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      • A group living arrangement is defined as: a community-based residential facility operated by a public or private nonprofit organization, or an institution authorized to serve no more than 16 residents
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  2. The Homestead Exemption, as detailed in the 2011 act, is intended to preserve the equity of a homeowner’s primary residence against seizure, execution on a judgement, or sale to cover debts, among other adverse financial penalties.

    • Mortgage interest. Homeowners with a mortgage that went into effect before Dec. 15, 2017, can deduct interest on loans up to $1 million. “However, for acquisition debt incurred after Dec.
    • Property taxes. This deduction is capped at $10,000 for those married filing jointly no matter how high the taxes are. (Here’s more info on how to calculate property taxes.)
    • Private mortgage insurance. If you put less than 20 percent down on your home, odds are you’re paying private mortgage insurance, or PMI, which costs from 0.3 percent to 1.15 percent of your home loan.
    • Energy efficiency upgrades. The Residential Energy Efficient Property Credit was a tax incentive for installing alternative energy upgrades in a home.
  3. Feb 14, 2024 · Massachusetts Homeowners can take advantage of tax deductions such as mortgage interest, property tax, and necessary home improvements made for medical reasons. These deductions can help lower taxable income and potentially lead to significant savings.

  4. A group living arrangement is defined as: a community-based residential facility operated by a public or private nonprofit organization, or. an institution authorized to serve no more than 16 residents. The facility must: be certified by an appropriate state agency under regulations issued pursuant to section 1616 (e) of the Social Security Act, or

  5. Jan 9, 2024 · How to Calculate. To calculate how much tax you owe, first calculate your Massachusetts gross income. Massachusetts gross income is federal gross income: Plus income excluded from federal income but included in Massachusetts income. Minus income included in federal income but excluded from Massachusetts income, and.

  6. Jun 5, 2023 · Massachusetts has a flat personal income tax rate of 5% of federal adjusted gross income. Beginning in 2023, an additional 4% tax is imposed on income over $1 million. Property taxes in ...

  7. Nov 1, 2023 · Contact the Problem Resolution office at (617) 626-3833 or email prohelp@dor.state.ma.us. Do you need forms and/or other printed materials in large print? Contact Allan Motenko at 617-626-3410 or email motenkoa@dor.state.ma.us. Information for IRS Forms (W-2, 1099s, 1040, etc.) can be found at the IRS.

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