How Owning A Home Can Pay Off At Tax Time

How Owning A Home Can Pay Off At Tax Time

A home provides many tax benefits!!
A home provides several tax benefits, literally from the time you purchase and buy the home through the time you sell the home. The mortgage interest paid on a home loan( up to $1 million for a primary residence or second home ) is tax deductible every year, as is the local property tax.
Other mortgage costs can also be deductibles!
other mortgage costs including late-payment charges and early-payment penalties – are also deductible. And if you use a portion of your home for business purposes, you can take a depreciation deduction as well. Many federal tax benefits are also available from local and state tax agencies. Contact your local tax agency for more information.

Karlyn Bechel
Buyers Agent
Keller Williams Realty Integrity ,WI/MN


Kelsey Rorabeck Headshot
Author:
Phone: 715-529-1410
Dated: July 16th 2014
Views: 728
About Kelsey: Kelsey was a student athlete for 4 years at Augsburg College and received the Joyce Plaff (scholar a...

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