February 28th, 2017 9:20 PM by Jenny S. Becker
It is time to get your tax ‘ducks’ in a row. Home sweet home owner tax breaks!
There are significant tax breaks that come with the joys and woes of home ownership. If you're among the new property owners, congratulations. “You've just taken another step up the American-dream ladder and are a homeowner.” Along with the joy of painting, plumbing and yard work, you now have some new tax breaks. Other homeowners can enjoy tax breaks even when they sell their former abodes.
The bad news, your taxes will likely get more complicated if you want to ensure you are taking full tax advantage of your homeowner tax considerations. As a homeowner you can most likely wave goodbye to the 1040-EZ form and start to familiarize yourself with itemizing the deductions on Schedule A. Once you get it down, it is worth it. Welcome to 'Homeowner Adulting'
Are you taking advantage of your standard Homeowner tax deductions?
CLICK HERE to read more from HouseLogic about taking advantage of the homeowner tax deductions you are entitled to, what to know to itemize your tax deductions, tax mistakes that will cost you, how to get your PMI tax deduction and MORE.
For detailed information ‘straight from the horse’s mouth’ visit www.irs.gov. Please consult your CPA or a tax professional for further advisement on your Homeowner Tax Deductions.
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