Otherwise, you'll save more tax dollars by foregoing the home mortgage interest deduction and claiming the standard deduction instead. Complete Schedule A and compare the total of your itemized deductions to your standard deduction to find out which method is most advantageous for you.
How long a patent lasts depends on the type of patent being issued and the country issuing the patent. For example, under recent changes in the laws, in the United States, patents are now granted for a term of 20 years from the date of application (14 years for design patents).
Other Documents to Keep. Along with copies of mortgage statements, keep a copy of any certificates of satisfaction or lien releases you receive after you pay off the mortgage. If you have any of these records, HouseLogic recommends that you keep them for at least three years after you sell the property:ow Long to Keep the Documents. It's worth keeping mortgage documents for as long as you can. The IRS statute of limitations on tax return audits is three years in most cases. However, the agency has no statute of limitations if you didn't file a tax return or it believes you filed a fraudulent return.