If a tax pro offers to quadruple your deductions or eliminate your tax bill, be wary. Without stricter licensing rules, you’ll have to watch your own back.
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If a tax pro offers to quadruple your deductions or eliminate your tax bill, be wary. Without stricter licensing rules, you’ll have to watch your own back. Worried you’re going to be left living in a cardboard box? If you know what to expect, you can avoid much of the pain — and embarrassment — of bankruptcy. One of the big myths of homeownership is that upgrades are investments. In reality, renovating is consumption spending. But if you want to remodel anyway, do it right. A few things seem certain: A final bill won’t be bipartisan, it will require tax increases, and the political implications will be huge. The rest is harder to predict. Some buyers are finding their homes were built with tainted materials from China. Yet when they turn to their insurers, they get dumped — and could face foreclosure. Just having a pulse isn’t enough to get approved for a mortgage anymore. But knowing the rules ahead of time can help you steer clear of any potholes. |
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