Tax Day 2021
Tax Day this year comes with extra time again this year. The tax deadline has been extended to May 17, 2021 due to COVID-19. Do you have to pay this year? If so, did you budget appropriately for that? Are you getting a refund this year? If so, what are you doing with your refund? Paying off debt? Using it as a down payment for a new home? In 2020, homes can still help with deductions – calculate your approximate mortgage interest tax deduction. Purchasing an Investment Property?
Filing isn’t only about paying in or getting a refund. If you’re self-employed, being approved (or not) for a mortgage highly depends on how much income you showed. Tax Day 2021 could mean the difference refinancing or purchasing a new home. Is now the right time for you to receive a mortgage pre-approval?