Monthly Archives: March 2016

Per Diem Rates for Meals and Lodging

The standard meal allowance¬†for meals while traveling outside your tax home¬†is the federal M&IE rate. Most major cities and many other localities in the United States are designated as high-cost areas, qualifying for higher standard meal allowances. Note that in … Continue reading

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Deductions for Mortgage Interest and Real Estate Taxes

In order to deduct mortgage interest the mortgage must be a secured debt on a qualified home in which you have an ownership interest. This means that if you do not have an ownership interest in the property you cannot … Continue reading

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