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Don’t miss out on tax deductions for homeowners!

Don’t miss out on tax deductions for homeowners!Don't miss out on tax deductions for homeowners

1. Deduct 100% of your mortgage interest.This is easy to find on your 1098 you should have received from your bank.

2. Don’t forget your real estate taxes. Also easy to obtain from your tax assessor's office. Often, this info will also be on the 1098 you receive from your lender for your mortgage interest.

3. If you are a first time homebuyer or haven’t owned a home in 3 years and you purchased last year, you may qualify for the First Time Homebuyer $8000 tax credit.

4. If you owned a home but lived in it for 5 of the last 8 years, you may qualify for a $6500 Move Up Homeowner tax credit.

5. Don’t overlook home improvements. There is a $1500 credit available for energy saving home improvements.

Please investigate these options with your CPA and take advantage of these tax deductions.

 

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We are approved by Boeing 3rd party relocation company as Charleston Boeing Relocation Specialists with Carolina One Real Estate in Charleston, SC. Contact Top Lisitng Real Estate Agents, North Charleston, SC Relocation Experts, Licensed Realtors® in South Carolina at 843-849-5217 or info@CharlestonRelocationExperts.com to list your home for sale or to purchase a home in Charleston, Goose Creek, Summerville, North Charleston, Hanahan, Mount Pleasant and the surrounding areas in Charleston County, Berkeley County or Dorchester County. The Charleston Relocation Experts Team specializes in relocations, first time homebuyers and creating marketing exposure to sell your home in the Charleston SC Real Estate market. View all homes for sale at www.myCharlestonMLS.com

Michele Reneau, ABR, GRI, CRS

www.CharlestonRelocationExperts.com

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Comment balloon 3 commentsMichele Reneau • March 24 2010 09:12AM

Comments

Thanks Michele for the great advice and the reminders. Have a great Spring!

Posted by Melissa Juarez (Massachusetts Buyers Broker Agency, LLC) over 8 years ago

Hi Michelle, Good points, many first time home buyers don't understand these income tax basics.

Posted by Rich Cederberg, eXp Realty Agent Albuquerque (eXp Realty) over 8 years ago

That's why I rely on my CPA and I highly recommend homeowners have a professional tax preparer or CPA help them catch all deserved deductions.

Posted by Michele Reneau, Realtor, GRI ~ Charleston, SC Relocation Experts Team (Certified Staging Professional (CSP) Elite Instructor) over 8 years ago

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