Denver Home Living from Your Colorado Home Group Winter 2018 | Page 3

D
QUICK TIPS
AND ADVICE
FROM DHL
EXPERTS
DHL'S
FAVORITE
SMALL
BUSINESSES
W
enver Home Living Favorites highlights small businesses
in and around Denver who are truly great at what they do.
We hope they are places you might enjoy visiting, and that
they may even become some of your favorite places as well.
e strive to bring our readers informative content
including advice from local experts. These quick tips
are designed to help you avoid common problems
and mistakes and point you in the right direction
where you may not even know you need it. Feel free to follow up
with any of our experts if you have additional questions.
POPPIES
RESTAURANT
WORTH A VISIT
Just south of I-25
on Colorado Blvd is
Poppies Restaurant, a
down-home restaurant
that draws kids,
seniors and practically
everyone in-between.
On most nights, the
place is bustling,
with business people
relaxing over Happy
Hour appetizers and
drinks, families poring
over kids’ menus and even couples out for a casual date night.
DEBBIE MASON, CPA, CMA
303-453-9547
MASON AND ASSOCIATES, LLC
WWW.MASONCPA-CMA.COM
FIVE TAX DEDUCTIONS FOR HOMEOWNERS
Tax preparation is not for the fainthearted. If you plan to
prepare your own tax returns next year, make sure that
you do your research and familiarize yourself with every
possible deduction to which you are entitled. Here are the
most common deductions specific to owning a home:
Poppies’ popularity rests on its extensive menu, high-quality
food and efficient service – all at a family-friendly price tag.
Kids can enjoy burgers and fries or chicken fingers while their
parents feast on delicious prime rib, grilled salmon or chicken
piccata. Favorites range from hearty fare like baby back ribs and
chicken parm to a lighter selection of stir fries, salads or pastas.
Take the plunge and finish off your meal with a sumptuous
apple pie a la mode or an old-fashioned root beer float.
1) Real estate taxes – Homeowners may deduct
local, state, and even foreign real-estate taxes.
2) Mortgage interest – Deducting mortgage interest can make
itemizing a better option than taking the standard deduction,
but it opens the door to additional deductions and questions.
3) Private mortgage insurance (PMI) – This premium, which
some homeowners pay to protect the lender until the homeowner
achieves 20 percent equity, is also a common deduction.
The atmosphere is lively and the place has a neighborhood feel – you
get the sense that you might just run into your fifth-grade teacher,
fellow PTA mom, or work buddy from your old job. Poppies serves
dinner until 10:00 p.m. making it an excellent choice for those late-
night dinners. On Thursdays and Fridays, beginning at 7:00 p.m.,
you can catch some live piano bar music featuring local-area favorites.
4) Selling and renovation costs – These expenses may be
applied toward the $250,000 IRS exclusion ($500,000
for married taxpayers) on the sale of your home, helping
to reduce profits and relieve your overall tax burden.
5) Mortgage points – If you obtained a new loan while
buying or refinancing, you can deduct some fees.
Don’t overlook Poppies as a weekend breakfast choice either.
Starting at 8:30 a.m., both Saturday and Sunday, Poppies offers
an extensive breakfast menu, including traditi onal favorites like
French toast, pancakes, omelets, and scrambled eggs with bacon.
Of course, depending on your individual situation, tax preparation
can be a lot trickier. You may qualify for additional yet more
complex deductions if you bought or refinanced a home and paid
certain fees. You may also be able to deduct losses from weather,
theft, or fire damage, depending on your gross income.
If you’re planning to come during peak dinner hours, or
if you are coming with a large group, it’s best to make a
reservation – especially on weekends. With a little bit for
everyone, Poppies stays open until 1:00 a.m. nightly so
you will be well rewarded whenever you arrive.
www.poppiesrestaurantdenver.com • [phone]
2334 S. Colorado Blvd, Denver, CO 80222
3
According to government statistics, the overwhelming
majority of Americans who filed taxes believe they
benefitted by using a professional tax preparer. If you
have questions about a particular deduction or just need
a little help, contact Debbie for a free consultation.