Wednesday, October 18, 2017
   
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Home Owners

Planning is the key to successfully and legally reduce your tax liability. Most taxpayers get a nice tax break from their mortgages.

If you're a homeowner, it's always a good idea to make sure you haven't missed any tax deductions.

Homeowners can claim a slew of write-offs to lower their tax bills -- as long as they itemize. There are deductions for mortgage interest, mortgage points and real-estate tax payments. And if you sell your home, most likely you won't have to pay taxes on the profit. If you bought a home last year, you might even get to write off expenses you didn't pay. So make sure you get all the tax breaks you have coming.

We at Ravi Tax proactively recommend tax saving strategies to maximize your after-tax income by taking care of each and every possible deduction. 

Following are some of the available tax breaks

  •  Energy credits

  •  First-time homebuyer credit

  • Home-office deduction

  • Home-sale exclusion

  • IRA payouts for first-time homebuyers

  • Mortgage interest

  • Mortgage interest credit

  • Points

  • Property taxes

Please call us to discuss more details.

 

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