One of the many perks of homeownership is big tax breaks. So whether you’re doing yourtaxesyourself or getting help from a professional, it’s important to take advantage of those breaks!
Mortgage InterestDeduction:Before buying a home, a standard deduction may have made the most sense when you prepared your taxes. But homeowners can deduct the interest portion of their mortgagepayments, and the earlier you are inyour mortgage, the greater the percentage of each payment that goes toward interest, so take advantage right away!
Home Office:There are specific criteria that have to be met in order to deduct home office expenses, but it can lead to a very large deduction. In general, your home office has to be used specifically for business purposes. Check with atax professionalto see if your home office qualifies for a deduction—it’s a little extra work, but can make a big difference in your tax responsibility.
Author:Jimmie Miller Phone: 208-867-4020 Dated: February 27th 2016 Views: 207 About Jimmie: With 25 years of experience in both Commercial and Residential sales and ownership experience, I wil...
View our latest blog posts in your RSS reader. Click here to access.
Locally marketing includes but are not limited to: staging, visually stunning photography, virtual tours coupled with a custom tailored written description to attract a targeted demographic that has a national reach! Nationally we connect consumers to agents and Brokers who share in the same high level of customer service that we do here at National Broker Connect Real Estate.