POINTS

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In financing lingo, one point is equivalent to 1% of the loan…

PRINCIPAL RESIDENCE

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A taxpayer can exclude up to $250,000 ($500,000 for married taxpayers)…

PRIVATE ACTIVITY BOND

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Generally, interest from municipal bonds issued by a state or…

QUALIFIED PLAN

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This term refers to retirement and employment benefit plans that…

RECAPTURE

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Is to include as income or as additional tax in the return an…

ROLLOVER

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A rollover is a tax-free withdrawal of cash or other assets from…

SECTION 179 DEDUCTION

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This refers to a section of the Internal Revenue Code that permits…

SECTION 529 PLAN

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Qualified Tuition Plans (also known as Section 529 Plans) are…