Owning a home has significant tax advantages. Whether you are looking for a home, or living in the one of your dreams, it is a good idea to be aware of every tax deduction being a homeowner offers.
1. Write off Mortgage Interests
2. Write off Interest to Home Equity Loans
3. Home Improvements Made for Health Purposes
4. Deduct Moving Costs
5. Deduct Property Taxes
6. Deduct Home Office Expenses (Only for Qualified Homeowners)
7. Pay No Income Taxes on Most Home Sales
You would not overpay for groceries, gas or entertainment. Why overpay on your taxes? I encourage you to examine every possible deduction before completing your taxes with a licensed professional. If you need more information on how owning real estate can be a tax benefit to you, give me a call. I am happy to help you take advantage of your current or future home.