Did you buy or sell Real Estate in 2009? If you did, or planning to buy or sell in 2010 you may want to read Grant Ballew’s message below and his "10 Big Deductions too many people miss" article (email me sayjay@bellsouth.net  to receive a copy of this). Grant is a Senior Mortgage Consultant from WR Starkey Mortgage. Here’s a note that I received from him this afternoon.

I hope this email finds you doing well. I can’t believe that we are already in February. I am fortunate to be in the business I am, I love what I do! Please take a couple minutes to read this email.

Most people have heard about the $8000 tax credit for first time home buyers, but did you know you may qualify for an extra tax deduction after your refinance? People who refinanced in 2009 may qualify for a special deduction of thousands of dollars.

If you do your own taxes, you may want to review IRS Publication 936. Or ask your tax person about prepaid finance charge deductions. To calculate this deduction you will need the HUD and the Truth In Lending Statement from the loan we paid off at your closing, so bring those documents with you to meet with your tax professional.

Another important deduction to keep in mind is the federal deduction you get for paying state and local taxes. For many borrowers, this can include the intangible tax you paid on your recent mortgage, last year’s state income tax, and the ad valorem tax you paid for your automobile.

Your financial well being is important to me, so always seek personal tax advice from a professional. 

Grant Ballew

By Jay Hufnagel, Keller Williams Realty, Lake and Home Group, www.SayJayLakeandHome.com , 770-757-2799