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Unlock the tax benefits of homeownership! 💼 1. Mortgage Interest Deduction: As a homeowner, you can deduct the interest you pay on your mortgage loan from your taxable income, potentially reducing your tax bill. 2. Property Tax Deduction: Enjoy the benefit of deducting property taxes from your taxable income, providing another opportunity to lower your tax liability. 3. Home Improvement Tax Credits: Certain home improvements - particularly those that enhance energy efficiency - may qualify for tax credits, offering additional savings while you invest in your property.

Many Americans see buying a house as a significant milestone in life, but how do you buy a house or refinance your current home if you have back taxes? Tax debts can complicate matters with lenders and mortgages, but these problems won't necessarily put homeownership out of reach. Dive into our blog where we unpack resources such as the Federal Housing Administration's home loan program as well as share our own house-buying tips: https://hubs.li/Q02DZ63_0 #Taxes #TaxExperts #TaxAttorney #TaxProfessionals #IRS #TaxResolution

One specific positive about homeownership are the tac benefits! 👉 Mortgage interest deduction: You can deduct a portion of the interest you pay on your mortgage each year. This can significantly reduce your taxable income, lowering your overall tax bill. There are limits on the amount of mortgage interest you can deduct, depending on the size of your loan and your filing status. 👉 Property tax deduction: You can also deduct the property taxes you pay to your local government. There's a limit on this deduction as well, but it can still provide some tax savings. *it's important to consult a tax professional Did you know that owning a home comes with some great tax benefits? Pam Merriman Associate Broker & Realtor 616 Realty #TaxDaySavings #HomeownershipBenefits #GrandRapidsRealtor

Let's talk about the tax perks of owning a home. #mortgagemarshall #apexmortgagegroup 1. Mortgage Interest Deduction: One of the most significant tax benefits of homeownership is the ability to deduct the interest you pay on your mortgage from your taxable income. This deduction can result in substantial savings come tax time, especially in the early years of your mortgage when the majority of your payment goes towards interest. 2. Property Tax Deduction: Say hello to another tax break! Homeowners can also deduct the property taxes they pay on their primary residence from their taxable income. This deduction can help offset some of the costs associated with homeownership, putting more money back in your pocket.

🏠 Did you know property taxes could increase your monthly mortgage payment? Here’s what you need to know: ✔️ Bundled Payments: Many lenders collect property taxes as part of your monthly mortgage payment. This ensures taxes are paid on time but also means your payment might change if taxes increase. ✔️ Tax Rate Variability: Property taxes are tied to your home’s assessed value and local tax rates, both of which can rise over time. ✔️ Planning Ahead: Understanding property tax rates in your area helps you budget accurately and avoid surprises. Homeownership involves more than just the mortgage—you need a plan for property taxes too. Let’s connect to discuss how this fits into your financial goals! #PropertyTaxes #MortgageAdvice #CanadianFinance #HomeOwnership

🏠 Did you know property taxes could increase your monthly mortgage payment? Here’s what you need to know: ✔️ Bundled Payments: Many lenders collect property taxes as part of your monthly mortgage payment. This ensures taxes are paid on time but also means your payment might change if taxes increase. ✔️ Tax Rate Variability: Property taxes are tied to your home’s assessed value and local tax rates, both of which can rise over time. ✔️ Planning Ahead: Understanding property tax rates in your area helps you budget accurately and avoid surprises. Homeownership involves more than just the mortgage—you need a plan for property taxes too. Let’s connect to discuss how this fits into your financial goals! #PropertyTaxes #MortgageAdvice #CanadianFinance #HomeOwnership

📣 What the Autumn Budget means for homeowners and buyers 📣 🏠 Stamp Duty bands have stayed the same for both first time buyers and homeowners, but has increased for second property purchases 💷 Capital Gains Tax has increased from 10% to 18%, and 24% to 28% respectively 🏘️ Housebuilding will be supported through increased investment and more planning officers. 🏛️ The freeze on inheritance tax has been extended until 2028 📉 We might see a drop in the base rate when the Bank of England meets on 7th November. Have questions about how this impact might impact your next property purchase or remortgage? We’re here to help! Contact your local Dacres office today for expert advice. 👇 https://loom.ly/9U84v7Q #MortgageAdvice #FirstTimeBuyers #MortgageAdviceBureau #Mortgages #Lenders

Tax season alert for new homeowners! 🏠💼 Did you buy a home in 2023? Don't miss out on these possible tax deductions: property taxes, prepaid interest, PMI, mortgage interest, and lender points. 💰📉 Always check with your accountant for personalized advice! #HomeownerTips #TaxSeason2023 #RealEstateAdvice #ClosingCosts #TaxDeductions #PropertyTaxes #HomeBuying #FinancialTips

Hey friends, it's Tax Day! ⏰ Don't forget to file your taxes by today's deadline. And if you're receiving a refund, consider putting it towards your future home purchase. Give me a call, and let's discuss your options. #BankSouthMortgage #YourLocalLender #TaxDay #HomeBuying #MortgageOptions #Finances

Hey friends, it's Tax Day! ⏰ Don't forget to file your taxes by today's deadline. And if you're receiving a refund, consider putting it towards your future home purchase. Give me a call, and let's discuss your options. #BankSouthMortgage #YourLocalLender #TaxDay #HomeBuying #MortgageOptions #Finances