homeowner tax breaks

3 Homeowner Tax Breaks That Ended in 2016

shannonjones Featured Articles , Real Estate Leave a Comment

Make Sure You Take These Homeowner Tax Breaks for 2016 If You Can… They May Not Come Back Perhaps you didn’t realize it, but many tax breaks have a life span of only one year. Technically, a lot of those tax credits and deductions expired on Dec. 31, 2016—which means that if you’re a homeowner, you might want to lock in whatever home-related tax benefits you can when you file last year’s return.Granted, it’s certainly possible these tax benefits could be renewed for 2017, as they have been in past years. But with a new president in office and plenty …

Tax breaks for homeowners

6 Tax Breaks for Homeowners

Shannon Featured Articles , Real Estate Leave a Comment

Tax Breaks: What you Need to Know as a Homeowner The dreaded tax filing season is upon us. Make the season brighter by taking advantage of all the tax breaks you can. Homeowners, rejoice. Here’s six you may qualify for: 1. Mortgage Interest Deduction Mortgage Interest Deduction (MID) is a top tax break for homeowners, which can save you a significant amount of money. In the beginning, the majority of your monthly mortgage payments go toward loan interest, and you can deduct all the interest from your mortgage on your taxes. Keep Form 1098, issued by your lender, with your important records. This form explains exactly …