Tax Deductions For Home Owners
By Bill Burke, Associate Broker/REALTOR® Licensed in NH & MA
(BurkeLord® Real Estate Powered By Keller Williams Metropolitan)
First off, I am not an accountant or tax advisor and these are just a few things that you can look into and talk to your accountant or tax advisore about. If you're a homeowner, it's always a good idea to make sure you haven't missed any tax deductions. You may not be able to take all of these deductions, so please check with your tax advisor.Mortgage InterestDid you know that mortgage interest is tax-deductible? You're allowed to deduct the interest on a loan secured by your first or second home. You may be somewhat limited if all mortgages on your home total either more than the fair market value of your home, or more than $1 million ($500,000 if you're married and filing separately from your spouse); or if your home equity loans total more than $100,000 ($50,000 if you're married an...
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