Monthly Archives: March 2016

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 →

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 →