobby Auerbach at (954) 547-3600 or Bobby@BobbyAuerbach.com


For the complete article visit http://www.inman.com/buyers-sellers/columnists/stephenfishman/take-advantage-expiring-tax-deductions

Top 10 markets for international buyers in Greater Miami, 2011

1. Venezuela: 15 percent

2. Brazil: 12 percent

3. Argentina: 11 percent

4. Canada: 10 percent

5. Colombia: 8 percent

6. Mexico, France: 5 percent

8. Italy, Spain: 4 percent

10. United Kingdom, Ecuador, Dominican Republic and Peru: 3
percent

Source: Miami Association of Realtors