Tax Time=Deductions!?

Another reason it is a great time to BUY is because of long-term investment opportunities.   Make sure to  ASK your accountant  about the tax advantages below, to see if they apply to your situation.

****Ask About Mortgage Interest Payments: If you own your primary residence your mortgage interest should be a deduction.  

****Ask About Mortgage Insurance Payments: Mortgage insurance deductions can be taken for an additional 3 years, thanks to our Congressional Men and Women.

****Ask About Points: The points that you  pay to your lender when you purchase a home may be deductible.   In addition, points that are paid by the seller for the buyer may be a deduction as well.  Of course, this prepayment of interest must meet certain basic requirements.

****Ask About Property Taxes:   Annual taxes that are based on your homes assessed value may lead to another substantial deduction.  

****Ask About Home Equity:   The amount you pay in interest on your home equity loan,  might  entitle you to other  tax benefits that aren’t available by other credit sources.

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