NoCo CPAs
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4025 Automation Way #D1 (Map)
Fort Collins, CO 80525
Phone: 970-226-4686

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Proposal to Eliminate the Mortgage Interest Deduction

Posted on July 20, 2011 by Leasa Magnuson in Individual Tax

Last week I talked about the Mortgage Credit Certificate, I thought it only fitting to let you know this week that the mortgage interest deduction is one of the items Congress is looking at in order to do something big with the nation’s debt instead of just a band aid. The mortgage interest deduction cost […]

View Post Mortgage Interest

How Does the Mortgage Credit Certificate Work?

Posted on July 13, 2011 by Leasa Magnuson in Individual Tax

Recently I was asked how Mortgage Credit Certificates work in comparison to the Mortgage Interest Deduction. The answer is they work together for low income individuals. States and local governments may elect to grant revocable mortgage credit certificates to low-income individuals. According to Colorado Housing and Finance Authority (CHFA) people in Larimer County with a […]

View Post MCC, Mortgage Credit Certficate, Mortgage Interest

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Testimonials

Leasa Magnuson was there when we needed her.

An unexpected audit on our returns was triggered by an unfortunate investment loss. All of the horror stories we had heard about came to the top of our minds and the adrenaline started pumping. We had never been through an IRS audit and didn’t know what to expect. We gathered all of the information requested. Leasa reviewed what we had, suggested a few more items and then we dropped off the requested supporting documents to the IRS several days prior to the audit. Promptly at 9:00 a.m. on audit day Leasa was there to support me and answer the grueling questions I was sure would come from the investigator.

Before we had a chance to take the hot seats in the investigator’s office, we were told that they had reviewed our documentation and we were given a "no change" verdict – which means everything checked out. We were free to leave.

I am confident Leasa’s council, review, and organization of our documentation and giving the IRS advanced time to review the information led to the positive outcome.

We are very lucky to have her on our team and will continue to use Leasa in the future.

Anita & Mike Kelly

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4025 Automation Way #D1 (Map), Fort Collins, CO 80525 - Phone: 970-226-4686