Summertime tax tip


If you itemize your deductions, you can deduct the mortgage interest and property taxes paid for your vacation home. A boat or RV can qualify as a vacation home if it has sleeping quarters, cooking facilities, and a bathroom. If a retreat also serves as rental property, you can control your tax deductions by changing the number of days you use it for vacation.

IF YOU WISH ASSISTANCE ON YOUR TAX PLANNING CONTACT LEFTSTEIN-SUCHOFF CPA & ASSOCIATES AT INFO@BERGENCOUNTYCPA.COM  OR 201-947-8081

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