DONT FORGET ABOUT HOMEOWNER TAX BREAKS

Dated: 01/04/2018

Views: 27

HOMEOWNER TAX BREAKS


A New Year means tax season is right around the corner. One of the many perks of homeownership is big tax breaks. So whether you’re doing your taxes yourself or getting help from a professional, it’s important to take advantage of those breaks!

Mortgage Interest Deduction: 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 mortgage payments, and the earlier you are in your 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 a tax professional to 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.

Search Homes For  Sale | We're HIRING | Crypto Currency | Travel

Coverage Area

Acworth | Adairsville | Alpharetta | Alto | Aragon | Armuchee | Athens | Atlanta | Auburn | Augusta | Austell | Avondale Estates | Baldwin | Ball Ground | Berkeley Lake | Bethlehem | Big Canoe | Bogart | Bowdon | Bowersville | Braselton | Brookhaven | Brooklet | Brooks | Buckhead | Buford | Calhoun | Canon | Canton | Carnesville | Carrollton | Cartersville | Cave Spring | Cedartown | Chamblee | Chattahoochee Hills | Clarkston | Clermont | Cleveland | Clyo | College Park | Commerce | Concord | Conley | Conyers | Covington | Cumming | Dacula | Dahlonega | Dallas | Dawsonville | Decatur | Doraville | Douglasville | Duluth | Dunwoody | East Point | Ellabell | Ellenwood | Emerson | Euharlee | Fairburn | Fairmount | Fayetteville | Flovilla | Flowery Branch | Forest Park | Gainesville | Gay | Gillsville | Good Hope | Grantville | Grayson | Greenville | Griffin | Guyton | Hampton | Hapeville | Hartwell | Hiram | Hogansville | Homer | Hoschton | Jackson | Jasper | Jefferson | Jenkinsburg | Johns Creek | Jonesboro | Kennesaw | Kingston | Lake City | Lavonia | Lawrenceville | Lilburn | Lindale | Lithia Springs | Lithonia | Locust Grove |

Blog author image

John Thomas

Hi, I'm John Thomas, and I am a full-time/full-service Realtor® at eXp Realty in Atlanta Georgia. I was born in Chicago, grew up in Elmhurst. I attended York High School and Loras College. I have a B....

Latest Blog Posts

Why Due Diligence Is Real Estate Lingo You Need To Know

After a long, grueling search, including several overheated bidding wars, Jim and Claire found the home of their dreams. They were ecstatic when their offer was accepted and the transaction

Read More

Which Renovations Will Boost My Home Value The Most

Of the many questions we field from homeowners thinking of selling their homes, the most frequent starts with “What’s it worth?” Of course they’re referring to their home’s value, but

Read More

Is A Starter Home Right For You

When you’re looking for the right home you might find yourself with an endless sequence of choices. House or condo? Suburban or city center? But there is one particular choice that bothers a lot

Read More

HOW TO BE A GOOD OPEN HOUSE GUEST

It is exciting to go to open houses and dream of the possibilities a new home brings. Going to open houses is crucial to finding the right home. The next time you take a tour of a home, keep these

Read More