The mid-point of Phase II has begun

[Racket_Man]

Relevant thread(s)
http://www.customerssuck.com/board/s...d.php?t=115635

Finally got the paperwork back from the estate lawyer and all looks in order. Going to see the Bank Loan Officer on Thursday and I expect no real problems

Now I have a hypothetical tax question: Now that I will have a mortgage I should be able to Itemize my Federal Tax Return and deduct the mortgage interest and

I "should" be able to also claim part of my vehicle expenses (using the IRS suggested per mile rate subtracting off what my company reimburses me for my vehicle use).

This will be VERY new to me as I have never had to deal with more than just a simple tax return up to now

MAN am I having great anxiety right now as this is literally the biggest gamble I have ever done in my life.

Hopefully I can close around Thanksgiving (either right before or after)

[EricKei]

Talk to a tax pro in person about all of this; bring every receipt you have that could possibly be deductible, and store them neatly (divided by type) in the meantime. Keep in mind that Itemization will not be worth it unless what you can get back by doing so is greater than the Standard Deduction. You may even wish to go by an office for such a pro now, and ask them for a basic list of the sorts of things they want you to keep track of; ask if they'd be willing to do an initial consult (say, 15 minutes) cheaply or maybe for free, on the condition that you come to them when the time comes to get your taxes done?

For vehicle Mileage: Just use your cellphone to snap a photo of your odometer for trips that are long enough to be counted. Turn on any overlay that shows the current date. At the very least, Take one shot every few days and keep a detailed journal on paper every time you get ready to start the car for relevant trips (meaning, generally, 100% work-related).