Tax Time Can Be a Dream for Homeowners
Homeownership is a wonderful thing. After all, home is where we make memories, build our futures, and feel comfortable and secure. In addition to that, homeownership holds many financial benefits. This becomes increasingly clear each year leading up to April 15—tax day. And for new homeowners preparing their taxes for the first time as a non-renter, the National Association of REALTORS®’ consumer website, HouseLogic, has put together a list of some of those important home tax deductions to keep in mind. HouseLogic covers some of the more well-known deductions, like the mortgage interest deduction, but also reminds homeowners of other important possibilities—such as the Nonbusiness Energy Tax Credit (for homeowners who have made energy-efficient upgrades) and the private mortgage insurance deduction.
Check out HouseLogic’s tips for how homeowners can make the most of tax time. Talk to a REALTOR® to get additional homeowner tax dos and don’ts. Speak to someone who prepares taxes and see what he or she advises homeowners to remember during tax time to get the best return.