Money Saving Tips and More....

March 7th, 2018 1:30 AM

Reminder to all home owners - make sure to take advantage of any tax deductions coming your way! This year the filing deadline for most is Tuesday, April 17th, 2018 (see IRS.gov). Be sure to take advantage of your home related deductions including:

Mortgage interest - that interest you have been paying with your mortgage payment all year adds up to a big deduction come tax time.

Property taxes - another big deduction every year, based on the tax assessed value of your home.  You can find this amount on your mortgage interest statement and also on your county tax assessor's website. BCPA.net for Broward County owners.

Loan points - points you paid to get a better rate on your mortgage may be deductible.

Interest paid on a Home Equity Loan - the IRS allows certain deductions of this interest.

Contact your tax advisor to make sure you take advantage of these deductions. If you prepare your own return, many of these potential deductions are built in to tax software.


Posted by Jennifer Carpenter on March 7th, 2018 1:30 AMLeave a Comment

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