Since we are in the middle of tax season, I thought it would be good to review some important tax considerations for homeowners.  One of the great reasons for owning a home are the tax deductions!  Homeowners who itemize their taxes are able to deduct 100% of their mortgage interest and property taxes from their income tax returns.

Some of the best tax tips for homeowners are:

1. Itemize your tax return so you can claim your deductions.

2. Plan ahead for that home office deduction

3. Tax relief for loan modifications, short sales and foreclosures through 2012

4. Consider Income tax consequences of a refinance or Property tax appeal

5. Remember the closing costs!

You can see the complete article on the these tax tips for homeowners here.

 

Buying a home is an exciting time and a wonderful opportunity.  Working with a real estate expert can make it a much easier and less scary endeavor, and can likely help to save you money and headaches down the road. 

If you're thinking about buying or selling a home, call me and "I'll get you moving!".