Consider mortgage insurance protection — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily
For the first time — but for 2007 returns only — you can deduct mortgage-insurance premiums, thanks to the new Tax Relief and Health Care Act. The catch: You can’t deduct those premiums if your adjusted gross income exceeds $110,000. This new tax break applies to mortgage-insurance contracts issued after 2006.
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